Shopping with grandchildren can help them to understand the concept of money and smart buying. Read on to know how you can make your grandchildren into intelligent shoppers.
There are people who feel that shopping is a futile exercise and should be done minimally. This is not really true as shopping is a means through which you fulfill your necessities. It is required that you know a bit of finance management and budgeting in order to shop according to needs. Grandparents can use this opportunity not only to get the things that they need but also help the kids learn a point or two about money matters. Practical lessons are a great way to teach young minds and whatever they witness and understand remain with them through out their lives. There are a few points that you can keep in mind while going shopping
with your grandchildren:
Take Care About Money Matters
Have talk with the parents of your grandchildren regarding the allowance that they provide to their kids. These are the rules that you too need to follow when you go shopping with them. You cannot actually change it all of a sudden for the few days that you are keeping your grandchildren with you. You can help the kids understand the concept of money in a light mode. Set a game where you engage in some counting and math games. Use coins and bills in the games. This will help the kid to understand how money is spent and also gets saved when it is not spent. This is considered to be an excellent way to incorporate money awareness. Also let them know that when you go shopping, you will be using real money instead of cards.
Make a List of All the Things That You are Going To Buy
Always make it a point that you help your grandchild learn that it is imperative to make a list of the things that you plan to buy. This is a great way to teach organisational skills and moreover, this way they will also understand that shopping is not about reckless spending on goods that are not required but a planned way to buy things that are needed.
Help Them Understand That Value Of Money
This can be considered as a continuation of the previous point. You need to help them understand the value of each unit of money spent. Kids know that grandparents are always willing to indulge in their wishes and they tend to take advantage of this emotion. But if you want to make them understand the value of money do not buy them everything that they ask for. It also works share with them real spending experiences. Discuss with the child about the product while buying it. Talk about the details of the products like durability, price, etc. This will help them realise that there are certain things to be considered before deciding to buy a product; they will grow up to become intelligent shoppers.
You Need to Be a Good Role Model
Children always learn through observing more than lessons that are preached. They will be noticing whether you are practicing what you are preaching or are acting any different. So, make sure that you follow all the steps that you are suggesting as important during the shopping exercise. It also works when you collect all the money that you have saved and go to the bank to deposit it. You should take your grandchild along and help him realise that it is important to save and this helps in the long run to meet other expenses or to buy something expensive later on.
Shopping with grandchildren can be relaxing and rejuvenating for grandparents as they are without the additional burden of responsibilities that a parent has. With ample time and loads of experience, grandparents can be a good guide to grandchildren while shopping. They can enrich the grandchildren with their experiences on money matters
and teach them the value of money. With the expert guidance of grandparents, children can learn to be money savvy from a very young age.