I've been wanting to teach Big Boy about the value of money. As in the "buying power" of money, because he does not have a clue. Once I asked him how much he thought the groceries in my basket (milk, apples and bread) should cost and he said "I dunno, a hundred dollars?" The groceries were worth less than $5.
The perfect opportunity fell into my lap this week. There is a travelling book fair at his school and he fancies a book. He saw it and looked at it but doesn't know how much it costs. I think it is probably between £2 and £4. He asked me if I could pick him up at school one day so he could show it to me. This is his code for "and then buy it...."
I told him that this week I probably would not be picking him up, but if he wanted, he could take some of his saved-up pocket money and buy the book. He never spends any pocket money, so he has quite a bit saved up from birthdays, Christmas and the tooth fairy. He was very hesitant at this suggestion so I asked him why. He said that he did not know how much pocket money he would have left if he bought the book. Because I don't know the price of the book I could not answer that, so I told him he could ask after the price and then decide. He was still hesitant. So I asked him if the issue was that he wanted me to spend my pocket money on the book so he could save his. He said "Yes! Exactly! That would be good."
So I explained how he would have to decide if he valued the book enough to use his own pocket money for it. We shall see how it turns out, he's giving it a think tonight.