When Kids Spend, Spend, Spend and Want More, More, More

Never spend your money before you have earned it.
--Thomas Jefferson, former U.S. President

“Could I get five bucks?” “A twenty?” “I need money for this.” “I need money for that.” As a parent, you hear these pleas from your children. Some ask for money more often than others, but all kids ask. How can you help your kids live within their means? How do you help your kids avoid overspending? How can you teach your kids not to pester you for money so often? Consider these ideas.

Tips for . . .

• all parents

o Be intentional and consistent with money.

o Encourage family members to slow down spending.

o Model savvy spending habits.

Read more . . .

• parents with children ages birth to 5

o Create money boxes for your child.

o Help preschoolers recognize different coins.

o Teach young children that once money is spent, it’s gone.

Read more . . .

• parents with children ages 6 to 9

o Talk about advertising and its influence.

o Start giving your child an allowance.

o Help your kids learn to save.

Read more . . .

• parents with children ages 10 to 15

o Connect your child with adults who need odd jobs done.

o Encourage your son or daughter to save.

o Offer to pay for school activities.

Read more . . .

• parents with children ages 16 to 18

o Be clear about your expectations for further education expenses.

o Encourage your child to spend only a part of his or her earnings.

o Introduce new money skills.

Read more . . .

** Visit MVParents.com and read more about Helping Kids Make Good Money Choices, our newest Parenting Matters resource. **