What to Do If You Have a Spoiled Kid
Will Spoiling Your Kids Really Make Them Horrible People Later On?
Teaching Kids the Value of a Dollar
Teaching your kids about money from a young age is a surefire way to combat spoiled behavior down the road. Do they need to know how to balance a checkbook by age 3? No. But giving them the rundown on finances in a digestible way for their age will prevent them from thinking cash just sprouts from a money tree in the backyard.
Talk to your kids during day-to-day activities about the prices of things, like groceries or an ice cream cone. Borba thinks it’s important to teach children financial literacy without physically forking over the dough to them.
And if your child is old enough to do chores, make sure they complete them without any tie to cash at first. You can give them an allowance down the road and incorporate concepts like budgeting by asking questions like, “How much money do you think you’ll need for back-to-school shopping?”
