When you think about where you spend most of your money as an adult, the answers are likely simple: housing and food. Think about all the time that you or your spouse spend going to the grocery store, making sure that the pantries are stocked to your liking. If you’re cost-conscious and want your children to be also, why not smarten up on your grocery spending habits and take your children along with you? You might end up saving even more money than you already do on groceries, and your children will learn valuable lessons at the same time.
A family of four that uses coupons can save more than 1,800 dollars a year. Going to the grocery store and involving your kids in the selection of coupons can be a great way to get them used to the idea of savings. Having them search for the item shown in the coupon is a lot like a scavenger hunt and many children, particularly the younger set, respond well to making coupon-searching like a game.
Another way to impress upon children the desirability of savings to explain that if you save more money on groceries, you might be able to give them a little more allowance at the end of each week. This perk shows children that saving the family money will make sure that they end up with more money for themselves, as well. This is a great way to get your children sharp-eyed for bargains at the grocery store!
You can explain to your children the importance of meal planning, and why some things are more expensive than others. Show your children the difference sizes of bottles and why buying the bigger “more expensive” items can end up saving money in the long run due to the fact that you end up with more product for unit price. You may think that these concepts might go over your child’s head, but kids are quick and can generally grasp these concepts faster than you might originally think that they can.
Mostly, impress upon your children the importance of a grocery list and of sticking to it. “Impulse buys” are a great way to drain your financial resources quickly – in order to impress this upon your children, tell them that the next time they go to the grocery store, you’re willing to spend three dollars so that they can buy a single item, like candy or a toy. Have them add it to the grocery list. This teaches them the value of planning ahead – and also protects the parent against the child wanting twenty-nine things at the grocery store!