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what age do children start to understand about the value of money?

(6 Posts)
dilemma456 Sat 25-Jul-09 16:02:30

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Insanity Sat 25-Jul-09 16:15:38

well mine are 7 and 8, and have still not really got the hang of the value of money as such....I dont think this happens untill they leave home and have to pay for things themselves grin

My son will save xmas and birthday money up to buy himself something, he bought a DS which he had saved for about 5 months. My daughter would spend all hers on the ice cream van if I let her!

Pocket money will be dealt with at a later time, maybe in a couple of years, but it will be a case of having to earn it. I remember having a job rota when me and my brother were growing up, jobs not done = no pocket money.

Seona1973 Sat 25-Jul-09 16:16:10

dd (5.9years) still hasnt really got the idea about value of money although she doesnt get everything she asks for either. I dont do pocket money yet.

ChasingSquirrels Sat 25-Jul-09 16:20:20

I started giving ds1 pocket money at 4y3m and he v v quickly got the concept and values etc - but he is very numurate.

ds2 is 3y6m, I can't see him having any idea at the same age as ds1.

Overmydeadbody Sat 25-Jul-09 18:54:01

It depends on how much exposure they have to it.

Like anything else it is learnt, so the more exposure hi;ldren have to budgeting, saving up, comparing prices etc. the better they will be at valuing money.

Of course, until they have a firm grasp of the value of numbers, and can accurately compare numbers and sequence numbers, they aren't going to be able to value money are they?

Don't ruch into giving her regular pocket money, wait a while as you will have years and years of it grin

Compare prices of things when you go shopping with her, talk about money, let her sort a pile of coins into different values etc.

Also, buy her a whole lot of reaslistic play money so she can play and learn with that.

lljkk Sun 26-Jul-09 10:40:47

7+, ime. Even now, DC (7 & 9) think it's reasonable to pay stupid prices for things, no matter how much I try to explain how poor value those items are.

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