(Image source from: Kids learning money value likely to become less generous)

Your six-year old kid may not know the value of money. He may not understand what money can buy for him. But, the moment he gets to know its value, the knowledge can make him less generous in nature, revealed a research.

In simple words, the knowledge about the value of money or the act of handling money can most likely make then children work harder at the same time give less. The effect was observed in children lacking concrete knowledge of the purpose of money and persisted in spite of the denomination of the money.

Study’s co-author, Kathleen Vohs from the University of Minnesota, said, "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 study researchers carried out five experiments and a study as well. A total of 550 children aged between three and six participated in Poland and the US.

In an experiment, the researchers asked children to sort out either money or buttons before finishing a challenging puzzle. The pre-schoolers were asked to help the experimenter in preparing a task for another child, after sorting buttons or money. Children sorting money helped less in terms of gathering crayons for the experimenter compared to those who had first handled buttons.

The University of Illinois, marketing associate professor, Lan Chaplin said, "Our findings with children as young as three years old suggest potentially significant implications for achievement, generosity, and interpersonal harmony."

The paper is forthcoming in the journal Psychological Science.

-Sumana