What To Do With All That Cash

Did your kids receive gifts of cash for Christmas? If they haven’t already spent it, they may be trying to figure out how to extinguish that fire burning in their pockets.

Kids love the freedom, independence, and power that comes from spending their own money on items they’ve hand selected. These experiences are great, teaching kids to make decisions, manage money, and live with the joys or consequences of their choices.

However, before heading to the store, have a conversation with your child about his thoughts on where the money should go. I recommend giving kids three separate piggy banks: a spending bank, a savings bank, and an offering bank. Allowance money should typically be divided between the three banks (I let the child decide how to split the amount between the banks, but that is a topic for another post). You and your child can decide if gift money, or other special occasion money, also needs to be divided or if it can just be spent on something fun.

Discuss what type of purchase your child has in mind. If she has been saving for a particular toy, her Christmas money might allow her to make that purchase. Perhaps she received a large sum, but just wants a few inexpensive things, like a Littlest PetShop figure or a Zooble. In that case, talk to her about taking a little money to the store and saving the rest for the next time she’d like a new toy. If your child has no idea what she wants, ask if she would like to start by looking at toys, clothes, books, etc. so you have an idea of where to start shopping and she can start making a mental plan. Wandering around Target looking for something to buy is not usually the best plan. When kids do this, they tend to make impulse purchases they later regret. I am in favor of doing this with a little bit of money because it teaches kids to be more thoughtful in their purchases, but protect them from the huge disappointment of wasting ALL of their gift money on an unwise choice.

Also, let your kids know that you always have the final say on a purchase. It does not matter that it is the child’s money, as the parent you do not have to let inappropriate clothes, music, video games, toys, or anything else into your house. Don’t censor a child’s purchase because you think it is silly or unrealistic (although you should gently ask questions about such items to help your child evaluate the true value of the item), but do stand by your morals and let your kids know when items cross the line.

By taking the time to discuss your child’s shopping goals before heading to the store, you are likely to have more fun and your child will have a better money management experience.

Pick Your Battles

Last time we talked about giving kids choices. Sometimes we can get overwhelmed by the volume of choices we make in a day and it can be hard to decide which to hand over to our kids, which to make ourselves, and when to hold firm to our decisions when our kids want something different. We call this “picking our battles” because it just isn’t practical, fun, or relationship-building to argue over everything.

If we question everything our children do we will be in constant conflict. We want our kids to develop the ability to think, to assess situations, and to make appropriate decisions based on those assessments. This takes lots and lots of practice, trial and error, and the experience of making mistakes and learning from them. Let your children fail so they can learn from those encounters. It is one of the hardest things for parents to do, and it is one of the most educational for kids.

Take a few minutes to think about your values and your vision for your family. What is truly important to you? When your children are grown and they leave your home, what character traits do you want firmly planted in them? These will help you pick your battles. If your child makes a decision that conflicts with one of your core values, you will definitely want to address it. If he makes a choice that you don’t care for but it doesn’t impact his values, you can often let his choice stand.

Smarter parents give their children the opportunity to make smart choices, then pick their battles, focusing on the issues related to their values.

Do you feel like you can evaluate situations well in order to pick your battles wisely?

Learn more about picking your battles in a Smarter Parenting teleclass. Go to www.MotheringLikeTheFather.com today to get details and register.

Give Choices You Can Live With

Learning how to make decisions for yourself is part of growing up. Likewise, learning to let kids make their own choices is part of growing as a parent. It is important to start letting kids make their own choices, with limits, as early as possible because this is an area where kids and parents both need a lot of practice.

When letting your children make choices, give them two or three selections to pick from. Keep the offer simple with similar options. “Would you like to wear the pink shirt or the blue shirt with your jeans?” “Would you like to bring crackers, oranges, or carrots to snack on at the park?”

Make sure you can actually see the choices you are offering. This prevents problems like giving the pink shirt as a selection when it is in the laundry, or presenting oranges as a snack option because you don’t know your husband ate the last one at breakfast.

If your child takes a long time making a selection, give her a time limit. Say, “I am going to count to five and then you need to decide or I will pick one for you.” If you end up picking and she gets upset, remind her that she had an opportunity to choose and didn’t take it.

Your child may also have a different option in mind, like, “Can’t I wear the yellow shirt?” If you approve of the selection, allow it. If not, or if it is not available, simply say, “That is not a choice today.” Explain your reason for saying no if you can, but keep it short and to the point. Don’t get drawn into a debate.

Eventually, your child will grow to the point of deciding things for herself without your input. You will wake up one morning to find your child dressed and playing happily in her room. When this happens, give positive comments about her independence and praise her selection if you can. If she has not done a good job getting dressed, simply say something cheerful to acknowledge the effort, such as, “Hey, you got yourself ready!”

Do not criticize her selection, and do not undo it unless absolutely necessary. You don’t want to give your children the message that they are not capable of making good choices. As kids get older, they need to know they can be trusted to make good decisions all on their own.

When your child makes a good choice, praise it. When he makes a poor decision, think purposefully about the situation and decide whether it truly needs to be addressed or not.  If it does require some attention, simply say, “Please make a better choice.” Offer guidance on how to make a different decision, but don’t make it for your child—encourage him to try again.

Remember that our relationships with our children and their growing confidence in their ability to make choices are important – usually more important than what the child chooses.

When do you struggle to let your kids make their own choices?

For more on teaching kids to make good choices, join a Smarter Parenting teleclass. Go to www.MotheringLikeTheFather.com and click on Parent Coaching for more details.