Parenting: Teaching Kids the Value of Money

It is hard for my kids to understand why they cannot have some of die-cast toy cars of the "Cars" [movie] collection because some cost more than others. There are a couple that cost $39 while the rest cost in the range of $4.95 - $14.95. The difference in price does not make much sense to adults either, but we understand that it's a marketing gimmick. But, our challenge is, how do you explain that to kids when all they see is a die-cast toy car from their favorite movie, and they just want to complete the Cars collection? How do you explain to a kid the concept of "expensiveness" - that is - "it is more expensive, therefore, you cannot have this one!"

Teaching children the value of money is more difficult in today's cashless culture where checking accounts, ATM cards and credit purchases are part of our every day life. So, it really becomes a necessity to teach our kids at an ealier age that "money does not grow on trees." This issue becomes even more challenging as children grow older, their expectations and peer pressure grow, and their techi toys become more expensive.

So, I set myself in search of parenting tips and bumped into this book, "Money">http://www.amazon.com/gp/product/customer-reviews/0764224476/ref=cm_cr_dp_pt/104-6158584-0843140?ie=UTF8&n=283155&s=books">"Money Doesn't Grow on Trees: Teaching Your Kids the Value of a Buck" by Ellie Kay. It was rated with 5 stars by customer reviews in Amazon.com. There are some more to check out as well in www.kidsmoneystore.com. If some of you have read already one of listed books in this site, we would love your comments.

Your wallets will thank you, and guess who else too?