Children and Finances
Posted: September 23, 2009Source: Dr James Dobson
There is an old song that says” The best things in life are free.” That may be true, but a lot of kids today are growing up taking this sentiment too literally and they never learn the value and the importance of work.
My friend, Ron B, is a financial consultant and the author or several books about money management. He says parents should show their children the connection between work and rewards. In other words, we need to make it clear that money must be earned. Children must learn that income is the result of investing time, energy and talent in worthwhile activities. It is okay to give your children gifts and surprises of course, but make sure they understand that most things in life are not free. The hard part about teaching this lesson is that parents must endure the discomfort of saying ” no” to the many demand of the persistent children. And some mums and dads just cannot resist that daily pressure, resulting in a situation one psychologist called” denial of denial.”
In other words, every child needs tro be told ” no ” on occassion; otherwise why should they sweat for it when they can get it for free ? That’s why , within reason, I recommend that parents require children to earn their own money to buy the things they want. They will learn that it takes commitment and persistence to survive financially, which should server them well as they move into adult years.
