Most Helpful Guys
No, kids have no understanding of the value of money. You, can however, use certain parenting techniques to teach them. For example, giving them pocket money for doing chores and have them buy their own clothes and toys with that money so that they appreciate the valur of hard work and money. Very good if you have to support multiple children.
When I was a kid, I preferred to know because I was curious and I wanted to estimate and compare various things, the same way I learned to appreciate classical inequalities like Cauchy Schwartz, AM GM, rearrangement and majorization etc. Ideally I would want my children to appreciate classical analysis in the same way. But you know how kids are, the more you push them in one direction the more likely they run to the opposite direction :)) so I think I would offer them a choice, I would ask them if they want to know, if they don't care, fine. (I'd only disown my kids if they don't understand Rudin's principle of mathematical analysis before eighteen)
Most Helpful Girl
No, and If you buy anything moderately expensive, they'll expect the same amount spent on them.