How to Teach your Child the Value of Money

By -

Teaching your child the value of money is like teaching your child anything else such as manners, respect, cleaning up after them selves. If you child is old enough to talk and understand conversations they are old enough to learn the value of money. Start by paying them for a chore such as raking leaves. Teach them to save.



Wait until they have about $5 or $10 dollars saved and take them to a yard sale. Look for a great deal, something priced cheap that is worth much more. When you spot it point it out to them. Explain to them they can invest their money and make more money. Help them sell it at a local flea market, ebay, etc.



For an example:

when my son was 5 years old I took him to a local auction. By this time he already knew how to spot an antique, he knew the value of money. I would allow him to bid with my card. By this age he already knew how much was too much to spend. He purchased an antique bee box for $5. A lady walked up to him and explained to him that she wanted to buy it but missed the bidding. She asked if he would like to sell it and offered him $20. He thought about it and replied ” how about $25, that way I will get my $5 back and make $20″ She agreed and he now had $20 to spend to reinvest. I don’t recalled what else he bought that day, but he is now 9 years old. He has made several thousand dollars since then. He spends it wisely, usually only for a reinvestment. If there is something he wants such as an ATV or a video game system I make him purchase it with his own money. He is always looking for a deal whether it is on ebay, craigslist, yard sale, or a freebie on the sidewalk. With learning these money making tricks he has learned to appreciate the value of money. When I take him shopping for something he needs, he does not allow me to spend much money. He will suggest going to the thrift store or searching online. If we are at the grocery store and I go to pick up an item to place in the cart, he often stops me and points out a more affordable item. He goes as far as comparing the ingredients and the quantity. Teaching my son the value of money has not only helped him make money, but it has also saved me money. It has also given me the piece of mind that he will make it in this hard world we life in.


If you want to improve your life, you will enjoy our posts. We cover everything from technology product reviews, to international travel advice, to health and fitness tips. Leading a healthy, happy lifestyle is important if you want to be around for your loved ones for many years. At Bug My Day, we post articles that will help you improve every facet of your life. Our health and fitness tips are designed to be easily incorporated into your everyday routine. Our international travel advice will make preparing for your next vacation abroad a breeze. Our technology product reviews can help you select the perfect gadgets for your household. As you can tell, we work hard to cover topics that are pertinent in today’s world. If you ever have suggestions about issues we should be covering or questions about something that has already been covered, send us an email. Bug My Day’s staff members love hearing from readers.

Leave a Reply

Your email address will not be published. Required fields are marked *