Page 77 - Workbook2E

YOUR FAMILY’S ATTITUDE TOWARDS MONEY MANAGEMENT
What do you think about your children’s money and possessions?
Now consider each of your answers to the $ Quiz for Parents...
1 I consistently give in to my children’s demands for more things, whether or not I think they’ve earned them.
Think about your children’s attitude and yours, regarding the value of earning money and things. Some parents think it’s important to reward their children with money when they do household chores. Other parents think these rewards can become nothing more than bribes. Then every request to do a household job is answered with, “How much will you pay me?” What do you think about what you’re teaching your children regarding the importance of earning money and personal possessions?
2 I give my children a regular allowance and allow them to decide how to save and/or spend it.
Consider your and your child’s views about allowance and the importance of learning to manage money. Some parents think managing an allowance gives children an early opportunity to learn about fixed, variable, and flexible spending. Other parents may think receiving an unearned allowance gives children a false understanding of money’s value. Making decisions about children’s finances can be complex. How are you teaching your children to handle money?
3 My children’s rooms are nearly overflowing with toys and other fun things, largely because my neighbor’s children have the same.
What is your and your children’s attitude, concerning the value of possessions? Do your feelings about their possessions reflect your feelings about your own possessions? Do you try to keep up with your friends and family? Do you spend more money and effort satisfying your children’s basic needs or their personal wants? What are you teaching your children about the difference between needs and wants?
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