People, mostly old ones claim that the generation after them hasn't learnt the Value of Money.
Well the truth in that fact is that, 'How can someone learn the value of money without spending some ?'.
This is the paradox of values, when you can't make cakes, you can't say how it should be valued when made ?.
If a child spends 10 units to buy himself a pack of biscuits, he delineates the value of biscuits as 10 units. So later on when someone buys him a drink of Cola priced 50 units, naturally he values it higher as a matter of fact.
But a child who has never bought a pack of biscuits for 10 units will for sure think of the Cola as cheap, even worthwhile when he can just buy 5 packet of biscuits to satisfy himself for 5 more days.
But Value is inconsistent from man to man and as we know, the more we have, the less we value it. The crux of the Hyping items Economy, make lesser, sell for higher.
So to make money a valuable commodity in the later generation. Give them a limited amount each month or each week. Give them something, but afterwards strictly deny any more that they request. Unless it's for legit reasons, deny money as them going over the limit and that to earn more is upto them.
The child will now spend his limited pocket money carefully. So as to not face scarcity and labour of any form, he will naturally delineate according to his own way of checking values.
The Americans did a good job at this, so even if you find their families having a hard time, they will still be posh and cleaner than their worldly counterparts.
But then comes another problem, what is too much money and what is too less money ?. Here is where most people fail, because you can't give too much to a child and raise them as a wasteful idiot or give too less and devalue their own self worth.
Because no matter how pretty the world sounds, looking neat and tidy enough does matter. No one is searching for good hearts, at least not until they start having a hard time.
So this is where things get woozy and I think that giving accordingly to the income the adults earn should be the modus operandi. Because they will realise that the worth of their future, when they want and can't have is not that bad. So you start out small, start with an amount that is okay for the child, maybe raise it later on.
Greed is strong in children especially teenagers and young adults. But that is their drive and for them to keep that drive they need to earn.
Though most of them won't really work for their own future. It is still better to give them avenues to fullfill their want, but they have to earn what they want. Only then can they value what they have and understand what is too much and what is too less of an amount of effort.
You don't need to enforce this understanding, you let them figure it out for themselves. Because for teenagers the more you try to enforce an understanding, the less they try to understand.
So let children spend, only when they spend and waste money on nonsensical things will they know what is valuable and what is not ?.
Let them figure out their own understanding of value. You can't always say that it costs too much for your salary or let them down all the time.
Though it may take time, but in a year or two, I think your child will learn how to manage money properly without you enforcing that. But raise the pocket money every year.
Let's talk about needs, you may not realise it but needs are the crux of values. So when needs are left unfulfilled, it naturally angers your teenage child and heck everybody in the world.
Raise the amount of pocket money each year so that the little needs that rise with their growth every year can be fulfilled. Not everybody is cool when the item they want goes over their owned amount of cash just by a few units.
Lastly but not the least, a Philosopher once said that to understand Success you need to grasp the concept of Failure.
I agree and as his saying goes, to understand Value you need to grasp the concept of Expenditure.