It may be difficult for some kids to save for the future when there is so much “stuff” that they are convinced they must have today.
This is not surprising when you consider the billions of dollars that are spent on youth marketing and just how sophisticated the psychology and neuroscience is.
Kids are being marketed to over the Internet, through cell phones, iPods and video games. There is product placement and brand marketing in schools as well as stealth marketing and viral marketing.
As parents perhaps we are not able to prevent our young ones from being exposed to this bombardment of marketing, but what we can do is to help our kids through the choices that they have.
Take the opportunities to explain the difference between wants and needs. That’s a start….but only a start because needs can be subjective.
Help your child through their purchasing decisions by getting down to the “why” they think they need that particular thing. As you help your child think through their purchase, you are helping them to make better choices and better decision.
This is a great skill to learn…a skill that someday may lead to them saving for the future.