Comments on: Simple Ways to Teach Your Child the Value of Money

By: Frugal Parenting (II)

Frugal Parenting (II) — Thu, 11 Jun 2009 22:18:39 +0000

[...] their parents continue to teach and remind them on the value of money. An earlier posting, “Simple Ways to Teach Your Child the Value of Money“, gives useful ideas on how to do [...]

By: jacquelyn

jacquelyn — Sat, 31 Jan 2009 23:07:38 +0000

Hi Lisa, thank you for your comments. The parents are the best example the children can have.

By: Lisa

Lisa — Sat, 31 Jan 2009 19:05:43 +0000

That is so true. Children need to see their parents making a good example. If you tell them one thing and then go out and set an example of the opposite it is sending the wrong message. Teaching children about money early helps build a good foundation.

By: Parents Helping Parents Carnival: 7th Edition : Parenting Advice and Tips: Modern Parent

Fri, 30 Jan 2009 23:12:48 +0000

[...] presents Simple Ways to Teach Your Child the Value of Money posted at WParent.com – Wise Parenting [...]

By: Advice for Women from Women - Mid January 2009 « Advice for Women from Women

Thu, 15 Jan 2009 15:30:16 +0000

[...] presents Simple Ways to Teach Your Child the Value of Money posted at WParent.com – Wise Parenting Guide, saying, “Teaching your children the value of [...]

By: jacquelyn

jacquelyn — Tue, 06 Jan 2009 10:50:13 +0000

The amount of allowance to be given is up to the parents. I know of rich parents who tightly control the purse string.

What kind of lifestyle or growing up environment is your child exposed to? If the child is used to spending money, for example on comic books, movies or shopping every week, then the parents are expected to fork out more allowance. On the other hand, the poor kid only goes to town once a month needing much less. However if the parents of the rich kid is very stingy or frugal, he won’t get much allowance to spend on as well.

Ultimately, the parents will still be responsible to teach the child about money, on spending or saving habits, etc.

By: KCLau

KCLau — Tue, 06 Jan 2009 05:11:57 +0000

Hi Jacquelyn,

As you stated, allowance is based on how much the parents can afford. I am thinking of how much a rich parent should give to her children as allowance. I think it should be a cap right?
What do you recommend? Should our children get the same allowances as the poor kid?