Teaching Kids the Value of Money
You’re at the store shopping and your first-grader sees a toy they want. “You have to have money to buy that,” you say. “What’s money?” they reply. If your child is old enough to ask that question, it’s time to talk to them about the value of money. Talking to your children about money and explaining how it works instills important values like patience, planning, delayed gratification, and impulse control, all of which are beneficial, both now and later on in life.