Teaching a child the value of money
Last week, my son wanted to buy the Star Wars Transformer he's been eyeing for the last month. My wife finally relented and they went to Toys 'R Us. My wife called me up and told my son to talk to me to see if I'll allow him to buy it. I told him that he can buy it as long as he pays for it. Being 4 years old, he doesn't really understand the concept of money and exchange yet. But I thought this might be a perfect way to teach him the value of money. So my wife paid for it and I told him that I will take the money he spent for the toy from his piggy bank. So last night, I sat him down and we counted out the money he spent. At first I took out the the Dollar coins and quarters, but when I counted out $22 worth, it barely reduced the content of his piggy bank. Since he's only beginning to learn how to add, it's a little difficult to get him to understand if I took the actual amount. So I decided to count out the pennies and nickels instead, now we're talking!...