• 4 Pocket Allowance

Learning to Comparison Shop

Updated: Aug 4, 2019

I have officially reached the age, that I often begin sentences with “When I was a kid….”. It’s funny how we have a tendency to romanticize our past. We look at kids glued to electronics and point out how they don’t run around the neighborhood playing like we used to.

I don’t have all the answers to some of these conundrums, but I am a firm believer in there always being a silver lining. Comparison shopping is definitely one of those silver linings.

Case in point. Last winter, we were fortunate enough to take our kids to Hawaii. As with all our vacations, they are responsible for saving up their spending money. At the airport on the way home, the youngest saw a ukulele that he had to have. “Mom….it’s only $125….that’s a really good price! And a great souvenir since we learned all about ukulele’s during our stay.”

I asked a few prompting questions about why he thought that was a fair price. It also bought me a little time to get us out of the store. But he was relentless about “needing” that ukulele.

He had the money, so I wasn’t going to say no, but $125 is a significant purchase, and wanted him to learn to take his time with such purchases. We took advantage of the free wi-fi at the airport, and I challenged my son to login and do some searches about going rates for ukuleles.

As I suspected, he found the going rate was about 1/3 the price, and many were much nicer looking, and included a case and some other perks.

Our kids have so much information at their fingertips. Yes, mine largely use it on less-than-educational endeavors – but that evening, my son started to learn the importance of comparison shopping, and I didn’t have to drive him around from store to store to do it – a win for both of us!

Learning to comparison shop, Ideas for parents about allowances and teaching kids about money and financial literacy, #4PocketAllowance

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