Fredericksburg Parent

April 2014

Issue link:

Contents of this Issue


Page 27 of 31

28 Fredericksburg Parent and Family • April 2014 T here he was in the mid- dle of the living room, a half-hour after we put him to bed: our precious 8 year old with furrowed brow. "I can't sleep," he said. "I am worried about taxes!" It took all we had not to laugh, but his sincere demeanor kept us in check. He had obviously overheard con- versations, perhaps, seen H & R block commercials. As much as we fought to shelter his childhood years, reality seeped in. Many moments commenced teaching him about money, giving him skills to make money work for him and not haunt him. Allowances, chores, paying chil- dren, money management are a quandary for parents. So many opinions, so many ap proaches. Most agree that children need to start learning money matters at home early on. beyond that, agreement can be found for any view. There are a few basic ideas to tackle before the details are worked out. bY ELAINE STONE Teaching teamwork is preeminent. Running a household means involvement by all of its members. Order, cleanliness, nourishment and personal hygiene are all part of a healthy team. Homes do not take care of themselves. The people living in them share the responsibility. If you're part of the team, you contribute. Every child needs to learn certain things are expected of them, as well as learning that their contributions are important and essential. Self-worth is not measured in coins and greenbacks. Working for money is a reality. Even the wealthiest parents, who can hand out monies for every whim, are wise to teach children money does not appear based on want or need. Our society is built on work-for-pay. children need to learn money is rewarded for working. Many entrepreneurial spirits are launched on the home front where young ones learn money is a necessity and work produces it. Good money managers learn by doing. Find ways for children to earn money above and beyond household responsibilities. Write a list of paid work around the homestead. children choose when they want to earn money and which task, for a designated price. Encourage simple sales; a craft, lemonade stand, car/bike wash, trash pick-up or pet care. Income potential teaches stewardship, as well as independence. The perimeters and methods are unique to families. These should be discussed and researched. Yet, these basics should be consid- ered as the foundation of the plan. children practicing money habits, within the safety of parental guidance, will serve them for their days ahead. children can learn early to control money instead of having it control them later in life. "The buck" starts with parents. family values Raising Enterprising Children Who Respect Money

Articles in this issue

Archives of this issue

view archives of Fredericksburg Parent - April 2014