TOPIC:

The Need for Choices and Trade-offs

RESOURCES NEEDED:

Computer

LEARNING OPPORTUNITY:

Children need to learn that money doesn’t  grow on trees. Learning at an young age to curb the impulse to shop, shop, shop, will help them to be financially responsible as adults. The need to think about their spending options and see that trade-offs are made when money is spent.

THE ACTIVITY:

• Ask your child what is a shopaholic?
• Open the following website to view the video “Please Little Spender, Think.” https://vimeo.com/212836240
• Watch the video together.
• Discuss with your child what the important money concepts are in the video.
• Watch the video a second time to reinforce the important money concepts. Then ask your child questions such as:
  • Why do they call Pepper a shopaholic?
  • What kind of sales did she see on TV and at the mall?
  • How did the advertisements she saw influence her?
  • Pepper wanted to go to a concert, but she spent all her money shopping. What should she have done to make sure she had enough money for the concert?

FOLLOW UP IDEAS:

• Look at ads on TV, in magazines, in newspapers, and on signs in the community. Discuss advertising with your child, looking at the strategies the company uses to try to convince the shopper to buy their product.
• Next time your child needs to make a purchase, discuss with them the choices available. Go to the store and check the prices. Teach them to check the quality, be aware of advertising lures, and if applicable, look at any guarantee or warranty offered with the purchase.

WEBSITES:

• http://www.ohea.on.ca/uploads/1/2/6/0/12605917/teach_children_to_be_smart_shoppers.pdf
  Ontario Home Economics Association – Teach Children to be Smart Shoppers
• http://www.sheknows.com/shopping/articles/972111/teaching-kids-to-be-smart-shoppers
  Responsible shopping is an essential life skill
• http://www.education.com/magazine/article/Kids-and-Consumerism/
  Savvy Savings: Teaching Kids About Consumerism
• http://www.ehow.com/info_12159367_teaching-kids-deceptive-advertising.html
  Teaching Kids About Deceptive Advertising