Hills Bank employees s Parents’ Wal
Parents should show their kids that they can’t afford everything they want either. It is good for kids to see that parents have to say “no” to themselves too. This could be brought up while window-shopping together.
Ways to Save Give your child suggestions for how to save money. For example, use coupons or utilize sale prices and rebates.
Record Keeping Encourage your child to keep receipts and a record of what they have spent.
The Big Picture Encourage your child to look at the bigger financial picture. For example, a movie involves more than just the price of the ticket. Movie ticket $9.00 Gas (about 2 gallons) $8.00 Popcorn $5.00 Pop $3.00 $25.00 plus time and energy Explaining the bigger picture will make them aware of all the factors.
Help your child evaluate wants and needs. Make sure they understand, even in the simplest terms, that some of the allowance is for things they need, and some is for wants.
MARKET RESEARCH Teach your child how to plan purchases in advance. Encourage them to do research and wait for the right time. Demonstrate how to make unit-price comparisons, and check for value, quality, availability, repairability, warranty, and other comparison factors. Don’t assume they know what these terms mean.
Paying Bills When it’s time to pay the household bills, invite your child to watch. Show them how to use a checkbook, online banking system, or mobile banking.
Cash Only Please Allow your child to pay in cash so he gets the idea that cash and change represent hard work.
Parent Pages 9
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