You can start teaching your child to make choices at as early as 3, In the story below jane was 8 and he sister 4. See how thee parents gave them input and taught them to make choices
It was time to plan the summer vacation at Jane’s house. It was a family tradition to do it together. The family typically took a one-week summer vacation as well as went with a large group to the local mountains on weekends twice a year. Jane and her younger sister both really wanted to go to Disney World. The family talked about the cost of traveling 1,000 miles and the admission costs for Disney World compared to the typical summer vacation at a beach 50 miles away or a trip to an area within a day’s drive. After looking at the cost of the Disney World trip compared with the previous year’s trip, everyone realized Disney World was almost twice as expensive. The parents said that if the kids really wanted Disney World, they could do it, but it would mean giving up the two weekend trips entirely. Both kids quickly decided they would find another summer vacation because they did not want to miss out on seeing their friends who they could only see on the weekend trips.
Our books Raising Financially Independent Children and Financially Independent Teens both discuss how to tach children about budgeting and making choices.
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