Back to School | Teach money sense during back-to-school shopping
Why not turn your family’s back-to-school shopping experience into valuable life lessons to educate your kids about money?
According to Deborah Gilboa, M.D., aka “Doctor G,” a leading parenting expert, family physician, author and media expert, these five tips will empower parents to raise money-savvy kids.
Sort through belongings: Before you begin shopping, take inventory of what you already have. Whether it is school supplies, clothes or sports equipment, you and your child should sit down and decide if some old items can be reused for the new school year.
Make a shopping list: We tend to shop more responsibly when a list is guiding purchases. Together with your child, write down what clothing and supplies they will need. A list helps cut down impulse buying.
Build a budget: Discuss with your child how much money they will have to spend for back-to-school. Remember to include any of their own money or gift cards. This will encourage them to look at price tags and understand how to make informed decisions about their purchases.
Clip coupons: Even kindergarteners can cut out coupons, and retailers have tons of them available for back-to-school items. Tweens and teens can challenge each other to see who can save the family most money. They can check online for sales and use discount websites.
Share the pain: If there is a big ticket item that your student “must have” and you believe it is a reasonable purchase, offer to share the cost. Kids who spend their own money tend to take better care of their belongings and may even reconsider the purchase.
Doctor G’s book “Get the Behavior You Want … Without Being the Parent You Hate!” will be available Sept. 10, 2014.
For additional information visit http://www.askdoctorg.com or connect with Facebook, Twitter, YouTube, Google+ and her RSS Feed.
ABOUT DOCTOR G
Doctor G is a clinical associate professor at the University of Pittsburgh School of Medicine, where she received her medical degree, and a frequent lecturer at her alma mater Carnegie Mellon University, where she earned a bachelor’s degree in drama.
Author of “Teach Resilience: Raising Kids Who Can Launch!,” “Teach Responsibility: Empower Kids with a Great Work Ethic,” and “Teach Respect: That’s My Kid!” her activity books are designed for today’s busy parents with age specific tips and ideas for building character in kids. She also serves as television personality, having appeared on CBS’ Pittsburgh Today Live, ABC’s Windy City Live. Additionally, she regularly contributes to Huffington Post Parents, Your Teen magazine, Parents magazine and MSNBC.com, while her recognitions include the Bristol Meyers Squibb Award for Clinical Excellence and The Excellence in Teaching Award.