Appropriate age group(s):
Pre-school and up.

Description of technique for teaching kids the value of money:
Use regular shopping trips to the grocery store or special trips to the toy store to show your children how much a dollar can buy.

When you're at the grocery store, compare prices with your children. Tell them and show them (with actual dollar bills) how much those cookies that they want cost. Let them count out the money and pay for the groceries at the check-out line. You'll be surprised how effective this is!

Just recently, my children's Grandpa sent them $5 each in their Valentine's Day cards. So I took them both to the toy store and let them pick out toys that they could afford with their $5.

I think it was a real eye-opener for my five-year-old who said to me, "Mommy, I never realized toys were so expensive, we'll have to tell Grandpa to send more money." And a real eye-opener for myself. I realized that I had better start teaching the value of money and incorporate an attitude of gratitude.