by Loralie Lynn

Created on: April 01, 2010   Last Updated: October 30, 2010

When children learn the value of money it helps to prepare them for the outside world. It also prevents them from becoming spoiled and thinking that they should be entitled to everything they want from toys and games to activities that cost a lot of money. Many parents cannot afford to buy their children things they want all the time and doing so actually inhibits them from growing independently. Children need to learn to work for the things they want and should know the value of money in order to be responsible adults later in life. Here are some tips for teaching children the value of money so that you can be sure to raise a well behaved, responsible, and appreciative child.

Start by sitting your child down and showing him how much money costs. Teach him the value of money by showing him what all currency amounts to including dollar bills, five dollar bills, coins, and so forth. Helping your child understand the value of money starts with teaching him how money adds up. Pull out as many different coins and dollars as you can to give your child a math lesson in money. Help him to retain the information by posting sticky notes on money with the amounts. Then, take him to the store with you and show him how many cents and dollars a few of his favorite items are. Help him to realize how much he'll have to save up in order to purchase all the things he wants to buy. This will help your child quickly learn the value of money and appreciate the prices of things.

Show your child receipts of items you buy such as groceries and household things to help him learn the value of money. Give him the total amount and then pull out how much money that is. Or, you can even draw pictures of money (if you don't have enough money on hand) to show him how much things cost that you buy for the home and family every week. Helping your child understand that the necessities you buy for the family can be quite expensive will encourage him to appreciate the value of money and the hard work you do to earn money. If you feel comfortable enough, show your child about how much you get paid and how that money has to go to cover household expenses. This is even better if you find that you are coming up short each month to pay what is needed. Your child will have a new outlook on the value of money and learn that it does not grow on trees, but rather takes hard work to earn.

Teach your child that he has to earn money for things he wants. Tell your child that if he wants toys, games, and to

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