By Kendra Smiley author and speaker.
Sixty one percent of teenagers surveyed said they ‘love to shop.’ [This is probably no surprise to most of us.] So, what specifically do they spend money on? According to C&R Research…
#1 clothes and shoes;
#2 eating out;
#3 going to the movies;
#4 beverages and snacks;
#5 music; and #6 video games.
How can you help your children shop responsibly, whether it’s a small shopping spree or large one?
– Help your young adult understand the difference between needs and wants. One way of demonstrating this is by encouraging your child to participate in a mission trip. Such trips can expose your child to people in different socio-economic levels who struggle with meeting very basic needs.
– With your child’s help, make a budget for his back-to-school needs. That will give him a basic understanding of what a budget is and how it works. Let your child know how much money you will contribute to the budget.
– If you are paying the bill for everything on the budget, allow your teen to augment the amount with his or her own income.
– Teach the simple principle that you can only spend a dollar once.
– Encourage your son or daughter to wait before purchasing something on impulse. The item can always be put on hold while the deliberation continues. That is better than purchasing with the idea it can be returned later.
– Remember that if a purchase or a potential purchase is inappropriate and doesn’t meet your family values and standards, you set the limits. You are the parent.
Be sure to Stop by Kendra Smileys site and read more of her inspirational writings.