The tears well up. Her fists clench. Your fists clench. Here it comes. The scream. The rapid-fire toe tapping. The fist pounding.
The embarrassment. You’re a better parent than this. You really are. The in-store temper tantrum is a rite of passage for many of us. Pat yourself on the back if you’re one of the few who haven’t experienced this. You’re raising a saint. Then again, you’re probably not reading this post.
“More than anything, your child needs to get comfortable with money. And to do that, she needs money of her own. “
Don’t overthink it, and avoid doing this because you’re waiting to set up the perfect system. No system is perfect to provide financial education for kids, and a certain amount of the beauty of teaching money smarts is figuring things out organically with your kids.
Ok, so back to the store: When you give your child money via an allowance, you then establish that if your child wants something, she will only be able to get that something in the following simple ways (in all but the most extenuating circumstances):
- By spending her money (for less expensive items)
- Through saving money (for bigger things)
- Via gifts or gift money
It’s pretty simple.
“Once a child realizes that you aren’t budging, the tantrum serves no purpose.”
Keep it simple for your own sanity.
Plus, there’s a bonus:
Your kids will learn to save for goals and become comfortable handling money. When it’s their own money at stake, they will also tend to become much more discerning consumers. All good things.
Let me know how it goes.