SAN ANTONIO – Shopping for school supplies can add up for parents, but it also opens up an opportunity to speak with their children about what they can afford at the store.
The Consumer Financial Protection Bureau offers the following tips for parents on how to help their children understand shopping to make good financial decisions.
First, explain to your children that you have a certain amount of money to buy the things they need, like pencils, pens and school clothes.
Parents can include children in the buying process by showing them how to compare brands, the prices they’re willing to pay for items, and whether they shop for the best value or the first thing they see on the shelf.
Parents can then ask their children what buying choices they would make after explaining the shopping process.
When you’re shopping around with your kids, ask yourself aloud: “Do I need this now, or could I find this item for less if I shop around more?”
Finally, try giving your children a few dollars and ask them to pick out some of their school supplies items so they can get a real-world experience.