Everything has some value either this way or that way and money possess that charm and value added to it that no other thing on the Earth can replace it. However, it takes too much time to tell a kid about value of the money. And it is a double edged sword, if you do not discuss things with kids they would take it for granted and force them to listen on money after some times your words would start boring him. Following, is a stepwise guide to teach your kid about the value of the money according to their age.

Kids at 5 year old and Younger: When kids are at this age, by showing coin and bills can develop his interest into money. While at shopping, show him how money is exchanged for goods and services. It is better telling your kid to save money in piggybank and let all his gift money to be in it instead of saving accounts. If possible, read books telling kids about saving money.

Kid at the Age between 6-10 years: Now your kid is bit younger, assign him chores in return for cents. And give him money only, if the job is done in proper and accomplished fashion. More you can start a second piggy bank and tell that half of his/her allowance go to his first piggy bank and another one into second bank from where it is for transferred into long term savings. Provide them with board games related to money like Payday, Money Bags and Monopoly Junior, etc.

Between ages 11 to 15: Now your kid is in his teens, tell him about other additional chores like cleaning out the garage or helping you run a yard sale. Take him along you to open a saving account for replacing long-term saving piggy bank. And tell him that he is expected to contribute for his tuition fee. Create an online account and tell him all about the bank statements so he can observe his savings regularly.

Now above 16 years and more: Now encourage your kid to get a part-time job and continue saving money into saving accounts.  Apart from traditional job like working in a retail store, he like a math whiz can teach younger students or offer computer classes to senior citizens.  Also introduce him with concepts like loaning for larger purchase at the same time developing habit of charity too.