Educating Children to Save Money

[wwjdmsl]

I think one of the main points to get across to our children is to let them know that they are NOT entitled to "stuff" just because .....the sense of entitlement of this up and coming generation is very sad.

[Ima saver]

I saw 2 children on dr. phil yesterday. What they wanted just for christmas, totaled $8000. She was a single mom, too! Her kids had never even gotten her a birthday card. I have never had one from my child either. (she is 36) Kids have only learned how to take, not to give.

[tgavin71]

Originally Posted by cschin4

It is their money. I do try to guide them or discuss purchases with them. I point out what they could buy instead, what they could save for and how much things cost. They are getting a good idea on the cost.

I do this as well. My children have set goals that they must accomplish everyday and if they are all done then they get their money. When its gone its gone and thats it.