How to Avoid an Impulse Buy When Shopping With Kids
Follow these five steps to curb your little one’s “I want” tendencies.
3. Decide if You Have a Spender or a Saver
Observe your child: Is she a natural saver who is great at self-regulating? If so, you’ll want to ask her questions about
what she’s saving for. This way you can be sure you’re comfortable with what she wants to buy, and also use the conversation
to teach simple research and math—talk about how much the item costs and whether you might be able to find it cheaper someplace
Using your account in the Money Center, you can help older kids set a Priority Goal and show them how long it would take them to reach it depending on how much money they set aside. Check in every so often to see if they’ve reevaluated, Lieber suggests. “One of the beauties of having them save and wait is that the intense desire for this or that almost always ebbs over time, only to be replaced by something new!”
If you have children who like to spend, adjust your response. You shouldn’t nag, but Lieber suggests going through their rooms and doing a clean up together every six months or so. You can ask, “You spent two dollars on this toy at the museum, and now we’re getting rid of it. Did you get your two dollars out of it?”
The beauty of this system is it gives you an easy out during those toy-aisle meltdowns. If they’re begging for something they haven’t saved enough to buy, the answer is simply no. “If they’ve reached a goal, let them see it through and buy the object of their desire,” says Lieber. On the off chance you were going to get them the same thing for Hanukkah or Christmas, just get them something else instead.
If you have younger children who are too little to understand allowances or saving, at least refrain from buying anything simply because they’re whining and crying. Otherwise, you’ll teach them that acting badly gets them a reward. Instead, be comfortable saying no, and dealing with the occasional tears or tantrums.
4. Make a Game of Buying
If your family isn’t ready to out-and-out stop buying any wants for your kids, there are other ways to create more mindfulness
When Lieber’s daughter was young and they brought her to Disney World, her parents let her buy one item of her choosing. That turned the trip into “an exercise of weighing alternatives and budgets and delaying gratification, and not grabbing the first shiny object that was appealing.”
Don’t forget your own behavior, since your kids are watching you closely. Every so often, it might not hurt for you to say something to your child, like, “I would love to have that dress in the window, but we are going to save that money because we’d like to go on vacation this summer.” The message will sink in eventually.
5. Neutralize Peer Pressure
Peer pressure around who has the most stuff can feel like it’s happening at a younger and younger age. If your child is upset
that another kid has something and he doesn’t, try to remind him of the things he gets to do that other kids can’t. For example,
maybe he’s on the travel soccer team that goes on fun day trips; Mom or Dad works someplace cool and he gets to visit; your
family is taking a special trip over the break; or a parent or grandparent has a special skill and built him something special
to play with.
The goal here is to remind your child that everyone gets to be first at something.
Related links from LearnVest:
- How to Know If You’re Spoiling Your Kid
- Raising a Successful Kid: 4 Things You’re Doing Wrong
- Sign Up for LeanVest’s Debt-Diminishing Financial Bootcamp