Two significant aspects of your kids’ financial education are learning the true cost of things, and managing a budget to cover needs and wants. Having your kids assume purchasing responsibilities is the best way to teach these lessons in tandem. Following is a list of possible responsibilities to consider gradually introducing, over the continuum of your kids’ development:

Trinkets, inexpensive toys, & stickers
Candy & small snacks
Larger toys
Video arcade
Snacks at the movie theater
Birthday gifts
Holiday gifts
Vacation splurges
Movie tickets
Music, games and videos
Holiday costumes
Tickets for experiences (miniature golf, amusement parks, zoo, etc.)
Hobbies, arts & crafts
Charitable giving
School supplies
Summer activities / extra spending
Sports and activities
Sports equipment
College savings
Electronics
Clothing
After-school snacks
Tickets to school games and dances
School and group travel experiences
Concert tickets
Toiletries & cosmetics
Accessories
Hair care, manicures & pedicures
Eating out with friends
Gym, trainer, sports
Cell phones
Social outings
Gasoline and car maintenance
Car insurance

 


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