My little boy is only 11 months old, so he likes to put any money he finds into his mouth rather than into his bank account, but I'm looking forward to teaching him the value of money, particularly as his dad and I work so hard for each penny!
So the MoneySupermarket competition asks bloggers to come up with advice on how to educate children about money and instil good savings habits.
The aim is for parent bloggers to share the tips they use to educate their own children about saving, and the best tips chosen by our judges will be bundled in with our financial expert's advice and placed on site.
My tip is to take your child to boot sales and this is something I have already started doing - whether or not the poor little chap is enjoying it so far is debatable!
However, it's something I'm sticking with. And not only because I am addicted to them! I absolutely hate shopping with a passion, but there's nothing I love more than a good rummage at a boot sale!
There are several ways that this helps teach children the value of money:
1. It shows them that there's no need to waste resources on buying something new. Buy it from a boot sale and it's really one of the best kinds of recycling! I am wearing a dress I bought for 50p and I've never seen anyone else wearing anything like it. (And judging from the compliments I get, I mean that in a good way!)
2. It stops them spending time at the shops buying things just for the sake of it.
3. Fresh air and exercise! You don't realise how far you're walking!
4. It will encourage them to sell their own unwanted toys, clothes and books when they're no longer required. Selling at a boot sale teaches you about displaying your wares to the best effect, maths, talking to strangers, customer service and haggling!
5. It encourages them to appreciate the value of money.
6. It teaches them basic maths.
7. It will make them question buying things new.
8. I find that I pick up all kinds of amazing vintage books at boot sales; I'd probably not have checked out Just William, Nicholas and Angela or even re-visited Enid Blyton if it weren't for boot sales.
9. It encourages them to sift the tat from the good value items and who knows, they might start a trading business. Isn't that how Lord Sugar started?
10. It gets them out of bed on a Sunday morning instead of lounging around in bed!