Friday, October 31, 2014

Teaching value of money

Radio Commentary

How can parents draw the line for their children in our materialistic culture, and teach them the values of thrift and common sense?

There are several good approaches.

One mother makes her children use their own money, from allowance or chores, to buy the toys or goods that they pressure her to buy.
  
She said:  “I find my children don’t always want it if they have to pay for it.”

Another good idea is to involve children at an early age in the family’s charitable acts.
   
When it comes to school items, it sometimes helps to set a budget and let children get what they want within that budget.

Even if they would rather have one pair of jeans with a big brand-name label and stick with their frayed T-shirts, they’re learning to make choices about what money can buy.
  
It’s also important for parents to be flexible.  Maybe you can give in to your children on one less expensive fashion item — such as colorful mechanical pencils, which cost a little more than the basic No. 2 variety of pencil.

But in return, you could stick to your guns if you are being lobbied for expensive designer shoes.

There are no hard-and-fast rules when it comes to teaching values.

The best advice, always, is to live by the values you want your children to have.