Moms Talk Q&A: How Do You Teach Your Child a Respect for Money?

If you've ever seen a T-shirt with the phrase "My kids think I'm an ATM" stamped on the front, you probably had a good laugh and jokingly thought, "Isn't that the truth?" But isn't it?

We teach our kids that four quarters makes a dollar and if they leave a tooth under their pillow the Tooth Fairy will trade it for 50 cents, but do these practices instill a respect for money in kids? 

Use any cliche you want, "Money doesn't grow on trees," "Money can't buy happiness," or "A penny saved is a penny earned." It all comes down to learning a respect for money–a respect only a parent can teach.

So we know what we need to do, but how do we do it? We start today's Moms Talk Q&A with this question: How do you teach your child a respect for money?