Its never too young to start teaching your kids the value of a dollar! And you know lessons learned early really do work. I just got back from a weekend at Disney with my daughter and some friends. It was interesting as I watch other kids asked to buy things at every store—my daughter did not. Even as she patiently walked around looking at stuff while her friends money seemed to burn a hole in their pocket. How did this happen—well it has been along road and one we started at a very young age. How did we get to this point? Here is the path we took, and yes it started around the age of four!

Weekly family chores. No allowance or money was paid, it was just part of pitching in as being part of the family. (These were things like clearing the table, setting the table, making the bed)

Ways to make money. We didn’t call this an allowance at a young age, but if she wanted something really bad, we provided ways for her to earn money so she could buy it.

50% of every monetary gift goes to savings. , Yes even gift cards – we would let her spend 50% of the amount on the gift card and the other 50% we converted to cash to put in her savings. We started this so young, that she doesn’t even think twice about it now.

Establishing  the difference between a want and a need. When ever she said she really needed something from a piece of candy to something bigger we would explain she didn’t need it she wanted it. And wants are something you save for. I have even heard her correcting herself with her friends now, “well I don’t really need it”!

Practice Delayed Gratification. We would make her wait for things. A hard lesson, but one of the most important ones you can teach your child or yourself for that matter. •