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The value of a dollar – I’ll talk more about this at length in later
chapters, but if your child has never had a job or had to use his own earnings
to pay for basics such as clothing, shampoo, and cold medicine. This is the
best time for him to learn about the value of a dollar. Don’t buy supplies for
him, but instead insist that he write a list of items he expects he will need,
visit the store to find out how much these things actually cost, and then, send
him to the store with the list and a tight budget. He will quickly learn how to
economize and prioritize needs versus wants.
He might even discover that store brands usually contain the same ingredients
as name brands and cost much less.
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