Prompt: Many parents think that it is good to teach children about the value of money .Whydo you think it is important to teach them the value of money? In what ways can you help children learn the value of money?

Parents commonly believe that teaching their offspring the importance of money is a good thing. In my opinion, I completely accord with this notion. The reason for this as well as ways of educating them shall be elucidated in the forthcoming paragraphs. Ċ To begin with, an eminent adage, "Teach a child where he must go and when he grows old, he will not depart from it." In other words, parents must be mentoring their children as early as possible especially when it comes to matters that would affect their future, on how they handle things on their own. Money, for example, when not spent properly might be detrimental to one's life since it can cause a lot of evil as they say. If a child does not know the value of a coin, then he will grow up extravagant, luxurious and out of control. Moreover, he will be irresponsible and might be wasting expenses with nonsense gadgets. Therefore, young minds must learn how to allocate funds. Ċ Helping children understand the expenditures of the family might be challenging, however, it is not impossible if they see a good role model. First, elders should involve young members of the family in deciding what to buy for their daily needs considering the budget allotted for each month. Second, students must not be given extra cash or gifts unless they have achievements. The best clear example is when they top the exam, then they will have an ice cream treat. And last but not the least, once in a while, youngsters must be brought to work so that they will see the hardships and sacrifices their parents are doing in upbringing them. Hence, through these methods, children will learn the value of money. Ċ In conclusion, it is therefore crucial for elders to teach young people the relevance of money because it has a significant impact on their future and there are several ways for them to learn. Furthermore, we all should spend our money wisely and be a good example in the eyes of innocents.