The magic word that everyone understands and loves – Money. We all know money can’t buy you everything, but yet we value it’s importance for what it can buy. We all need money to survive, and to live a comfortable life. However, many people are so enthralled with the concept of having money that they want more and more money to save up, just to say they have x amount of money. Then there are some that will do anything to be rich, they will marry a rich guy to live a luxurious lifestyle of shopping therapy.
Any form of collection are things that make children happy but seem to be insensible expenses. In my days it was Hi beary stationary. It has then gone to crazy bones, and now I hear it’s napkins. Some will view these collections as a waste of money, after all if you look at the item for it’s physical worth, it doesn’t seem to be as high as the price it costs. But yet because it’s a collection it costs more. Children gain so much pleasure from collecting items. They get a sense of accomplishment from the more they collect. Parents can use this to their advantage by letting the child get their collectors items as a reward. The children obviously value it, so they will agree to the reward system. It also teaches the child how to be responsible, to not loose what they have collected, and to trade it wisely. Come to think of it, collections teach them bartering skills, and financial skills.
My view on how to go shopping, is to buy what you need and that’s it. I feel it’s a waste of time and effort to go from store to store to save the .10 or .15 you will save. If you need something you buy it at the store your at. Also, I don’t see sales as a way of saving money, but rather wasting money. Unless you need the item then it’s a great thing that it’s on sale. But if you don’t need the item and you happen to see the sale sign and decide to stock up on it, you have to evaluate your action. Look at the item again, see if it will actually be used or not, and then decide if it’s worth it. It could be that it will just sit in your fridge for days and no one will touch it. The kids may be used to a different product, and they will be left hungry if you buy the sale item they don’t like, and don’t buy the item you know they have liked in the past.
I think children should be aware that things they buy cost money, but I don’t think they should be taught too much on financial skills. There is no reason why a child should be left with guilt to buy something they need, because they are afraid it cost too much money. At the same time, you don’t want to cause your children to become money hungry. If your always talking about saving money, and how you shouldn’t spend money. Then the children will expect money by their birthday presents and will want more money than what they are given, and won’t ever be happy. Both cases will cause unhappy children. So you have to know the right balance to make children aware that things cost money, but not to lead them on to either extreme of being money hungry or self conscience about asking for things they need.