Don’t tell me where your priorities are. Show me where you spend your money and I’ll tell you what they are. ~ James W. Frick ~ [Source]

Having children means you have to spend on them too instead of just for yourself. Your child may want to buy that cute puppy whose tail is wagging hard. Sometimes, your children bring home strays like dogs and cats that look like Puss in Boots from Shrek in real life.

photo credit: booleansplit

Other times, they will want Wii, Nintendo DS, DSi, and many other toys that will cost more as they grow up. Parents may struggle with the buy-or-not-buy mentality. When one refuses to buy for the child, the child may use drastic measures such as stealing to satisfy their wants.

Are you one of the parents who pay too much for the kids? Finding it difficult to teach the children on when to spend their money wisely? Fear not, try these 15 ways to teach them about money. Teaching them in their early years about spending versus saving can make a difference in future.

One of the ways to let the child know about how money is earned is to let them have a job. Before that, you would be the one deciding if they are ready for it and whether it will affect their studies. If there are still toys that look new, get your child to sell them to those who want them.

Sometimes, you need to use different techniques for each child as they are still individuals and no one behaves the same way. The important steps to teaching a child about money includes establishing spending limits. Let them know the difference between wants and needs.

What have you done to help your child understand the value of money?

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