Teaching Kids the Value of Money

Money is a hard thing to come by these days. Jobs in this world are scarce because everyone is looking for one and the competition is stiff. You have to be at your best in finding a job and holding on to your money. The same goes for children. Parents should spend some time teaching children about money. 

Is it necessary to teach them about money? You bet. Children want to have money of their own, and they should. But, teaching them the right way is the most important thing. Money has value, and, if not used wisely, can be gone in an instant. This economy is a very good example of that.

Too many times families that have good cash flow just lavish their children with money and objects. And, when the money is gone, they just give them more. When they become adults they haven't learned how to deal with less, and therefore are poor managers of money.

Those that are taught at an early age how to save their money, and spend it only when needed are going to be able to live on their own it leaner times. It is these children who are told to save their money for a rainy day and not spend needlessly that will survive in hard times.

Teaching children about money is a very wise thing to do for their future. It ensures they will become responsible and good money managers. Not teaching them the value of the dollar and saving will make sure that they are irresponsible and will rely on others to give them whatever they want.  Thus they do not become independent and resourceful. Parents have a duty to their children to speak to them about proper spending and saving.  A financial advisor such as Jim Potter, can give you advice on how to teach your children about the value of money.