I had a penny, a bright, new penny, I took my penny to the market square.

-When We Were Very Young A. A. Milne

(As your child will probably attach the same value to money as you do, we won't go into much theory here.)

A child's first impression of money is that it is something grownups like, so he does, too. He notices that it has a nice shape, and a pleasant, hard feel, and makes a good noise when it jingles.

But the moment he tries to get hold of some of it, he is told two facts: Money is not something to put into your mouth, even though it feels nice there. And, second, money is not to play with!

By the time he is around three he learns that money has another value-it can buy nice things, like balls, gum, or balloons. But when he asks for it, he is apt to be told that if he is old enough to spend it, he is old enough to earn it-which is not true; or, he is not old enough for an allowance-which is not true either.

Soon after this he finds out that some kids are "rich" and some kids are "poor," and it is better to be "rich" than "poor."

So you can see your money troubles start at preschool age.

Here are a few ways preschoolers can learn to handle money and also have fun:

A pig bank for relatives to put money in. It is amazing how much of a treat it is just to drop a penny in a pig bank, accompanied by much ceremony.

When he is old enough, let him run into a store with some money for a simple purchase. It doesn't take very long, either, for him to learn to return the change to you.

Money teaches people to make choices, which is a mature thing to learn. Let him have a nickel that will buy an ice-cream cone or a plastic car, and let him decide which, if it is not too difficult for him.

Give him play money. A toy wallet is fun, too. You can play Store with him, and around four and a half, you can even play Savings Bank.

Tell him how Daddy earns the money, and how it is used. Let him visit Daddy at work, if possible.

Let him in on simple, not-too-long-range decisions you are making, such as saving for a TV set, or power lawn mower.

Let him have five cents a week, and give it to him, even when he forgets to ask for it. He can spend it when you go to the grocery store, and this will also prevent nagging for everything in sight.

Don't start a work program to earn money until you think he is ready for it Most children, at preschool age, are too young to carry through.

Don't pay him for ordinary household jobs which will eventually be part of his responsibility anyway. Otherwise he will begin to bargain for money every time he ties his own shoes.

Don't take an allowance away for bad behavior. What if your husband took away your household money every time he disagreed with you about something ? An allowance has to be a certain amount of money which can be counted on, every week.

Don't let him handle amounts of money that will upset you if he loses it

At Christmas time, let your child have ten or twenty or one hundred pennies. Show him how he can divide them up to buy gifts for everyone.

If your child is given money, offer to keep it in a special place, just for him.

When he goes to the bank with you, explain that this is where you keep your moneys just like his pig bank.

Be sure the principles you learned about money as a child are still valid in present-day society before you pass them on as Absolute Standards. Credit, for example, used not to be so respectable. And a nickel doesn't go as far as it used to. Taking a little child into a dime store to spend a nickel may be a frustrating experience.

Things Children Sometimes Do With Money

Spend it foolishly. (A Best Buy to you is not necessarily a Best Buy to them.)

Bribe other children.

Give it away.

Lose it

Hoard it

You can guide them with your best advice, but remember that just having the use of some money is good experience.