Money is not a concept to be taken lightly or joked about, no matter how little or lot you may have of it. Every child needs to be taught the significance and importance of money as it is an essential commodity for our day to day lives.
Here is how you can teach them about money:
If the child is small and is the stage of pretend playing, you can introduce them to a shopping game. The game can be made realistic with them being asked to use money or some other things to buy what they need. This will teach them they can’t get everything they set their eyes on and everything comes at a price.
They are not going to use real money, but a game where 2 kids are given an equal amount of money and being allowed to shop as they please for a fixed time period can be a good game. At the end of the game, you can show them who has money left and can buy the special toy from Doodlebuckets waiting at the counter, etc.
Earn At Home
You can let older children do chores around the house and earn their pocket money. Chores like cleaning, mopping, taking out the garbage, running errands, etc are safe for kids but they will never do it without motivation. By making them earn it, you will be teaching them the relation between hard work and pay.
As children grow, you can let them take simple tasks around the neighborhood to earn a little more. Tasks like babysitting, taking the dogs for a walk, cleaning cars, etc are again small responsibilities but will teach them a lot of value. However, one must be careful and keep a close eye on the activities the child is taking up to earn money.