Shop at Live Auction and Teach Your Child the Value of a Dollar

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Shop at Live Auction and Teach Your Child the
Value of a Dollar by Deb Weidenhamer,President
CEO
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Teach Your Child the Value of a Dollar

• Teaching your children the value of dollar has
  always been and will always be extremely
  important.
• Experts strongly encourage parents to teach
  their children about the value of money and to
  work to foster positive habits and attitudes.
• They advise parents to use everyday
  opportunities such as paying bills, grocery
  shopping, shopping at live auction, withdrawing
  cash from an ATM and visiting a bank to teach
  their children.
• These lessons can begin as early as age three or
  earlier if the child begins to ask about money.
  This presentation will provide a few tips that
  will help parents teach children the value of
  dollar.

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Talk to Your Children About Money

• It is important for parents to talk to their
  children about how you earn an income and how to
  plan carefully when spending.
• When you take your child to a grocery store, you
  should explain to your child why you purchase the
  products you are purchasing.
• For example, if you buy an item in bulk because
  it is on sale, explain to your child the
  importance of buying items at a discount.
• Live auctions are another location where you can
  teach your children the importance of purchasing
  quality items at discounted prices.

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Set Limits for Your Children

• Even if you are extremely financially
  successful, it is important to avoid being over
  indulgent and purchasing your child everything
  they ask for.
• If you simply fulfill your childs every
  request, you may deny your child a few things
  motivation to work hard appreciation for
  material things and things that cannot be bought
  persevering through frustration and obstacles and
  the importance of achieving a goal.
• It is important for parents to learn to say no
  to their children and to stay firm.

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Allow Your Children to Manage Money

• When your child is the proper age, begin to give
  them an allowance, you may want to associate this
  with chores.
• However, it is not necessary but you do want to
  provide some general guidelines on how to save
  and spend money.
• You can encourage your child to save money for
  an item they desire or advise them to bring their
  allowance along to the grocery store or live
  auction and decide if they want an item enough to
  purchase it with their own money.

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Teach Your Children to Give

• Teach your child the importance of giving and
  the good feeling that can be associated with
  sharing his or her income with a friend or family
  member.
• Encourage your child to contribute regularly to
  a charity or donate money at church.
• You can also give your child the responsibility
  of purchasing birthday presents for friends or
  family members.

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Be a Good Role Model to Your Child

• Being a good financial role model may be the
  most important element to raising financially
  responsible children because children are more
  likely to imitate what they see as opposed to
  listen to what they hear.
• You can take your children to a live auction and
  teach them numerous financial lessons. Live
  auctions offer attendees the opportunity to
  preview items and can help teach children how to
  determine the value of an item.
• Live auctions also provide parents the
  opportunity to teach children how to dictate
  costs and properly budget money. Finally, these
  live auctions offer parents the opportunity to
  teach their children the importance of purchasing
  quality items at a fraction of retail prices.

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About the Author

• Deb Weidenhamer is President of Auctions Systems
  Auctioneers Appraisers, Inc., based in Phoenix,
  Arizona. They specialize in auctions and
  professional appraisals. Visit us at
  http//www.auctionandappraise.com/ or call
  800-801-8880 for more information about our live
  auction company.