Spend Wisely Tina from ShopaholicMommy says having kids use cash to buy what they want is best for learning money management. "With the use of debit cards, it's so easy to just charge away. One of my best tips is to have kids pay for their own items with cash. Also, allow them to collect and count the change. It can actually put a damper on their spending spree when they need to hand over their own dough. Some other good tips are showing them how comparison shop to get a better deal. In many stores they have scanners at the end of the isles so you can check the prices. I have my kids scan in the item, wait for the price to show up and then we figure out whether or not they can afford it."
Kids often don't understand why they can't get a new toy, or why a credit card can't be used for everything. Instead of getting frustrated with their demands, teach them about money and how to use it wisely. Here are five simple tricks suggested by moms. Read related you might also like:
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