Why is it that we "Never miss the water until the well runs dry?" It is the same with money. When there is plenty, most people tend to spend it freely. It seems to take "hard times" to help us realize the value of money. When children easily get what they want without earning it, they do not realize the value of money. It is necessary for children to work to earn money to realize its true value.

The Christmas season is a good time to teach the value of money. Now is the time that children can be earning money to buy gifts. It is a good idea to start children with small money-making projects. Large projects can be divided to keep children from becoming discouraged. For instance, children can rake leaves to earn money. Instead of requiring a child to rake the entire yard, the child might be paid a certain amount for a section of the yard. Getting paid more often is an incentive to keep working. The amount of work should be adjusted according to age and ability.

It is a temptation to see a child working hard and to feel sorry for the child. Some will be tempted to overpay the child. The amount paid should be fair. The child should be paid no more or no less than the going wage for the type of job being done. Full pay should not be given unless the job is done well. This is the way it is in real life and we prepare children for real life by being realistic.

Picking up and selling black walnuts could be a family project. I know a family who earned more than $2000 one year by doing this. They went into the towns of Neosho and Granby and found houses that had black walnuts in the yard. Many people were more than glad to have them picked up. This is an excellent project to teach money value. It takes a lot of walnuts to make a little money. However, it is better to make money, even if it is a small amount, than to just sit around doing nothing.

Cutting and selling wood is another good family project. Even very small children can stack wood as dad cuts it. Even if you don't live at a place where there is wood to cut, many people around have either fallen or standing trees they would like to have taken care of. Some still have trees from previous ice storms that need to be cared for. They would possibly give you the wood for cutting it up and removing it.

When children help earn money, they are much more careful about spending that money. They may become very creative in thinking of ways to make money. They become less wasteful and take better care of the things they have.

If children can learn the value of money while they are young, they will likely be good money managers in adulthood.