Making Cents on MetroFM – 2022.01.18

How to teach spoilt children about money

Mary J was invited by SPHEctacula and DJ Naves to share her views on the topic of how to teach spoilt children about money.

According to Psychology Today, spoiled child syndrome is characterised by excessive arrogance and immature behaviour resulting from the failure of parents to enforce consistent, age-appropriate limits.

Children should be encouraged from a young age to solve any small disputes on their own. That means parents should not try to meet their child’s every desire all the time, especially when it comes to money.

Questions explored included:

  • When is it a good time for children to start earning money around the house, without breaking child labour laws?
  • What are healthy financial boundaries between parents and children?
  • Why is it bad to spoil children with money?
  • How can adults understand how their relationship with money affects their children?

Listen below.

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