Happier holiday finances the Saving SANTA way - Part 3
3. Needs vs. Wants - help your child understand the difference between needs and wants. Retailers and marketers “sell” to our wants and feed on our emotions to capture our purchasing dollar. Children are easy targets for mass media advertising and the temper tantrum at the store check out counter is not an unfamiliar scene for most parents. By teaching your children about the necessities for life and how to plan and save for the wants, empowers them to budget their money, have choice and make sound purchasing decisions in the face of high pressure advertising campaigns. Your children will learn about the power of delayed gratification which is the cornerstone to developing healthy saving habits!
