Kids and Cash
Before I venture down this scary path, let me assure you that I have fallen into the hands of an incessantly whiny child begging non-stop for the Lego kit, or the snack on many a shopping trip. It is hard when the child is very young, to say “no”, because you want to avoid a meltdown and tantrum at all costs.
It is also hard when they get older, as attitude becomes part of the reaction, complete with stomping off or silent treatment, or bad mouthing such words as “You never buy me anything I want!”
Well, if you can’t avoid taking your children shopping with you, it is best to have a plan in place before you get in the car. With toddlers and pre-schoolers, distraction is key. Bringing along a favorite toy and a baggie of snacks will usually prevent major breakdowns and embarrassing tantrums. Be sure the child is not overly tired to begin with. You will most definitely lose the battle if it is nap time.
With older kids, starting with kindergarten, they are beginning to understand the concept of chores, or helping around the house. Be sure to commend them for the great job they do when they help out, especially without being told, or without complaint. You will be preparing them for a future position in the workplace where teamwork, initiative and cooperation are highly valued.
When our boys were old enough to understand, we began having conversations about commercials on TV. Of course, everything offered is like a Golden Carrot being dangled before their hungry little eyes. Marketing at its best!
We talked about what was interesting to them and why. Then we set a plan to start saving money for the purchase. (If we thought it was an appropriate purchase.) We set up a time table and how much they would need to save each week to meet their goal.
I recommend paying them cash, and letting them put it into a piggy bank or a box. Let the SEE the cash piling up. Today we whip out that debit card for everything. Children think if you have that magic card you can buy anything. Make it concrete for them. Of course, at an older age you’ll want to help them open a savings account and keep adding to that balance.
Then, when you take them shopping, those impulse buys will be easier to set aside. You can remind them of how they are saving for a goal. Do they wish to spend some of their hard earned cash now and delay reaching their previous goal? Do they really want to wait longer for that special item?
See, you are no longer the “bad guy” in this scenario. The child learns to make choices, delay gratification, work hard toward a goal, and take responsibility. You have the joy of watching them learn these lessons and the satisfaction that you are teaching excellent life skills. It’s a win-win, and who doesn’t like that?
