1) Assign basic household chores.
Even 4 year olds can make his or her bed and pick up playthings.
Have a list of "little jobs" that small hands can
do to earn a dime or quarter. Provide a piggy bank for savings
and little sheets for easy record keeping.
2) Don't buy toys on demand. Help them to look forward to birthdays and holidays for special items.
3) Let the child learn about actions and consequences. Having possessions brings responsibilities
4) Allow your child to begin making
more decisions on their own. Encourage comparison
shopping for instance.
5) Give a specific allowance and stick to it - or none at all. That's right! Some parents have found the best way to teach children to value money is to have them earn it.
6) Don't pay youngsters for doing regular chores. If you do, there may come a time when she or he might refuse you because money isn't needed.
7) Be consistent. Continue to
have daily household chores. No child should be too busy to
pick up after her or himself and also help out around the house.
8) Help your child forget his or herself. A great family activity is donating time and/or funds to a worthy cause.
Parents, educators, others interested, may receive by return mail the Institute of Consumer Financial Education's Reading List. It contains books, videos and course workbooks for all ages PLUS there are also several guidebooks for parents and teachers too.