Kids and parents often have differing views when it comes to what’s most important on the back-to-school shopping list. A survey by FatWallet.com confirmed this when they asked parents what topped their back-to-school list and what they “think” their kids want. Not surprisingly, school supplies ranked highly on Mom and Dad’s list while they fell to last place on their kids list.
It doesn’t surprise me to see such disparity and I don’t think that’s a bad thing. In fact, it’s probably quite normal. Kids often have different priorities than Mom and Dad do! Of course, this leads to store aisle arguments where no one wins. The good news? This can also be easily avoided by letting your kids manage their budget. And don’t worry — I’m not suggesting that you let them buy whatever they want. 🙂 Instead, work with them to meld their “wants” with their “needs”.
Lauren and Taylor have been doing this for years, and it has turned them into smart consumers who know how to maximize their budget and stretch a dollar. Additionally, it’s really helped them identify when the influence of others is affecting their choices and how playing “keep up” really doesn’t pay off in the end. I love all the lessons they have learned, and I strongly encourage you to let your kids manage their back-to-school budget this year.
One important tidbit is that most parents found the back-to-school sales on laptops and tablets to be better than Black Friday or Cyber Monday sales. So if you or your kids are in the market for one, now may be the best time to purchase one. And, of course, if you live in one of the states that offer a sales-tax holiday on back-to-school supplies, you want to couple that advantage with a good sales price!
What is the top priority on back-to-school shopping list? What do you think tops your kid’s list? Do you let them manage their back-to-school budget?
Shannon
SHANNON RYAN, CFP®
Oh my goodness, I remember the battles with my girls when shopping for back to school items. While I was trying to budget to buy for four kids, they were picking high-end items that they "just had to have". :)
Now the shoe is on the other foot. I have one daughter who has two boys, one who is three years old and insists his clothes are all marvel comics, is now going through the same thing and I have another daughter who is now buying her own clothes and suddenly finds it okay to buy a nice top a Target. LOL
The good news is, they were listening to my advice and now they are careful when it comes to their spending habits.
Passing your post along to share with others! Have a great day Shannon. Hope all is well :).
Cori