My favorite financial columnist Jonathan Clements wrote an article in Monday’s Wall Street journal about 12 steps to raise a financially aware child. The gist is that they are responsible for their spending. He mentions that to be financial successful kid must learn 1) delay gratification and 2) assume some sort of risk.
A is only 4 but he has picked on that somethings are not the right price or aren’t worth the space they take up in our house. On a recent trip to S. America I pointed out the kids that don’t have enough and make sure he is grateful for what we have and doesn’t take it for granted. Today I was cutting some boxes for recycling and he asked if the poor people are going to pick it up. Which led to a discussion that we have a different kind of poverty here.