My Toddler's First Purchase With His Own Money

Why Teaching Money is Important

I started giving allowance to my 3 year old . He gets 300 rupees per week .

In the first week he did nothing with that money . The concept was quite new to him. so we put that in savings .

The next week we went to a toy shop to buy a gift for someone else and that is when he saw a car he wanted. 

I told him if he has enough in his spending pouch he can buy the car but then he would not get to play any extra games in the game zone.(6 games were his weekly quota)

We asked the price which turned out to be exact 300. The smile on his face was priceless. The first thing he bought with his own money.

That day he did not ask me for any extra games . he carefully chose which 6 games he wanted to play in the arcade. 

He left the game zone happily without throwing any tantrum( that had never happened before).That is the power of choice . 

Giving him an allowance and the freedom to use it gave him the power to choose . He was happy with his choice and hence no tantrums.