“Mum, I want to buy a new toy car!”
“You’ve got a lot at home already!”
“But this one is different!”
Many parents find themselves having the same conversation with their children whenever the little ones see something they want.
Distinguish between “needs” and “wants”
Parents may help children understand the difference between their “needs” and “wants”, and explain to them why they cannot have everything they want. Besides, they can prepare a shopping list together so that they can remind each other of not buying anything unnecessary.
Steps of making a shopping list and things to note
- Determine the budget
- List out the items to buy and their estimated prices according to the budget
- Prioritise the items that are really needed
- If the total price exceeds the budget, remove those of the lower priorities
- Stick to the shopping list and budget. Learn not to buy unnecessary things on impulse and outspend the budget
- Compare the prices offered by at least two vendors and be a smart consumer
Don’t waste your money
Parents can explain to their children that a shopping list can help prevent unplanned, impulse buying, and avoid wasting money on unnecessary items.
In addition to making a shopping list, parents may also encourage their children to wait for a day or two before deciding whether they want to buy the things they like or not.
Besides, parents can also show their children that happiness comes from many different sources other than shopping. In fact, they can make good use of free resources, such as exchanging books, clothes, toys and other items with their friends, borrowing books from a library, or visiting a park with their family. This approach will help children understand that happiness is not all about money.
Free activity sheet for download – My shopping list
Parents may download this activity sheet to prepare a shopping list with your child and help them to spend within the budget.
Download here.
9 April 2020
