Teaching kids about saving money and responsible spending is one of the most important things a parent can do. We all need to learn early on that just because we want something doesn't mean we can afford it. One of our daughters is an impulse shopper. The other would rather watch her money grow in her bank account. It makes for some interesting shopping trips and vacations. And lest you be fooled that the one who likes to watch her money grow is easier to manage, let me assure you that she would much rather figure out a way to get her parents to buy the things she wants instead of taking money from her own account.
"Teaching Your Kids How to Save Money" is an article that includes several great tips on how you can teach your kids to save money and spend responsibly. We've used some of these tips in our home, especially the one about giving kids independence over their spending decisions. That one tip alone has helped to curb some impulse shopping.
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