As adults and parents, we all have a better concept of wants and needs. Even we have to be reminded at times though, and it is an important distinction that many children simply do not grasp.

Engage in a simple activity to show your children the difference between a want and need. To your children anything they want enough instantly becomes a need. Ask them if they really need those new shoes, or do they just want them? Ask them to think of others things they might want but don't need. It will be a great start to begin distinctions that might help them save money in the future (see my post on the Two Minute Rule) and a great refresher for you too!

You can use the comment field below to let me know how your conversation goes.