I am not a rich person but my 5yrs. old child wants much as of my income?

Answer 1

love is better then anything money can buy.

Answer 2

Your 5 year old wants things. Easiest way to get them is to ask you for cash. Smart kid. No deal.

Ask him what he wants the money for. Then tell him that before he asks to earn this he must do well in school and do his chores without fuss. You want to see that he is being responsible with the duties in his life now . Then we can talk about earning money for purchases. You can give him an extra chore (s) which will pay him so much per week. Write up a ledger with his desired amount of money and subtract what he earns every week. Show him every week. Do a timeline as to how long it would take to earn his purchase, when the amount becomes zero. Then you take him to buy it and let him have the money there. He gets to pay the cashier.

Never would I hand so young a child more than enough to buy a candy bar. If you start now just handing it to him, just think what he's going to EXPECT when he gets older. This is great opportunity to teach him the value of money.

Answer 3

It seems like it might be time to set up a plan for him to earn money.
He's only 5 years old so be realistic in the amount he/she should earn in a week.
Have him do chores that is able to do around the house. Make a chart so he can see what he has done and how much he has earned. Set a value on it and pay him once a week.
If he wants something that will cost more more money than he is making in a week, teach him to save some of his money each week to go towards that item.
It's all in the process of growing up.

Answer 4

If he is old enough to demand so much money, he is old enough to learn finances. Tell him that if he can mantain finances in his copy and work out his pocket money from your income for three months in a row, he can get it. Tell him how much you earn. Tell him about any deductions (You can say government takes it as taxes), and ask him to maintain how much is spent at home. If he finds that all the expenses, savings for the future and his pocket money can go together, three months in a row, he deserves it. Otherwise, he will just have to wait until he learns to manage the finances better and work out his pocket money from your income. Since he is becoming demanding, it is the time for him to face some of the truth. Perhaps you can hide some of the expenses and put them in taxes corner, because it may not be appropriate for a 5 year old child to see.

Answer 5

How can your 5 year old child understand 'rich' and 'poor'. It is but natural that child at this age desire to spend amount for entertainment purpose.Being a father or mother, it is your duty to convince her not to spend money lavishly keeping in view of your income. If you narrate moral based short stories, your child will certainly realise and not press for money from your income. Kids short stories are most effective and influence.

Answer 6

This is a true story that happened about 18 years ago. When my oldest boy was 41/2, he used to get angry with me for not having brought some surprise for him. One day he was so upset with me that he completely forgot to give me a kiss. Then I told him that I didn’t have money. He immediately answered go, go and buy money. I then came to learn what he had in his mind. Then we sat together, and I listed my major expenses, what I earn every 30 days, etc. He remained immobile for a while and he went out without saying a word. The next morning the maid asked me for some money to buy firewood. He was upset with her, and said: do not ever bother my mom about money. She was smart enough to reply to him: who else is going to give me then? He didn't waste time to answer: go and get married, your husband may give u some. She continued the discussion saying: who is going to marry me, I am not that young? He then looked at her for a while with some sort of pity and said, I will marry u when I get older. He is now a 4th year student (23), and all those years he has never bothered me at all. It was me who had always asked him if he wanted some money.

Answer 7

At 5 yrs your boy will not understand the limitations of an income as we do. Young children also need very little to grow up and development well - you dont need to buy lots of toys or fancy clothes etc. Most children today have far too much, and they grow up spoilt and greedy. Encourage him to be creative and find ways to entertain himself. Children depend far too much on toys and gimmicks to entertain them, which is also why they are always bored.

Answer 8

Explain to your child in very simple terms that money does not grow on trees. And give him an insight of what happens if you overspend and also the value of hardwork. I'm sure you'll be able to simplify this based on your kids terminology

Answer 9

You're the parent, you decide what to buy and when. You're not doing your child any favors by buying them whatever they want.

Instant gratification is a major source of obesity as we discuss at Kimkins. Overweight people often have a serious problem with denying themselves or waiting -- they want it and they want it NOW.

Answer 10

Combined effects of the below writing acts will ease you
1. Try to make him undersatnd.
2. Try to involve him/her in study or other activities.
3. Do not full fill demand as soon as they are raised
4. Try to purchase the more things that are not costly
5. Change his/her friend circle
6. try to make your income more

Answer 11

relies upon on the autumn, in basic terms an known fall, the youngster would be waiting to get lower back up so the previous individual, because of the fact they're fragile. yet while it replaced right into a deathly fall for the two, i might ought to circulate with the youngster, yet while i ought to help the two i might.