It's almost lunchtime on a Saturday. You and the family are getting ready to get in a superstore to grab just a few things for the weekend. All of a sudden you are ready to check out with the few things you needed, plus a couple of trendy accessories, a snack for daddy, and candy for the kiddos. Whoa. What just happened?
Sounds familiar? I know it has happened to me and my family… a time or two (or more times than I want to admit right now). How can we get out of the cycle of, "Can I get that?" Here are a few tips to help kids and parents alike to overcome the desire to make impulse purchases.
For starters, calm this desire of buying by simply taking a few deep breaths. Seriously, when the urge hits we need to find a distraction, fast. You and the kids can take up to 10 deep breaths and you'll see how that urge has lessened.
Have conversations about the difference between needs and wants. Kid need clothes for school. Do they need a designer wardrobe? No. Chat about where you draw the line of what the family can cover for their needs and what kids should pay for with their own money.
From that conversation you can start your kids on an allowance and the concept of budgeting. (This is a conversation that it can work as a reminder for parents as well.) Let them make the decisions of how they spend their money. Ask them, "Is this something you really want to spend money on?" The trick is to let them spend without the nagging. I know it's tough, but this way the can experience the reward of saving money to buy what they want and the sacrifices of not being able to pay for an impulse buy.
The most important thing to remember is that kids are very observant and they learn mostly by example. Every so often, it won't hurt for you to say something to your kid, like, "I would love to have that purse, but I'm going to save that money instead because if I save up enough, our family can go on a trip this summer." The message will sink in eventually.
Yoly Mason, a blogger living in Orlando, Florida, wants to live in a world where Latinas can enjoy an abundant life with a small budget, and being in debt is as out of style as the rotary phone.
Image via iStock
