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Are you amazed by how much stuff kids have nowadays? From smartphones and gaming consoles to numerous Lego toys, they seem to have it all. For parents who grew up with less, today’s kids can come across as so much materialistic or even spoiled.

But why is this happening?

Instead of teaching children the value of money, many parents simply buy them whatever they want.

If we want the next generation to be less spoiled but more generous, we need to change our approach. In this article, we’ll explore how to achieve this by discussing:

1. Don’t Pay for Chores: Children should do chores as part of their contribution to the family, not for payment. This teaches responsibility and teamwork.

2. Give an Allowance: Instead of paying for chores, give an allowance. This teaches them to manage their own money.

3. Start Early: Encourage children to start working as soon as they’re able. This helps them understand the value of money and hard work.


Teach Your Kids About Money to avoid Spoiling


What’s one of the most common complaints parents have about kids today? Many would say they’re spoiled. Often, when we think “spoiled,” we think “money.” This leads some parents to avoid discussing money with their kids, fearing it will make them materialistic and money is everything in their mindset. But that’s a misconception.

Being spoiled isn’t just about money. Spoiled children typically share four traits:

1. They have few chores or responsibilities.

2. They don’t follow rules or schedules.

3. They get too much attention from their parents.

4. They own many material possessions that fill his or her room

As we can see, only one out of four traits is related to money and teaching children about money can help prevent them from becoming spoiled. Kids who learn about money also learn thriftiness, budgeting, generosity, and patience – qualities that counteract being spoiled.


Encourage Generosity and Patience Through Money Lessons


One of the best ways to teach generosity is by giving kids the chance to give. Promote patience and thriftiness by encouraging them to save money or make do with what they have.

Unfortunately, talking about money with children is often considered taboo. Many parents avoid the topic because they’re embarrassed about their financial situation or don’t want to compare themselves to others. But avoiding the topic means children miss out on important lessons about money, leading them to become spoiled.

Answering your kids’ financial questions honestly and showing them the cost of things is crucial for raising unspoiled generous children. But how can you effectively teach them about money?

Kids often bring up money on their own, maybe because a classmate made a comment or they overheard a conversation between parents. Whatever sparked their curiosity, they wanted to know more.

When your child asks, “How much do you earn?” you might feel embarrassed. You might worry they’ll compare your income to their friends’ parents or start asking for more expensive things. But instead of brushing off their question, try responding with a question of your own: “Why do you want to know?”

Here’s why this approach works. Often, kids ask about money for a specific reason such as a fear of moving houses, while “Are we rich?” could come from wanting to help a friend in needs, or wanting to learn something that requires tools that may cost more than usual items. Understanding the reason behind their question helps you provide a more meaningful and reassuring answer.

Once you know why they’re asking, it’s important to answer honestly without lying.

Openness about money is key, and it would be even better if you involve your kids in financial decisions.

How can we do this?

1. Show Them Bills: Explain that everything you do costs money. This helps them understand the connection between work, spending, and living expenses.

2. Guess the Cost: When you buy something, ask your child to guess its price. Correct them if they’re wrong. This helps them learn the real value of money. By asking them to guess and show them actual costs, you help them understand the true worth of money.

By being honest and involving your children in everyday financial decisions, you help them develop a healthy understanding of money and its value. This will aid them in becoming financially responsible and unspoiled individuals.


Letting Your Child Practice with Money: The Path to Understanding Budgeting


Giving your child an allowance is a powerful way to teach them the importance of budgeting.

Remember when you were a kid and got spending money? Many parents who give their kids allowances are on the right track.

Allowances offer excellent practice for kids to learn about money and how to spend it wisely. As soon as your child can count, start with a small sum, like $1 per week.

But don’t tie your child’s allowance to chores.

Household responsibilities, such as washing dishes, should be done because they are necessary, not for financial rewards. If your child protests, remind them that parents don’t get paid for these tasks either.

Once you’ve established an allowance that isn’t linked to chores, let your child spend it however they wish—even if they make mistakes.

Most kids will likely spend their money on things such as the latest cheap toys. It’s beneficial to let them make these mistakes because each dollar wasted is a lesson in budgeting.

However, this doesn’t mean you should avoid discussing their spending habits. A great approach is to explain the different purchase options and the difference between wants and needs whenever your child is ready.

For example, they can choose to buy the expensive, trendy sneakers that everyone at school has, or they can opt for the durable timeless design ones that will last much longer. With your guidance and their practice, they’ll learn to budget better.

As your child becomes accustomed to managing their allowance, gradually increase it. This will also incrementally increase their financial responsibility.

By allowing your child to handle money and make decisions, they’ll learn the value of budgeting and develop financial responsibility that will benefit them throughout their lives.


Raising Unspoiled Kids by Teaching Them to Wait


We all love seeing the joy in a child’s eyes when they receive a toy they’ve been wanting. It feels great to give, but it can be easy to overdo it. As parents, we often think our children need more things to fit in with their friends, and spending money on them can seem like the quickest way to help them gain acceptance.

However, giving kids everything they want makes them define themselves by their possessions. Conversely, children who don’t get everything immediately learn patience.

So, how can you balance teaching patience with ensuring your child isn’t excluded by their peers?

A good tip is to aim for your child to be the middle in the line. This means they won’t be the first among their friends to get the latest gadget, but they won’t be the last either.

This isn’t a strict rule but a guideline to teach kids the value of waiting. It helps them think more about what they ask for and enjoy things more when they finally receive them.


Support Your Child to Get a Job to Learn


Just 150 years ago, many children faced long, grueling hours at tough jobs instead of enjoying childhood and education.

Thankfully, child labor laws now protect kids from such hardships. But we’ve swung too far in the opposite direction, where many parents do not let their children work at all but only focus on studying. This mindset can cause kids to miss out on valuable learning opportunities.

Safe, age-appropriate work can teach children numerous skills such as communication skills by interacting with colleagues and customers that will benefit them later in life. It also teaches reliability and responsibility since they need to show up on time and perform their tasks well. These lessons will give your child a significant advantage when they enter the adult workforce.

Aside from the skills they gain, another benefit of your child getting a job is the ability to earn their own spending money. Spending money they’ve earned themselves also helps them appreciate its value more. They’re less likely to waste money they’ve worked hard to earn compared to money that’s simply given to them.

But perhaps the most crucial benefit of working is the boost it gives to a child’s sense of confidence, modesty and independence which are hard to learn merely by reading books.


Teach Your Kids the Importance of Generosity and Giving


Teaching the value of generosity in your kids is crucial. Encouraging your child to be generous when they can is a great step towards developing an unspoiled generous human being.

In addition to generosity, it’s important for kids to understand their own privilege and recognize that others have much less.

Teaching children perspective is essential, yet many parents find it awkward to discuss wealth and social class. You can help your kids gain perspective by being honest about your family’s financial situation and involving them in volunteer work to help those less fortunate.

You don’t need grand gestures like sending them to a less developed country. Simple acts like volunteer work at a homeless shelter can provide valuable insights and foster empathy.




Whether we want or not, money is a fundamental part of life and affects almost all decisions that our children will face in their life ahead, and a financial education will not only shapes bank accounts but the kind of people our children become.

To raise unspoiled, generous, and enlightened kids, it’s essential to be open and honest about money.

The best way for children to learn the value, importance, and limits of money is through a hands-on education.

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