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.
2 responses so far ↓
Anu // December 19, 2007 at 7:37 am
Very true… teaching kids about money and value of things is not an easy job , but a very important one….. My four year old has now learnt to keep clothes he has outgrown for our maid’s children….. , but he still refuses to share things with anyone else !!!
A Mother’s Worries « Thoughts and More // December 20, 2007 at 11:25 am
[...] Posted on December 20, 2007. I read an interesting blog the other day, about instilling values about money, and finance in general in kids..http://jezziemapuche.wordpress.com/2007/12/19/how-to-raise-a-financially-savvy-child/ [...]