Teaching Teens To Use Coupons: Win/Win
Is your teenager begging you for the latest Jordans, Beats Studio headphones or Samsung Galaxy S III? To many moms these high-ticket items that cost hundreds of dollars seem like an outrageous waste of money. But, in reality these are the types of items most teens want, and many have.
How do you react when your teen asks you for a high-end item?
Are you the parent who says no?
Or, are you the parent who coughs up the dough?
By saying no, or coughing up the dough, you are missing a teachable moment. Next time your teen asks you for an expensive item, why not use it as an opportunity to teach them how to handle money wisely?
Here are some great lessons for your teen:
1. Save, don’t buy on credit
In this scenario, you are the credit, mom! Don’t lend or give your teenager the money to buy the high-ticket item. This only sets them up to rely on credit cards later in life. Instead, help them come up with a strategy to earn the money to pay for the item.
They might mow lawns, babysit or sell unwanted items on ebay. Encourage them to save money they receive for their birthday and Christmas to put towards the item. This process will teach them to accept delayed gratification and they’ll start to understand the correlation between working and getting the things you want.
2. Buy on sale
Teach your teen how to research the best price available for the item they want. This may mean price shopping a few stores or looking online. They might need to wait on a sale at a local store or consider price differences between variations of the same items—for example the same shoes in different colors can have dramatic price differences.
If they are shopping for Jordans show them how to search for Nike coupons to get additional savings. Learning the value of patiently finding coupon codes for Nike will translate into understanding the value of other coupons, sales and promotions. Teach your teen to be a smart consumer.
3. Take care of the item to make it last
Having paid for the item themselves, hopefully your teen will value the item they have purchased and care for it. However, you should talk to them about ways to take care of high-end items so they last longer. For example, a good cell phone case is well worth the investment. It might be worth considering insurance as well. Not wearing expensive sneakers to throw around the football will help them last much longer.
Taking care of your stuff might sound like common sense—but moms know well that these are just the types of lessons many teenagers still need to learn!
4. Resell items
Many high-end items, such as cell phones, sneakers, video games and electronics, have good resale value. If your teen is planning to upgrade, suggest that they sell their old item first. Sites like eBay and craigslist make it very easy for even teens to list and sell their items.
Use caution though in letting your teen meet buyers in person—there are instances where the “buyer” is actually a thief. Teach your teen how to safely sell items online and in person.
So, the next time your teen asks for the latest hot item just say, “Of course, dear.” Then calmly explain to them just how they can go about acquiring that item they want so much.
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