Being both frugal and conscious has become a sign of the times, and kids are exposed, more than ever, to ways to save money, shop wisely, and conserve food and materials. As a parent, you have a primary role of showing your child what it means to be a consumer in a world of constant advertising and spending.
A family must have a good sense of evaluating the true value of a product before deciding to buy it. This includes researching the item, comparing it with similar products online or in the store, and determining how long you’ll need this product. Before heading out to purchase something, the whole family should discuss how much you’re willing to pay, too. Sticking to the agreed price promotes budgeting skills and self-control.
Distinguish between ‘wants’ and ‘needs’. One way to identify a need over a want is to ask: Do I already own something similar? If your child realizes she already has a pair of mittens but not a beanie, she knows to buy the hat instead.
At the cash register, estimate the total cost of your shopping excursion. Over time, your child will gain a better idea of how much today’s products cost. Compare the goods. Let him assist in comparing the specs, prices, and availability of products.
Talk about taxes, fees, and extras. Discuss possible ‘hidden’ or extra fees your child may stumble upon when they purchase something. Expose the dark side of holidays. At the mall, show your child how holidays such as Labor Day and Memorial Day coincide with major department store sales. Ask them to take note of when Christmas goodies are stocked on grocery store shelves or when Valentine’s Day candies or Easter treats appear.
Flip through magazines and examine how a product or service is being sold. Is a celebrity endorsing it? Are you pressured to buy it because everyone else has one? Do humor or fear persuade you to purchase? Or are you lured by a catchy slogan?
If you want to open your child’s eyes to the ugly and mindless side of consuming, volunteer together at a soup kitchen or homeless shelter, to show that not everyone has the option of ‘wanting’ something. They will realize how good they have things when they see other children who really do go without.