5 Questions to Ask Your Child to Encourage Them to Think Before They Buy

Mindful Spending

Updated April 2, 2023

Raise your hand if your kid has ever watched a commercial and immediately demanded a unicorn Huggle Pet 🙋‍♀️. Has she walked through a grocery aisle and suddenly can’t live without Trolls-themed jelly beans? Or, has your child ever gone on a playdate and left asking for the Hot Wheels racetrack he never knew he needed?

Our kids are simply reacting to spending triggers that they must learn to navigate as they get older. Even adults have impulses to spend. We all fall prey to those targeted Instagram ads and one-click purchases. Sometimes it’s almost too easy to give our dollars away.

How can we all be more mindful about our spending? And how can we teach our kids to do the same?

1. Help them understand why they want to buy the item:

“Do you think you’d play with this LOL doll enough to make it worthwhile, or do you just want it because Sofia has the same one? If that’s the case, you can share hers on your next playdate and save your $11 dollars.”

2. Tell them to take a pause before purchasing:

“That sure is a cool Beyblade. Let’s take a photo of it, and if you still want it tomorrow, we can come back with our spending dollars and buy it.”

3. Make a list with them before they even enter a store:

“We need to buy three birthday gifts in this toy store. Let’s write them down and only purchase the items on our list. Can you help me cross the gifts off as we find them?”

4. Encourage them to keep in mind their long-term money goals:

“That Ring Pop is yummy, but if you decide to buy it, it will take longer to save for the Spiderman Lego set you’ve been really working towards. Let’s take a minute to think about that choice.”

5. Talk about prioritizing purchases from companies that align with family values:

“I know you are thinking about which backpack you want to get for the new school year. Let’s choose one from State, which donates fully-stocked backpacks to children in need and let our dollars do double duty.”

The Takeaway

Parents can help kiddos be mindful before they hand over their hard-earned allowance dollars. By prodding them to examine their moods, emotions and impulses, we can help our kiddos make smarter spending choices.

What’s more, mindful spending teaches kids not only to buy fewer things, but more importantly, to buy what really matters to them. By spending mindfully, they can get closer to their savings goals without getting sidetracked by unnecessary spending.

PSA - This advice isn’t just for the kids...we can’t be the only moms out there who have impulse swiped on a new pair of sneakers lately. 🤷