When kids want you to buy something, they don’t always learn the value of money. It’s your money, not theirs. Agree to pay the lowest price you can find for an item they want.
Photo by Harsha K R
FamZoo explains how this valuable lesson works:
Tell your kids you’ll cover the cost of the bargain or used version of an item. If they want the premium or new version, they will have to pick up the additional cost from their own savings. If your kid finds an item cheaper than your target price, let her pocket the difference.
Simple, but effective. Check out the links for other tips on teaching kids about saving money.