The kids of this generation think that parents have a money machine and getting money is as easy as pulling cash out from an ATM or charging it on a plastic card (that is a credit card for grown ups). We as parents often observe that our children don’t appreciate the ‘value of money‘, so to say. To some extent, we are ourselves responsible for it. How so? I derive from my experience as being a parent myself and also by observing other parents.

I believe consciousness for money doesn’t come suddenly one day. It is a value that has its  roots somewhere  in the beginning years of children. When kids are small, much before we teach them the concept of money, we should let them learn to first value things that they own, like their toys and so on. These are a few simple ways to do that:

• Kids should be repeatedly reminded to take care of their things like toys and books. They should be taught to use them carefully and keep them safely.
• Kids will ask for every new thing that attracts them. Tell them a firm NO for things that they don’t need. With ‘NO’ will come a tantrum or two, but don’t give in. If they ask why, answer their questions patiently and logically.

This will make them care for things they have and also get used to the fact that its ok to not have everything they see. While money bit hasn’t come in yet, but responsibility and consciousness has. You’ll be amazed to see how these tiny ones start learning to become so more responsible.

As they grow older, there comes a time when there is too much peer pressure. If a friend has a gadget they also want one. In this case, try to give these kids simple logical explanation of how much hard work goes in to earning money. Remember kids hate sermons. So keep it short. Let them own a piggy bank. Every once in a while, use the money from piggy bank to buy things. Also remember “Actions speak louder than words”. Take them to spend half a day in an orphange where they get a chance to interact with the underprivileged kids. You will be amazed to see how much they will absorb from the experience!!

Agree with me?