1. Don't be a slave to labels or the Joneses.
It doesn't matter whether it's new, used, free, or handed down - if it's an appropriate item of clothing, toy, or book, the child will love it, no matter what it's origin.
2. Decide what your priorities are.
Some things are worth the money, like health care, wholesome food, museum memberships, and education. Other things are not, like brand name toys and clothes, expensive games, and fads. My sons get more pleasure and benefit out of our museum membership than they will from any video game system.
3. Education is priceless, but doesn't have to be expensive.
Reading a book is just as much (if not more) fun as watching a movie or playing a video game (not to mention cheaper, more portable, and better for you). Look for opportunities to learn all around you in the "real" world (wish I had known this before going into debt to go to a private college).
4. Take care of yourself.
Exercise is free! Just follow a 3 and 4 year old around for a day.
5. Don't leave money on the table (or floor).
Finding a penny on the ground makes your entire day! (Ok, I have to admit that I didn't learn this from my kids - I've known it for years! But my oldest son did find two pennies on the floor of a restaurant today and was over the moon).
6. Life is not all work, and it's not all about money.
We have started to offer my oldest son, age 4, chores that he can do for extra money. If he's in the mood, he'll do it and add a quarter to his piggy bank. If he's not, he'll turn us down. It's a good reminder to not give up all your pleasure for a little more money and to balance yourself. (Of course, there are still chores he MUST do without getting paid!)
7. Choose your purchases wisely.
My sons love to look at toys on the computer - for hours if we let them. They have money in their piggy banks, but have not yet decided on what they would like to buy (although it will, without doubt, be some Thomas the Tank Engine toy). Take your time and look over your options - then you will be truely happy with your decision instead of regretting it the next day.
8. Stop eating when you're full.
My kids are great at this one. When they are full, they stop eating. When they are hungry, they eat. How many of us truely listen to our hunger when we eat? I know eating can be a habit, a crutch, or a hobby - and the more you eat when not truely hungry, the more you spend (not to mention health-related costs of overeating).
9. A kiss is better than a Band-aid.
Sometimes all you really need is a kiss, a hug, or a kind word - not medicines, flowers, or retail therapy.
10. The best things in life - hugs, kisses, and 'I love you' - are free!
No explanation necessary