The toy aisle or gift shop effect

- You walked into the toy store and you looked down the aisle, and you see a child surrounded by his or her parents. The child is really engaged with the toy. Then, the mom or dad turns to the child and says, "Put that back, honey. "It's time to go." And the child immediately cringes, gets really upset, starts to cry. It's an epic tantrum of, "Buy me that!" As parents, we have all been there. This is an opportunity for you, as a parent, to make a great impact on your child. It's a teachable moment to turn them into smart financial decision makers. I'm reminded of the ancient Roman playwright, Terence, who is credited with the proverb, "Moderation in all things." Let me give you a proven strategy to ensure you and your child walk away from that toy store, gift shop, or a candy aisle without a tantrum. In fact, you and your child will walk out hand-in-hand, feeling good about making a smart financial decision. Before you go in, talk to your child. Think about this as a play, even before you walk through that store, maybe while you're still in the car, maybe at home. Talk to your child through the scenario of what you're going to be doing. Tell them, "Honey, we're going to go into the toy store. "It's going to be amazing. "You're going to see all these things that you love, "but you're going to treat it just like we would "if we were going to a museum." Say, "You're going to play, you're going to touch, "and you're not going to take anything home, "but that's okay, because we're going to make a list "for Santa maybe, or take some photos, "or maybe even plan for your birthday party, "maybe something else in the future. "But at that point, we're just going to play, "and we're going to go home." Just think how empowering that will be for your child. Over time, as you work with your child on this, they will soon become your teacher. They're going to tell you, "Mom, that's not a great financial decision." You're going to be able to make those financial decisions and decide when to buy, when to lead, and when to go away with the items in the future. This is the beginning when you combine this exercise when including your kids and setting family financial goals and you participate in a family economy, or setting up an allowance, and modeling how many is a tool. And most important, understanding that money doesn't define you. You're going to be setting up your child for future financial success.