Like most parents, I like to treat my kids: occasional movies, ice cream, the candy shop, that kind of stuff. I also like to emphasize the value of a dollar and encourage moderation. So how do you do both at the same time?
Here’s a technique I like to use:
- Set a quick budget for the outing. No tedious haggling, or the deal is off!
- Parent covers the budgeted amount.
- Spend more? Kid picks up the difference.
- Spend less? Kid pockets the remainder.
Simple. Effective. Even educational. The experience invariably leads to interesting discussions about things like comparison shopping, impulse buys, buyer’s remorse, pricing, relative value, marketing, etc.