It can buy beautiful cars, big homes and lots of other things. Although money has been called the root of all evil, it's not. It's the love of money that may do people in. Some psychologists say that the number of people suffering from depression because of money is on the rise. Dergan said that teaching a child that money is the only important thing in life will lead him or her to a very superficial, perhaps neurotic, future.
Rich kids can get a false sense of importance.
Some poor kids may be left feeling worthless. Maria Mendez, who was poor as a child, said that she sometimes felt worthless. However, it wasn't the lack of material possessions but her mother's bad attitude about money that still haunts her. Dergan says that cases like Mendez's illustrate situations where parents teach children since the earliest stages of life that money equates with morals and life values. There are steps that parents can take to give their child a good attitude toward money.