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Parents should help their children understand money. 1. So you may start talking about money when your child is interested in buying things, candy or toys, for example.

The basic function of money

Begin explaining the basic function of money by showing how people trade money for goods or service. It’s important to show your child how money is traded for the things that he wants to have. If he wants to have a toy, give him the money and let him hand it to the cashier.

2. . When your child grows a bit older and understand the basic function of money, you can start explaining more complex ways of using money.

Money lessons

Deal with money lessons with openness and honesty. 3. . If you must say no to a child’s request to spend money, explain, “You have enough toy trucks for now.” Or, if the request is for many different things, say, “You have to make a choice between this toy and that toy.”

4.

Begin at a big store. Pick out similar brands of a product— a famous brand and an ordinary brand, for example. You can show your child how to make choices between different brands of a product so that you can save money. 5. . If he chooses the cheaper brand, allow him to buy again with the money saved. Later, you may explain how the more expensive choice leaves less money for other things.

A.Value of money

B.Wise decision

C.Tell your child why he can or can’t have certain things

D.Allow the child to choose between them

E.Talk about how the money bought the thing after you leave the toy store

F.The best time to teach a child anything about money is when he shows an interest

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