Establishing Correct Values in Children Through 40 Methods

Author: Lewis
Publisher:
Publish Date: 2007-01-01
Features: Regularly giving an allowance can avoid these problems, but it must also be wise in deciding which way is appropriate. Some parents pay their children for doing household chores; others give a fixed allowance, but withhold it if household chores are not done or if they are punished for misbehavior. Regardless, most parents still believe these methods can encourage children to improve for the sake of money, viewing helping with chores as payment for labor rather than a duty of family members. At the same time, this irregular giving also leaves children unsure how to budget their income or how to save. Some parents give a fixed, regular allowance without any conditions. This method seems to be a good way to help children learn budgeting, but it does not teach them the connection between work and compensation. Perhaps the best method is a combination of these two approaches. Give each child a fixed allowance to budget for some clear basic needs and allow them some discretionary spending. This allowance is simply given to them because they are members of the family. At the same time, there are also some basic obligations they need to fulfill; if they fail to do so, disciplinary punishment should be used instead of withholding the allowance. Additionally, some extra short tasks that you can usually hire someone to do—such as cleaning windows, floors, or washing cars—your child may be willing to do for extra income. This extra income can teach him the connection between work and salary, and for the child, these tasks are more like play rather than something they must do. The principle is to establish a child's sense of responsibility and values toward money. The effectiveness of giving an allowance largely depends on the amount and how it is used. Here are some reference principles:
· Whatever you say, the way you handle your own money is making a powerful example.
· Giving an allowance must be regular and timely, without constant reminders. Regularity is a key factor in teaching children to use their allowance wisely.
· Avoid giving advances on allowance; the amount given must be pre-agreed, neither more nor less, so the child can learn to balance their income and expenses.
· The amount of allowance should be based on the amount the child hopes to achieve, of course, also considering the child's age, needs, and family financial situation.
· The allowance should include a portion the child can spend freely, so they can learn to make wise choices.
· Within the family's rules and values, you must exercise some degree of control over spending.
· Do not use an allowance to replace time spent with them or to express love and affection.
Suggestions and methods suitable for all ages Here are some methods to help your child learn to be responsible with money:
Preschool children Start by helping your child recognize coins like one, five, and ten yuan from their toys. Take your child shopping with you and give them some coins to practice using, so they can understand that money is just a medium of exchange.