JSFiddle - React, Tailwind, and code Playground

HTML

<link rel="stylesheet" href="https://cdnjs.cloudflare.com/ajax/libs/materialize/0.100.2/css/materialize.css">
<script src="https://cdnjs.cloudflare.com/ajax/libs/materialize/0.100.2/js/materialize.js"></script>

<div class="input-field">
  <input id="amount" class="amount" name="amount" type="text" maxlength="15" class="validate" />
  <label for="amount">Deposit Amount</label>
</div>

JavaScript

$('.amount').focus(function(){
     $(this).attr('placeholder', '$0.00');
});
$('.amount').focusout(function(){
     $(this).removeAttr('placeholder');
});