Gimme, gimme, gimme. If that refrain sounds familiar, then you may have a materialistic kid. With all the online and television ads --- not to mention peer pressure -- that bombard kids every day with the coolest, trendiest toys, it's no wonder kids want more and more stuff. If your child expresses a need to fill up that piggy bank, then there are several ways to handle it. A passion for money isn't necessarily a bad thing, and in a younger child, the fascination can be fostered by focusing on the math aspects of money. Help your child learn division, multiplication, subtraction and addition by teaching her about the different denominations of money. From there, money management is the next skill she can master. If you give an allowance, then divide it into percentages to save, spend and donate. That way, the amount of disposable income your child has for whatever you don't cover as parents can't be disputed.
What you do pay for and how much you spend on items such as clothing, entertainment, gifts and other things should be clearly laid out. Lead by example when it comes to focusing less on money and "stuff" and more on people and the inner qualities that make them "rich." For example, if you find yourself complimenting or coveting others' possessions, then try to focus on the qualities money can't buy. Teach your children to appreciate what they already have by showing them what it's like not to have much. Volunteering at a soup kitchen or donating toys to Goodwill are good ways to do this. If you choose to buy a gift for your child, then make it something you can do together, like a girls' day manicure for a tween girl or a fun video or board game you can play together.