Advertising sells image. You want your children to buy quality.

This is a difficult lesson to teach, especially during the holidays when deft advertising is targeted at kids. To succeed, you’ve got to make buying quality a year-round project.

“We have to teach our children comparison shopping – not convenience shopping,” says Karen Waldron, Ph.D., author of Unleashing Kids’ Potential: What Parents, Grandparents, and Teachers Need to Know.

“Work with your children online to find the best quality at the best price. Once they understand comparison shopping, they have an idea what an item should cost.”

There are many Web sites that enable you to compare features and prices. Show your kids how to use them and then circle back to the prices at a bricks-and-mortar store. Introduce your child to Consumer Reports at the library and draw a distinction between product reviews in commercial magazines supported by advertising. Make the point that Consumer Reports isn’t the Oracle of Delphi, but it’s an excellent place to start when researching a major purchase.

Gradually introduce your child to market segmentation and price differentials. Saks (SKS) and Nordstrom (JWN) have spiffy stuff, but why pay a premium for socks and other basics when you can save a bundle at Sears (SHLD) or L.L. Bean? Introduce your child to discounters and mass merchandisers such as Staples (SPLS), Target (TGT) and Costco Wholesale (COST).

Use gasoline prices as a good way to introduce your children to comparison shopping. The logos of the major oil companies are distinctive and gas stations routinely post the price per gallon for the various grades. Shop for the best price and ask your kids to help you keep an eye out for bargains. If the kids get a kick out of it, urge them keep a log and refer to it when you plan to fill up. There’s no need to drive across town to save a nickel per gallon, but let your kids know they can save money on a commodity product like gasoline simply by keeping an eye on price fluctuations.

The lesson: Make the oil companies earn your business by offering good prices and convenience. Then extend the drill into other areas – paper for the printer at home, food staples or jeans. Before you know it, your kids will be comparing prices at the supermarket.

Make a point of saying, “We saved $10 today!” Most of the savings remains in the family budget, but set aside a little for special events, especially with young children, to establish the link between saving on routine expenditures and having money to do fun things.

Draw a distinction between popularity and quality. This is a point many kids miss, especially if “everybody” has this or that gizmo or shirt. It’s also a point that some adults refuse to learn.

If your child wants to buy an expensive brand name item, underscore the price and make it clear that purchasing it means less money for other things. Let your child decide – and stick by the decision. The lesson is lost if you cave to pleas of “Mom!”

Don’t increase your child’s allowance during the holidays because this undercuts your efforts to teach the value of money. Never make a loan because that negates your efforts to get your child to budget and set priorities. But if there’s extra work around the house that needs to be completed before the holidays, discuss this with your child, come up with performance standards, a deadline and a good price.

Then encourage your child to spend the extra money wisely. Be sure to set the usual percentage aside in savings and for charity.

“Look for sales and teach kids how to avoid being slaves to labels,” says Waldron, a professor emeritus of education at Trinity University in San Antonio.

There’s little time for pedagogy during the holiday crush, so make teaching your kid about quality a year-round effort. A lesson learned will set your child apart from most of his peers, especially during the holidays when many people just grab things off the shelf.


Check out our collection of the very best in parent-friendly personal finance, Shopping With a Purpose, for more ideas and information on helping your children learn and grow through finance this holiday season and beyond!