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by: WilliamBlake
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We live in an instant society. With the microwave oven, cash machines, and the Internet, whatever we want is at our fingertips in a matter of seconds. Children have learned to want everything right away. Setting limits on your children's spending habits can curb the urge to be less than patient when it comes to money.

Children's spending habits can be controlled by means of an allowance. Establishing a modest weekly allowance for children as soon as they grasp the concept of money will help them to understand the how useful money can be as well as how to respect it.

Money can also be given for jobs done around the house above and beyond their regular chores. Children are very creative. If they need to earn more money to buy a special item, they will propose almost anything to find the money.

After deciding how much you will give your children for a household job, don't change it. Allowing children to finish their work themselves and keeping the agreed on price will help them appreciate the true value of money. In order to do so, don't help them complete their jobs or give them more money because they worked hard.

Don't offer to pay for half. It is okay to make up the difference if they forget to account for tax and are short a few dollars. Coming to the rescue and offering to pay half encourages children to spend over their limits. If Mom and Dad are going to pay half for everything, then the kids will see their money as instantly doubled.

When parents don't have the money to purchase something, they have to wait until they have it. The sooner your children learn this fact the better. Managing their money at an early age gives them the skills to handle a pay check when they are old enough to get a job.

Choose specific days throughout the month to go on shopping trips and stick to them. Since children tend to have access to quite bit of cash from allowance, holiday gifts, and birthday cards, they often want to spend it whenever possible. Arranging when shopping will be done helps control how much they spend.

Even when children completely understand a rule about a limited number of shopping days, they will not stop trying to change the arrangement. Eventually, they will learn patience and financial discipline. At the same time, kids will be saving money inadvertently since they can't spend it just any old time. These lessons are essential for adult life.

Children are cute, and they know how to manipulate a situation to get whatever it is they may want. But giving into them will not help them to develop beneficial financial habits. Instead, set reasonable limits on your children's spending and watch them learn how to be responsible about their money.

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