How do you teach value?

Author: Ashley

6 Nov

How do you teach value to kids? I talk all the time about teaching your kids to save, to make choices, to get the basics of frugality. But I’m really struggling with teaching my daughter how to determine the value of something. For example, yesterday she wanted to take $3.00 of her allowance to school to spend at the book fair. She bought a pencil. Yeah, she paid $3.00 for one pencil. It was cute, it had cute little topper that is some character that I’d never seen, but she knew who it was. Fine, whatever. I didn’t care too much.

Then this morning she wanted another $3.00 so she could buy another pencil. I tried to explain that $3.00 for one pencil is a lot of money. That I could take her to Walmart and she could buy 10 pencils for $3.00. She didn’t care. I don’t know what she decided to do. The money is right there she doesn’t need to ask my permission. So maybe she took some, I don’t know. I try only to guide her, but let her make her own choices with her allowance. That was kinda the point in giving it to her. To let her make her own mistakes.

So I’m curious to know what she did. I plan to take her to walmart and show her exactly what a pencil should cost. Maybe even show her what toys of that particular character cost so she can see what her options were. Instead of spending $6.00 to get that character she could have bought an actual toy. Lord knows she doesn’t need any more pencils.

Does anyone have any tips? How did you drive home the point of value vs cost to your kids?

pic by Ralphbijker

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5 Responses for "How do you teach value?"

NtJS November 6th, 2008 at 1:00 pm 1
How old is yours? I know that concept is beyond our 5-year old. We’ve mastered “I have $6 and this costs $6, so I can buy it”. But value? Hrmmmm…. will have to think about that one.
Amber C November 6th, 2008 at 1:22 pm 2
I know my son didn’t learn it until he started working a part-time job. But as soon as he did he quit wanting fast food, certain clothes, and other junk. When he got paid he would take $10-$20 from his paycheck and that was all he would use. This included his movie outings with his friends. Some weeks he wouldn’t spend any money.
Bill November 6th, 2008 at 4:35 pm 3
To learn value, they need to earn the money. Even if it’s something small and trivial. So they can make the connection of “That pencil cost 3 weeks of feeding the dog.”
Carol November 7th, 2008 at 10:02 am 4
My “child” will be 40 this month, (I had him when I was two!!!) and at an early age he learned the hard way about value.
He wanted some type of “fancy” sneakers and I bought them for him with the understanding that he could only wear them after bringing his grades up. Time went by, report cards came out, grades did not go up, and back to the store went the sneakers!
He was amazed that I would really hold him accountable, I think he was twelve at the time, but from that time on, he always lived up to his agreements.
Children, as well as adults can learn that what they want and what they need are often very far apart.
When you earn it, you also learn it.
Weekly Roundup and Carnivals November 7th, 2008 at 11:02 am 5
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