When your child expresses an interest in purchasing something, but doesn’t have enough cash, it’s the perfect opportunity to discuss how people must work to earn money and save for what they want to buy.
Providing your child the opportunity to raise a little cash by doing odd jobs around the house is a great first step for this life lesson. Older children can watch younger siblings, prepare meals or wash the car. Whereas young ones can help fold laundry, sweep, pull weeds and water flowers.
You can also teach them to be entrepreneurial by suggesting they offer their services to neighbors and friends for pet sitting, dog walking and mowing lawns. Earning their own money will build a good sense of responsibility and should help them to be more financially stable as they grow older.