Explaining financial limitations to a 3-4 year old?

[socalbeach]

@ijtee “Today is not a buying day, it’s a looking day. We can write down things that we like and earn them then we can come back and buy!”

 

[silverblade]

@ijtee My son just turned 4, once a week I drag him off the acreage for all of my errands, 5-6 hours of shopping with around 2 hours of driving. I give him his weekly 'allowance,' which is $5 to get whatever special treat his heart desires, but it has to be under the $5. Having his own money has really helped him understand, and Little Man reads price tags and budgets. He will put a car back if he sees a candy he wants. I don't know if what I am doing is right, but I have never had to deal with tantrums, and I know I am teaching him how to make decisions for himself.

 

[secretchristian]

@ijtee We don't always buy her something everytime we go out. Right before we go to the mall we set her expection that we need to buy something or just eat out but we we will not buy a toy. She understood the assignment. She roams around the toys section, holds them, but won't cry or get into tantrums. She'll even say goodbye to the toys.

 

[randoman]

@ijtee A tip given on the bumpers group for my son's age, was to take a picture of them with a bigger toy and say it's for Christmas/Santa or their birthday etc, say you can take a picture with the item so we remember it, and then show them the picture afterwards, apparently that is helpful

 

[julianclayton]

@ijtee We do the whole “this is the toy’s home.” Give the toy a hug, wish it well on its journey, and put it back,

This has worked miraculously well… until her dad started taking her with him on errands and returning with birthday-level toys.

 

[masonry]

@ijtee Maybe if you make them a sticker chart and they can build up to the toy of their choice,
For example if they can't find something they want they can "save" towards the better toy each sticker is worth $5 just make sure you tell them how many stickers they need as they go along so they can reach their goal or ( this toy needs 3 stickers, this toy needs 8 stickers etc)

 

[relaxbuddy]

@ijtee I saw a really nice idea where your child can choose a can of something to donate to the food drive. That lets them pick out something but they understand a lesson that they are helping to feed someone who is hungry. I saw it as an idea for even 3-4 year olds and it got the kids to stop begging for junk for themselves.

 

[arno]

@ijtee Lots of good advice on introducing the topic of money. I would also ask if you want trips to the store to always be centered on buying stuff? Materialism is also an inherent part of the conversation of money and affordability. One way to teach good money management is also teach when to buy and when not to buy.

What does your child learn when they always get a toy? I buy books for my kids because the takeaway i want them to learn is that books are always worthwhile but stuff isnt always worthwhile.

 

[bfaithful922]

@ijtee Set the expectation before you go in. "We're buying xyz today, but no toys, OK"

Then inside when she asks "I know you want xyz but it's not on the list, maybe next week we can"
Its OK for her to be upset, remind her of that, she'll tantrum a few times and learn that this is an actual boundry. You can let her add it to a Christmas list, birthday list whatever. Let her help make the shopping list etc. It won't be fun at first but long-term it helps her learn healthy shopping habits

 

[strangertoo]

@ijtee I had the same issue! I made sure to let my son know that we are going to the store for xyz and not toys. It was especially important to prep him if we were getting a gift. I would tell him we can look at toys but we will not be buying anything. Once we got to the store I would repeat the plan and ask him if he wanted to look or if it would be too hard. As long as you stick to it they learn quickly. Now that I don’t have to prep him as much and he asks what we are shopping for/ if he can pick a toy or snack. If he sees something really cool we take a picture for Santa or for hod bday