How great would it be to come up with a pre-made list of things to save up for as a kid for YOUR child…and at the same time be able to quit saying “no” to your child at the store to all the stuff they want?
Do you think I’m CRAZY for saying that you should quit telling your child “no” at the store? Stick around. I promise there’s really a money lesson in this for your little one.
Hi, I’m Amanda L. Grossman from MoneyProdigy.com where I teach kids aged 8-13 how to save money through educational adventures, like the Mt. Everest Money Simulation.
And I’m a mother, too. The amount of “no’s” that we get to dish out each day is unreal. It gets tiring, and honestly, sometimes I feel bad about saying “no” all the time!
So, if “no” has become your store mantra, I want you to try these two No-Proof Store Trip Strategies.
No-Proof Store Trips Strategy #1: Make a Wishlist of things
Your child can carry around a notepad/pencil, or you can keep one in your purse. And each time your kiddo has his mind fixated on something on the shelf – something that surely will change his entire existence and be the bee’s knees and he’ll be sure to play with it for umpteen years and take care of it and everything – you are going to ask them to write the item down on their Wish List.
Now, how can you use this wish list?
:: Save it for Christmas/holiday times and give your child a head start on their wish list.
:: Use it when relatives ask what they should get your kiddo for their birthday.
:: Use it as a cooling off period. Set up the expectation that any thing they write on the wish list is sealed for 48 hours, a week, or a month. After that time, you’ll both assess whether or not to actually buy the item.
No-Proof Store Trips Strategy #2: Put the Responsibility in their Lap
You’ve got perfect fodder to capture your kid’s interest in learning about money. And more importantly, in learning about how to save money. So, let them save up for it!
Their wish list can be the first step in going through a savings goal setting exercise for your kiddo.
Now that they’ve got a bunch of ideas, take them through this 1-page guide (click below) to narrow down their savings goal to the one that will yield the quick win. Because right now, they need quick-win savings goals to keep them interested in the process of setting a target savings goal and giving them some confidence in actually reaching it.