Viva Kids World Daddy, I Want That!
Christmas is just around the corner and children's wish lists are slowly filling up. However, in today's society, when practically everything is available, children have to learn that they can't have everything. Now is a good time to discuss consumption with children and explain to them why you have to save for certain things and sometimes do without other things. After all, learning that not all wants can be fulfilled immediately is an important part of financial education.
In today's society, the temptation to make purchases is all around us: Brands put advertisements on television, on walls of buildings, in trains, and – above all – on the internet. This is affecting children now more than ever because it is harder for children to control the "I want that" impulse than it is for adults.
How do you manage to sensitize children to our consumer society? Axel Dammler, child and youth researcher and father of two children, explains: "As with everything education-related, you also have to be consistent with financial and consumption topics". He has managed to largely avoid arguments in supermarkets by creating a balance between giving in to wants and saying no: He allows his children to choose one thing they want – and one thing only – each week. The most important lesson they've learned is that you have to decide what you want to spend your money on. And they got something they wanted without starting endless "I want that!" discussions. Read how you can better balance saving and spending with your children in the interview.
Should Children Be Allowed to Buy Everything with Their Own Money?
When children go shopping, there's the question of whether they should be allowed to buy everything with their own money. Are there limitations? Daniel Betschart of Pro Juventute answers these questions in his column where he also gives tips on how parents can manage the balancing act between freedom and practical consumption habits.
Baking Pizza: Making the Price of Goods Tangible
A world with a lot of consumption also means that even small children know that every good has a price. But where do the prices come from? Why is a pizza in a restaurant more expensive than the ingredients on it? In order to make sense of the price, do an experiment: Bake a pizza together and calculate the sale price step-by-step. In our guide, "Setting the Price: Let's Play Restaurant", you will find everything you need – from the shopping list to the pizza recipe to a sample calculation.
Handling Cash Gifts Appropriately
Besides pocket change, children often receive cash gifts – whether it's for a birthday, a holiday, or just every so often. Having their own money helps children learn the correct way to deal with consumption and finances. But higher amounts of cash can influence their financial education. How should cash gifts be treated? In the article "Cash Gifts: How to Handle Them", there are tips from Pro Juventute as well as from youth and child psychologist Urs Kiener.
Teaching the Value of Labor and Wages with Certain Chores
Anyone who wants to spend money has to earn it first. In order to teach children about the value of labor and wages, it's good to have family chores suitable for them to take on. But does it make sense to give rewards for chores? Child psychologist Sabine Brunner gives tips that must be noted when it comes to chores.