Well folks-the “official” holiday shopping mania has begun! Those penny saver adds have been posted for weeks. TV commercials posing  ”sales of all sales” have been non-stop. News sources report that hoards have “patiently” waited for those doors to open since the wee hours. Black Friday is officially here.

Don’t get me wrong, I love sales and a good buy. My concern is that all the hype about buy-buy-buy has hit our kids for months. And you and I know these next few weeks as the countdown to the holidays continues, the advertising blitz will only go into high-octane mode. Research all shows that media impacts our children’s money attitudes and increases materialism. So what better time than today to talk to your kids and teens about money than today? Here are a few ideas to help you have that critical money talk with your kids.  All the best on your shopping. I’ve decided to stay home — it was much too stressful last year. 

Reader note: This blog is part three of a sneak peek series on my BIG BOOK OF PARENTING: 101 ANSWERS TO YOUR EVERYDAY CHALLENGES AND WILDEST WORRIES written by Sue Scheff, Examiner reporter, parent advocate and author of Google Bomb and Wits End: Advice and Resources for Saving Your Out-Of-Control Teen (both books I highly recommend). I wrote the book as a complete resource for raising kids 3 to 13 years of age. My goal was to create a one-stop parenting reference with dozens of research-based solutions on the 101 top parenting challenges. Here is Sue’s review that was published in the Examiner. Thanks Sue!

Sneak Peek Series: Sue Scheff Excerpt from Big BOOK of Parenting Solutions

 Part 6 of my sneak peek series inside Dr. Michele  Borba’s latest book,BigBOOK of Parenting Solutions,  brings  up a topic that is not only timely with today’s difficult  economy, it is critical parents understand the importance of  how to talk to your kids about money and finances. Here  is an excerpt from her book:

 ”Are you talking to your kids about money? If not, you’d  better!” -Michele Borba

Approximately fifteen hundred high school seniors were asked basic facts about personal finance, and the great majority were stumped by those questions: 95 percent scored below a C.  So it should be no surprise that another survey found that 80 percent of all college freshman admitted to never having a conversation with their parents about managing their money.  What’s more, almost one in four of these teens say it’s just fine to blow as much as $500 without checking in with Mom and Pop.  If you’re concerned about your kids’ future spending habits,  than start the “money talk” now.  Let them know that money doesn’t come easy and that you do have clear expectations and limits about their spending (and then tell them what they are).

THE SOLUTION

Step 1. Early Intervention

•  Identify your parenting style.  Here is a quick quiz to see how you doing to help your kids learn about money management.  Check the statements that describe your typical family: (page 553-554 will offer you descriptions you can review).
•  Be a good role model. Kids always look to us as the example to copy. (continued on page 554)
•  Monitor TV Consumption.  Television is the one of the biggest culprits in fueling kids’ spending urges, and commercials are relentless in trying to get kids to buy, buy, buy. (continued on page 554)
•  Explain how money works.  Start money lessons when your kids are young. (continued on page 554)
•  Use real-life examples.  Take your child to work.  Show your daughter how you balance your checkbook.  (continued on page 554)

Step 2.  Rapid Response (read pages 555-556 for this wise advice if your child or teen needs a instant intervention)

Step 3.  Develop Habits for Change (read pages 557-558 and start raising a money-smart child)

ONE SIMPLE SOLUTION (There are dozens of simple solutions placed in boxes throughout the book. Here is one that is perfect for the upcoming holidays to help your child control those spending urges). 

Cut Impulsive Shopping by Teaching Kids to “Think Before Spending”

Set a household rule that your child must write down any pricier intended purchase and postpone buying it for at least twenty-four hours.  A younger kid can draw it  on her “wish list”. The wait time could vary from an hour or day to a week or month depending on the child’s age and maturity.  If she loses interest before the time is up, even she will agree that she didn’t really want that item after all.

WHAT TO EXPECT BY STAGES AND AGES

 Preschooler (page 558)

 School Age (page 558)

Tween (page 558)

Next sneak peek: Could your child have Oppositional Defiant Disorder (ODD)? – page 78

For those that don’t have time to read, this is the perfect book for you since it is not the type of book you sit down to read. As parenting questions come up, you can go straight to the index and find the page number. Immediately you will see the pages divided by boxes, quick tips and advice and easy to read and understand resources. Did I mention she also gives you proven research and statistics?

Order The BIG BOOK of Parenting Solutions today! Whether it is for yourself or as a gift, you won’t be disappointed.

Previous sneak peeks: (1) Gratitude Recipes: Big Book of Parenting Solutions, (2) Parenting 101: Ungrateful teens and children (3) Seven Deadly Parenting Styles, (4) Sex Talk with your Children, (5)Gifted children, (6) Money and your kids, (7) Oppositional Defiant Disorder, (8) Sibling Rivalry, (9)Overweight teens and kids, (10) Lying