Every parent wants to have the best for their child. The best of the clothes, the best of the schools, the most expensive and trendy toys and so on. You can find parents who spend a bulk of their salary on their child to make them happy. They may even go as far as changing their whole lifestyle to suit the whims and fancies of the child.

All these are great gestures, but take a pause and think of the consequences these would lead to. When you give into each and every desire of your child you are showing them that they can have anything they want, they simply have to ask. Eventually you would spoil them and they won’t have any regard to how they get what, they simply demand for it.

It is important to teach your child the importance of money from a very young age. You would feel like showering them with gifts and toys, but it would only convey the wrong message to them. Make them earn what they want, but make it seem like a reward for something good they have done. For example, once she has saved enough money from doing chores, take your daughter shopping for some really nice pretty dresses for her summer wardrobe . Also, take your son to buy that new video game he wanted that he earned from a summer job.

You can give your child the things he wants in the form of prizes. This way he would learn to respect the meaning of earning. It builds their character and makes them dedicated to their work. Or you may give them pocket money which would make them responsible for what they want and buy, and let them know the value of saving as well. Through these small gestures your child would learn the importance of money.