First cover the theory
This is perhaps the easiest part of the journey, but one which should be taken seriously nevertheless. Go through the theory with them first, covering basics such as a comparison between the value of similarly priced products and services. Does the fact that an iPhone costs as much as an exotic holiday getaway make it as valuable as that holiday, for example?
Put some practical exercises into effect
Next, take things out into the field and put some practical value discovery exercises into effect. Perhaps have the kids present when you revise your monthly budget, asking them for some of their input and guiding them where required. If one of them has been asking for an expensive gadget for example, rope them in to go through the numbers so that they can get a sense of what would be required in order for them to get their expensive toy, and more importantly, cherish and value it once they get it.
Guide them from the consumer’s point of view
Simply take them shopping and as you throw each next grocery item into the trolley, tally up the costs and discuss the implications this has on the overall family budget you have to work with that month. The sooner the kids learn the true value of money by witnessing first-hand how much everything costs, the better. Also, they’ll learn to appreciate everything they get and minimise wastage.
Crossing over to the other side of the fence (guiding them from the producer’s point of view)
Perhaps an expansion on the legal representation example discussed earlier is in order to best explain exactly what I mean by taking things over to the other side and guiding your kids from the point of view of producers and service providers as a means through which to progressively and effectively teach them the value of money. So I meant to discuss how something like a legal issue is one of many unexpected costs which could pop up and eat into the budget one has going, highlighting the need to get the kids in on the action by letting them know of these things.
To plant a seed in them that could help them make better decisions about their futures, whether career-wise or just generally, you could discuss the possibility of getting into the production side of things as a possibility to capitalise on channels through which to accumulate monetary value more efficiently. By extension this naturally means there would be a retention of value as well…
Use legal services providers such as Mitchell & Crunk Criminal Defense Attorneys as an example of being on the “other side” – I mean as much as this particular law firm does indeed offer a free initial consultation, when one is in need of criminal defense services you have very little choice in the matter and you simply have to dig into your pockets in order to secure those services. This is when the true value of money comes to the fore.