Tuesday, September 13, 2016

Turn Your Kid’s Next Treat Outing Into A Mini Budgeting Lesson

Kid In A Candy Shop

Headed out to the ice cream parlor, the candy shop, or the dollar store? Here’s a nice simple technique for turning the next treat outing with your child into a mini budgeting lesson:

  1. Set a quick budget for the outing. No tedious haggling, or the deal is off!
  2. Parent covers the budgeted amount.
  3. Spend more? Kid picks up the difference. (The Premium Price Rule.)
  4. Spend less? Kid pockets the remainder.

The arrangement invariably leads to interesting discussions about personal finance basics like comparison shopping, impulse buys, pricing, relative value, marketing, and perhaps a little buyer’s remorse in the end.

Short. Sweet. Educational.

Want to turn these tips into action? Check out FamZoo.com.

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