I want my children to value money

Piggy banks for young children

Even very young children can gradually learn what a crown is and how to handle it. You can prepare a piggy bank for children and put them in it with you. You will be amazed at how happy your child will be. Your child will be keenly aware that it took a lot of effort and waiting to get the toy he or she wanted. If he gets an expensive toy every time you point a finger, he will soon want more and more.
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For older children who often want expensive Christmas or birthday items such as tablets, cell phones, or PC games, try the “no work, no cake” approach. Set rules like helping with yard work or chores to see if the item is worth it; for children 15 and older, try encouraging them to take a part-time job earning a portion of the money for the item they want. They may not like it at first, but perseverance will pay off.
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You don\’t have to have it all

The important thing in the future is to explain to your child that money is of course very important in life, but it is not everything. There are more important things, such as health, love, and friendship. Children may come home from school and tell you what Pepi got for Christmas, or that Alice already has her own tablet. In these cases, it is necessary to explain to the children that not everyone needs to have everything. Even adults don\’t have to have everything. The secret to a happy life is to instill this advice in children from an early age.
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When do you start giving your children an allowance?

If your child is already in school and can do some math, you should give him or her a monthly allowance. The amount is up to you, 50 CZK per month for a small child, 300 CZK per month for a big child, etc. In this way, children will learn how to manage money and will recognize the value of money. Perhaps the children will surprise you with a small birthday gift that they had to save up for. For older children in high school, it is recommended that you give a larger amount of money to cover all expenses and needs.