The best way to teach kids financial literacy is in the context of their everyday lives. Here’s this month’s teachable money moment:

The next time you’re out shopping with your child and she finds something she wants to buy (with her money, of course), have her think about the number of work hours or jobs that are necessary for her to pay for the purchase. For example, have her come up with the number of hours she would have to babysit in order to buy the item. Or how many lawns she would need to mow. Or how many cans she would have to recycle.

Giving her the opportunity to think about her purchase in terms of the work involved allows her to have a concrete representation of the effort behind the purchase. And she just may decide that her time and effort is a little more valuable than the item.

An added bonus: She may also develop a greater understanding and appreciation of the choices you make with the money you earn.