I use to hate bringing my kids to the shopping centre. Whenever we’d walk into a store, the kids would always spot one of those „must“ haves. Whenever it happened I knew there was no way I was leaving the store unless I dragged the kids out in a screaming tantrum … or I just gave up and bought what they wanted.

All parent’s will one day need to deal with teaching kids about money. More importantly how to teach their kids to be independent by earning their own money, instead of relying on parents to buy things for them.

What you may fail to realise, is that when a child really wants something either in the shops, or perhaps concert tickets to their favourite band – this is the perfect opportunity to teach them a very valuable lesson. You must keep an eye out for these opportunities, its your chance to to make them understand that parents might buy things they need, but not things they want.

Your aim is to get your kid to start thinking for themselves – what can I do to earn or save the money I need to buy what I want? To do this you need to focus on creating the mental association between their incredibly strong desires, and brainstorming a plan of action ie. not relying on you to pay for them all the time.

If you’re not careful, its just too easy to give in to your kids – I know you’re a loving parent, you’re just trying to make them happy. Its your first child, and you just want to see that smile on their face when you buy them their favourite toy. Ok fair enough, but just be very careful from the beginning not to make this something that is expected. Kids are very perceptive, and its easy for them to realise that if they whine long and hard enough that they will get what they want.

You want you kids to be independent, rather than being dependent on you. So if you take anything away from this article remember this: your choices have consequences so be very conscious of the messages you are giving your child, they are very perceptive. Make sure they make the connection, to get what they desire they must earn or save for themselves.

David Rokhan has helped many parents teach their kids about money, for an awesome free report visit Teaching The Desire To Earn.