Family FinancesGeneral Parenting

Teach Kids About Needs vs Wants

Help prepare your children to make better financial decisions in the future by teaching them the difference between needs, wants, and wishes. This works for adults too.


By Marie from West Dundee, Il

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October 11, 20070 found this helpful

I think this is especially important with the holidays approaching. When I worked retail, I saw lots of cihldren's tantrums over toys, and they were all caused by parents who didn't prepare their children for shopping. Tired or sick children should not be taken shopping, and all chldren need to understand that they cannot have everything, they do not need or even really want everything, and that window-shopping and buying presents for others can be a lot of fun too. When they learn these basics, then they can better plan for their own financial future.

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