My Daughter Is a Brat

Hi Barefoot,

How can I teach my 13-year-old daughter the value of money? She will not stop asking for an iPhone 6s. We have explained to her that we do not spend that much on presents, and we would not spend that much on a phone. She has her dad’s old smartphone at the moment and an iPad that was required for school. I hope you can explain to her that spending top dollar just to have the newest of something is not always a wise use of money.

Nicole

Hi Nicole,

There’s a simple answer to this problem: introduce your daughter to the wonderful world of work. It’s a few years too early to send her down the coalmines, but that doesn’t mean she can’t do household chores for you and get some pay for it. Get her to divide her pay equally into three jam jars: spending (iTunes), saving (iPhone) and giving (for all those kids in Africa who don’t have an iPhone). Kids learn by doing, not by being told. (They also learn by watching -- could it be she’s modelling you?)

Scott