Your Kids and Money: It Can Make Them More Greedy
Did you know that money affects children's behavior even if they don't know the value of it? That's what a new s urvey is saying. The act of handling money makes young children work harder and give less, according to new research published by the University of Minnesota's Carlson School of Management and University of Illinois at Chicago, reports newswise.com. The effect was observed in children who lacked concrete knowledge of money's purpose, and persisted despite the denomination of the money. "Money is a double-edged sword. It produces good outcomes in terms of concentration and effort, but bad outcomes when it comes to helping, taking, and donating." the web site quotes Professor Kathleen Vohs, the Land O'Lakes Chair in Marketing at the University of Minnesota and co- author of the study. Five experiments and one study tested 550 children (ages 3-6) in Poland and the United States. In one experiment, the children were asked to...