As a parent you hear your kids asking about getting new stuff or trying to be the first to get it before anyone else did. I hear this almost daily from one of my four kids. They try to negotiate from making a deal for it to throwing a tantrum over it.
I have tried to teach them getting a brand new toy or video game is not always the best thing to do. My oldest is now into going to Game Stop and get a slightly used video game then paying full price for a brand new one. It saves him money and it is a way he can be frugal.
The three younger kids are having a hard time with this since they are really too young to fully understand this. Don’t get me wrong, I do buy brand new stuff for my kids just not on a daily or weekly basis. We are just frugal on what we spend our money on.
We save it for vacations and other major purchases that our family enjoy. Last year we saved enough money to go to Disney World in Florida for the first time as a family. It created memories that we will have for the rest of our lives.
If you don’t teach your kids about spending correctly then they grow up to just spend money and get into financial trouble. That is what I’m trying to avoid for them.
What was the last time your child wanted something brand new and what did you do? What kind of spending habits did you learn from your parents? Feel free to leave your answer in the comments and I will respond to the questions you have.
A to Z Challenge Letter N