Taking Charge of Your Child’s Financial Education


Children are natural shoppers because they love new things, and those who do not yet know the value of money or how the monetary system works may not understand why most people simply cannot buy every single item that they want. Although no one enjoys depriving their children, some deprivation is a normal part of growing up. Moms and other parents who successfully teach their children the value of money are less likely to experience children making frustrating demands on the family coffers.

Actual money-handling skills and techniques can be taught in a variety of ways, but most children learn best through the example of their parents. Following are several ways that the average mom can help her children to become smart shoppers instead of facing a future where they’d be perpetually wallowing in debt.

Using Coupon Codes Well and Often

It used to be that people had little choice about where they shopped, but modern consumers can select from an abundance of retailers. Rather than buying your cosmetics at expensive brick-and-mortar department store counters, you can easily save money using BH Cosmetics coupons with online retailers.

Watching online retailers for specials and close-out sales is another excellent way to obtain substantial savings on health and beauty products. Because retailers have significantly more competition than they did before online shopping became popular, it is usually easy to find items such as coupon codes for BH Cosmetics on a regular basis. Moms can set a great example for their children if they let them watch while they order products online while using promotional codes or coupons and explaining how this saves the family money.

Teaching Kids to Shop Online 

By the time your children are running their own households, shopping for most items will primarily be done online. Our society is already seeing a decrease in brick-and-mortar retail establishments, and the American mall is all but dead. Teaching your kids the ins and outs of online shopping now will serve them well in the future.

Some parents provide each child with a prepaid card containing a small amount of money and allow them to shop for certain items online. If you decide to do this, however, you shouldn’t just let your children loose with the card. Make a game out of it instead to see who can get the most savings by shopping around for sales and using coupon codes.

One way to make children understand the benefits of saving is to take the amount that the child has saved and put it aside. Presenting it to the child after a few dollars have added up will provide emphasis concerning the value of learning to save while shopping.

Should You Provide Your Child With a Credit Card?

Some parents feel that children should not be given credit cards under any circumstances, and other parents believe that using to learn credit wisely is an important part of a child’s financial education. This is a highly personal decision, and some children will naturally handle money better than others. You should never provide your child with a credit card if you feel as if he or she is not ready for the responsibility.

Regardless of how you feel about giving credit cards to children, you should never do so before allowing them to gain some experiencing using debit cards. These have built-in safeguards that will protect them from exceeding their spending limit and are frequently preferred by adults as alternatives to credit cards.

56 thoughts on “Taking Charge of Your Child’s Financial Education

  1. Mys

    I didn’t know how to use a credit card. By the time, my daughter grows up, I hope she learns from my mistake and learn to manage her finances wisely.

  2. Terry

    I have friends who let their kids to use their credit cards for ‘emergency cases’ only. One of them was successful with it; her child was disciplined with the spending… But if you will ask me, I don’t think I’d allow my son to use credit cards.

  3. Glenda

    Like one rich family of Araneta were not allowing their children to handle money at a young age…they teach their children to live without it when they were young so they would not be money dependent.


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