A family approach to teaching children about responsible spending, both online and offline.
Instilling Financial Responsibility Early
Suzanne Quan-Chai, a mother of two, has found a unique way to teach her children, Charlotte and Jenson, about responsible spending. When making online purchases, she includes them in the decision-making process. The family sits together, browsing different websites, and comparing product features. This interactive process helps the children understand the various factors that contribute to a wise purchase.
Suzanne points out important details like delivery costs, delivery times, seller ratings, and customer reviews, as well as potential warranty offers. This hands-on approach allows her children to learn not just about the items being bought, but also about the practical aspects of shopping, such as budgeting and evaluating product quality.
Balancing Online and Offline Spending
Beyond the digital realm, Suzanne emphasizes the importance of making thoughtful purchasing decisions in all areas of life, whether in a physical store or online. By incorporating her children into her shopping routine, she’s teaching them essential skills in financial responsibility. Whether it’s calculating costs, considering alternatives, or understanding the impact of impulse buying, these lessons will help shape their financial behaviors as they grow.
For parents like Suzanne, guiding children through responsible spending decisions today sets the foundation for their financial independence in the future.
