Your Kid Asks for Money to Buy Specific Things
This may sound like a no-no, but when your son asks for money to buy a cool gadget, it shows that he's done some prioritizing of what he wants. And if he asks for an exact amount, that's great. "When your child knows how much he's spending on a particular item, it's a 'planned purchase' versus buying something impulsively," says Candi Sparks, author of the Can I Have Some Money? book series. Of course, that doesn't mean you have to give him the cash!
Your Kid Is Always Digging in Your Coin Purse
Counting coins makes for a fun math activity that doubles as a money lesson. So if your child digs in your purse for coins to count or asks to count out change for you when you're shopping, he's learning both. Challenge older kids to guess how much change you'll get back at the register.
Your Child Asks for His Own Bank Account
When this day comes, don't dismiss it with "You're too young." Your child is showing that he identifies with the way adults handle money. "When kids have their own bank account, they learn that money grows at the bank -- not on trees! -- by making interest on deposits," says Sparks.
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Your Child Likes to Play the Energy Cop
When your kid keeps reminding you to turn off the lights or stop running the water, he's not just being bossy -- he's being economical. "By equating money with lifestyle choices, he's learning how to get more bang for his buck," says Sparks. Plus, he's saving the environment.
Your Child Wants to Buy You a Gift
When your little one offers to buy you something, it's a heartwarming sign that he doesn't mind using his own money to take care of a loved one. "Your child realizes that you need money to provide your loved ones with the basics, like food, shelter and clothing, but money isn't the most important thing in the world," says Sparks.
Copyright © 2011 Meredith Corporation.
Tara Rummell Berson is a freelance writer who lives at the Jersey Shore with her husband, two kids, and dog.
ThreeJars.com is the allowance website that helps parents ensure their children develop good money habits. The ThreeJars system makes it simple to keep track of allowance using three jars: one for spending, one for saving, and one for sharing.