Play the “Want vs. Need” Game to Teach Kids Money Management

///Play the “Want vs. Need” Game to Teach Kids Money Management

Play the “Want vs. Need” Game to Teach Kids Money Management

As adults, we struggle with what we want and what we need. Our bank accounts suffer due to this lack of self-control.

Learning lessons early in life helps prevent us from going into debt with too many wants and not enough needs. Here’s a simple game to teach kids this lesson in a fun way.

Shannon Ryan writing for VOSA suggests a game to teach these values to your children:

One of the best ways for kids to understand how to differentiate between want and need is to take them shopping. As you put things in your cart, ask your kids if the item is a want or a need. Let them explain their decision, then give them your answer.

This is a great time to talk to your kids about how you decide to use your money. How you budget for things like food, clothes and fun. Ask their opinion on the things you buy. For example, you need cereal, which one would you buy and why?

She points out that it’s okay to have wants. After all these are kids, and teaching them balance is an important takeaway for later in life. I know as a kid I’d see a toy on TV and say “I have to have it.” My credit card bills prove that I probably didn’t learn the difference between want and needs as much as I should have.

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By | 2017-09-23T01:12:51+00:00 July 12th, 2014|Categories: Self-Improvement, Success & Money|Tags: , |0 Comments

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