An interesting dilemma for parents, especially during the holiday season is - How do you teach your kids the difference between wants and needs? To me, need is something important, maybe something you cannot do without, and want is a bigger set of everything you would like to have. It would be a good idea to start by teaching the kids the value of things - that we need money to buy something, and that money comes from working hard. So, it should be used wisely. I believe its a good idea to mention the budget and discuss about money. Then I would ask the kids to prioritize their 'wants' in a list with guidelines like: "If you could have just 2 things what would they be? Write that first". And if the items are more expensive than I'd like, I would try - "If you could get both B and C instead of A what would you pick?". While going through the list I would also ask questions like "Do you really need another of that (when you have an older version), or do you just want one?" And lastly, I would make sure he participated in a toy drive for the needy and explain that this is for kids who don't have what he does, and he needs to keep that in mind while asking for something.
Note: After going through the process of writing this blog I realize I will have to update my list to follow these rules...
Topic inspired by: http://www.socialmoms.net/forum/topic/listForTag?tag=writing+prompt
