Teaching Kids the Value of Money

My husband and I have a 12-year-old daughterYou have to figure out what works for you. You
who wanted to go to a winter retreat with hermay have to teach each child individually, because
church youth group last year. Price of trip - $45. Ieach is motivated differently. If your children
told her I'd talk to her dad about it. "HOW much ischeerfully hand over their allowance every time
it?" he asked, "didn't she just go somewhere withthey don't take out the garbage, you should take
the youth group?" "Yes," I replied, "and also tosome other privilege away.
two friends' birthday parties. Another one isResist the urge to give your children too much
coming up this weekend." We both agreed thatallowance. Don't buy them things that they can
was a lot of money for us to spend for oursave money for themselves, like designer clothes,
daughter to have fun with her friends.CD's, magazines, make up, video games, etc.
But the retreat was a church activity. So weEven young children can be taught to save for
should have forked out the money for her go,small things. Almost nothing makes me more sad
right? Well, maybe. In the past year or so ourthan seeing children who take their allowances for
daughter had made a lot of new friends and hadgranted and never have to work for it. Parents
been asked to be involved in a lot of new socialaren't doing their children any favors by teaching
activities. Last summer was the first year wethem to expect everything to be handed to
could afford to let her go to summer camp for athem. We sacrifice, and they don't appreciate it.
week. It pleased me more than anything to tellWhy should they? They don't have anything to
her she could go.lose.
The more we've let our daughter go do thingsSo did our daughter get to go on her retreat?
with her friends, the more she takes those thingsWe decided she could go if she paid $20 of the
for granted, and expects more. She then resents$45. She was not happy about it. She only gets
doing something so menial as her household$3 a week allowance, and she was saving her
chores. So now we make sure her chores aremoney for a new CD. She stewed about it for
done before she goes anywhere. "Room's notawhile, and then forked over what money she
clean, laundry not started? Better hurry and dohad. We worked out a payment schedule for her
them before you go do something with yourto come up with the rest of the money before
friends. Don't have time? Then I guess you're outthe weekend of the retreat, and we let her do
of luck." But that was only the start. Wheneverextra chores to earn a few more dollars. Are we
the attitude starts in she's given a warning andguilty of child abuse? Our daughter thinks so, but
then privileges start being taken away, one byher dad and I know better.
one.