HOW TO TEACH YOUR CHILDREN TO SHOP SMARTLY?

It is needed to instill in your youngster the importance of saving. Reasonable spending should be among included steps. Knowing how to shop properly is a basic life skill for all children. It's great to help your kids become smart shoppers by teaching them about money, comparing prices and other factors before deciding to buy a desired item.  

 

kid-shopping

 

Shopping is seemingly common to all. Parents ought to teach their children this skill at an early age in order to make them be proactive and independent and to help them get used to spending money and understand the importance of using money wisely. 

 

Here's how to teach your children to shop smartly.

 

Give Your Children a Fixed Allowance Every Month

Children will learn how to shop wisely when parents give them a monthly budget so that they can make their own spending decisions, go shopping for themselves if needed, and learn how to save…

 

Children are usually very excited when they have the freedom to use a certain amount of money, so very quickly they will spend it all. Taking that opportunity, parents should give advice to their children to learn lessons for themselves. In addition, parents can use a small bonus to praise their children for tasks that they have completed according to the agreement and teach them how to save money so that they can buy the items they want to buy with that amount of money.

 

Allow Your Children to Participate in Shopping

Whether shopping online or at the supermarket, children can learn to compare prices and the quality of goods by watching their parents discuss the selection of items.

 

kids-shopping

 

Parents should encourage their children to participate in the shopping process by explaining specifically the shopping choices that parents make. For example, why choose this type of milk and not the other, is such a price reasonable and worth buying, etc.

 

Besides, if the child is interested, parents can ask them to do some things such as writing a shopping list for the family or remembering for them the items to buy more; viewing bills and pay, check change.

 

Teaching Children Consider Quality

Explain to your child that price isn't the only factor to consider when making a purchase. You can teach your child about the quality, in addition to the cost of the goods. Tell your child about the brand name, origin, nutritional ingredients... and explain why this item is more expensive than another item of the same type. It would be better to tell your baby about durable, long-lasting products and cheaper products that are of poor quality and break down faster.

 

In addition, children will not understand the value of money if you always buy goods with a card. You should shop with cash each time you go with your baby. Explain to your child about cash, different denominations, and payment cards when making purchases.

 

List Things to Buy Before You Go Shopping

Parents can suggest that children make a list of essential items to buy before going shopping. Then together survey information about items including where to buy, price, coupons... You can completely recommend your children to look for discounts and deals on each time of shopping as it is one of the easiest ways to save. Finally, estimate and prepare the total amount to spend and go to the store to shop. This helps them shop smarter and not overspend or buy things they don't really need.

 

Teach Children the Criteria for Choosing Goods

For each type of product, there are specific criteria for selection. When buying things for the family, parents should explain the criteria to the child. For example, for bedding, how to choose the fabric, or for food, how to choose for freshness, etc.

 

If children buy things for themselves, parents should advise on items that are suitable for the child's budget and still ensure quality. At the same time, you should show them which items to invest more money in, and which ones to invest less money in.

 

Most of us often think that spending money is an adult's business, so we don't let children participate in shopping. However, shopping is a basic but necessary skill and can indirectly teach children many useful lessons, especially the meaning of money. With the above tips to teach children to shop smart, parents can rest assured that their children will learn how to spend money wisely.

 

See More: Ways to Save Money for New Moms