Let’s face it, we’d all love to spend our money on the things we want all the time, whether it’s that new pair of trainers or even that fancy new TV. Unfortunately, the reality is that we wouldn’t have enough money for all the essential things we need on a day to day, such as food, rent, bills, etc.
Kids don’t always pick up on the difference between the two, and who can blame them with all the exciting items in the shops? But helping them understand why we sometimes have to prioritise for the things we actually need can really help them to be more considerate with their spending.
Start by writing down a list with them and place different items under a column of ‘wants’ and then the essentials under a column of ‘needs’. Breaking it down in simple terms can help to remove the immediacy of purchasing and encourage them to make smarter spending choices when they’re out and about. Check out this handy article we’ve written for more info on opening up the convos with your kids on needs vs. wants.