DLTK's Crafts for Kids
Spending Wisely with Young Shoppers
Hey there, fellow parents! Today, I want to share my experiences teaching my kids the art of spending wisely. With so many choices and temptations around, it's crucial to instill good spending habits in our children. So, let me walk you through the steps I took to help my little ones become smart shoppers.
Needs vs. Wants
One of the first lessons I taught my kids was the difference between needs and wants. We sat down and discussed how needs are things we must have to survive, like food and shelter, while wants are things that make life more enjoyable but aren't strictly necessary, like toys and games. This conversation laid the groundwork for understanding how to prioritize their spending.
Activity: Needs vs Wants
Here's an engaging and educational activity to help students and children differentiate between needs and wants, while also encouraging their creativity.
- Begin by providing each participant with a blank piece of paper.
- Instruct them to divide the paper into two sections, labeling one as "needs" and the other as "wants".
- Ask the students or children to think about three items they genuinely need and three items they desire or want.
- Encourage them to illustrate each of these items within the appropriate section, either by clipping images from a magazine, drawing images or by writing a brief description, whichever appeals to them. This allows for self-expression and creativity, while also accommodating various skill levels.
- Once they've completed their drawings or descriptions, have them share their choices with the group. This will promote discussion and help them understand the distinctions between needs and wants.
- Optionally, you can extend the activity by asking them to identify the reasons why certain items fall into the "needs" category and others into the "wants" category.
By giving students and children the option to draw or describe their needs and wants, this activity fosters creativity and critical thinking while teaching essential life skills.
Comparing Prices
Next, I introduced the concept of comparing prices. When we went shopping together, I encouraged my kids to look at different brands and stores to find the best deals. We talked about the importance of getting the most value for our money, and they quickly learned that the most expensive option isn't always the best choice.
Understanding Sales and Discounts
We also explored the world of sales and discounts. I explained to my children that while sales can offer great savings, they should be cautious not to buy things just because they're on sale. We practiced looking for real bargains and understanding when a discount was truly worth it. This helped my kids develop a critical eye when it came to shopping.
The Power of Budgeting
Finally, I taught my kids about the power of budgeting. Together, we set a budget for different categories, like clothing, entertainment, and gifts. I explained how sticking to a budget can help them avoid overspending and save money for their future goals. We even created a simple tracking system so they could see where their money was going and make adjustments as needed.
As my children became more experienced with spending wisely, I watched them grow into responsible and thoughtful consumers. They learned the value of money and the importance of making smart choices when it came to their purchases. So, fellow parents, I encourage you to embark on this journey with your little ones - teach them the art of spending wisely, and set them up for a lifetime of financial success. Happy shopping!