Also, parents can borrow from children to further expose children to this concept. Gifts Children often receive gifts of money. Unless the gift has been given for a specific purchase or the amount is very large, children can decide how to spend the gift money. Naturally, parents may offer guidance at any time. Giving to others also should be encouraged.
Children can spend money to buy gifts, or they can use their own time and energy to make gifts.
Parents can encourage even young preschool children to decide on gifts themselves. Mrs. McCall may save time by selecting a gift for her son Tommy to take to a friend's birthday party, but Tommy will learn little about deciding on gifts or the joy of giving. The pleasures of gift giving and gift receiving are positive aspects of life we all enjoy. Money means different things at different ages. As children grow they expand their money management abilities, with the early years providing the foundation for later growth.