Values are more often caught, not taught. Talk about money choices. When your kids watch commercials on TV, especially when the product pitch is misleading or encourages overspending, seize the teachable moment and talk about how to evaluate claims. Ask them if they believe a product will really perform as advertised or if there are alternatives at a lower price. Share family finances, as appropriate.
Some parents share more information with their small children than they can handle.
A money problem that may be minor to an adult can sound very serious to a child. But giving children some say in economic choices gives them a stronger feeling of control over their surroundings. Allow for consequences. Parents should make spending recommendations for younger children but older ones should be allowed to spend a portion of their money with no strings attached. Overprotecting a child can lead to economic dependency, as seen today in many adult children who still look to a parent for money long after they leave the nest.