Teaching kids the value of money

swizzlebabe

::)
Have any ideas how to do this?

My step daughter 14 thinks it grows on tree`s, she had £100 to go xmas shopping last week. Three days later she wanted next week`s spending money to put credit on her moblie.

£100 would feed our family of 4 for 2 weeks!!!!!!!!!!!

She lives with her mum, who lets get her own way.

I don`t want my children to end up like this, any ideas?

nh

I used to have a monthly allowance of £40 (this is 15 years ago), which I 'earned' by doing the family's washing and cooking tea once a week.

I never got anything extra so didn't bother to ask.

I also had a morning paper round, an evening paper round and a sunday paper round and I worked in the paper shop too. I've never been as rich since then!

I learned the value of money by having to work for it. I suppose what you need are boundaries, so your stepdaughter knows that if she has her allowance, that is all she is getting till next week/month.

It's difficult cos apparently when you have kids you want to give them everything they want. I doubt I'll be like that because I can't stand spoilt children. But you never know until you have them!

I suppose it is difficult too when there are two different households involved.

MATH

When it's gone it's gone, as they say. If you don't give any extra money she will soon learn to eek it out.

terrierlady

we always taught the kids that if they wanted something they had to raise some of the cash themselves
i know it seems hard but they soon learn what to spend their dosh on and not to waste on rubbish, we usally gave in if they came close to half.
The grand children seem to be doing the same so perhaps it did work!!!

Sarahsaver

I tell my kids if i cannot afford something. I think this is the trouble with a lot of people nowadays, they think if a child wants something they should have it. Who was it said a famous line something like 'they know the [glow=red,2,300]price[/glow] of everything and the [glow=red,2,300]value[/glow] of nothing'
And the other day i sat them down for tea, they began to grumble a bit at the absence of fruit juice/cola/lemonade. So I told them. I have not done a 'big shop' for a whole month now, and spent about £10 a week on groceries instead, so i can get their xmas presents and not be in debt over it. They have not grumbled since.
Their ages? 3, 4 and 7.

Sarahsaver

oops! should add i had this when i had a stepson, only aged 4 at the time, got a 40 quid HUGE scalextric for his birthday from his dad and me and do ya know what he said?
[glow=red,2,300]IS THAT ALL[/glow] >:(

jo_b_2

There has been a similar discussion about this topic Here

Sarahsaver

Thats teenagers, but thanks
What we need to do you see is give kids the right attitudes when they are young, get them into the right habits, catch them at an early age!

elona

Ssaver
It must have been horrible to get "is that all " bur most young kids just like lots of things to unwrap - I bet if you had been able to put the same present into 6 parcels he would have been thrilled.

aeuerby

A couple of years ago we bought my son a PS1. It was a new small design to the old one but otherwise no different.

His friend that had stayed overnight said " I bet you got a small PS1 because your parents can't afford the big one"

I was horrified at this child - he said it in the car with my husband. I wasn't there. This child has no idea of money at all. What scares me most is his parents both work full time as teachers - one of which is a maths teacher - and instead of spending time with their children (and teaching them manners and respect but that's another story) they buy them everything under the sun.

If the childen want the latest of something they get it.

My children are being brought up to realise that if they want something they will have to earn the money to pay for it. It is also very rewarding to see their faces when they have earnt enough money and they finally obtain what it is they wanted ;D

VickyA_2

I'm a student teacher and one of my class (Year 1) brought into school with him a pocketful of small change.  This, in total, added up to 40p.  I know that his family don't have much money so I was inquisitive to how the boy had got so much money.  He told me that he was helping his mum around the house and each job that he did, he got 10p.  This really warmed my heart as he was treating the money as such a precious thing (which it is, don't get me wrong!) and he was so proud that he'd earnt all this money.  He didn't know what he was going to buy with his riches, but thought that it might be a chocolate bar for his mum!

One of the other members of the class, slightly better off, had his birthday the other week. He proudly told me that he'd got a DVD player for his birthday, so now he'd got in his bedroom a TV, video and DVD player. He's only 6. I was shocked! I never had a tv in my bedroom until I bought my own when I was 23!