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How to combat pester power
It’s one of the most common challenges parents face when it comes to kids and cash – but it’s also a great opportunity to teach a valuable money lesson
Every parent has been on the receiving end of pester power. You might think you’re over the worst of it when your child stops throwing supermarket tantrums just because you say no to sweets or stickers, only to discover that this simply evolves into an ongoing campaign for their first phone, the latest football shirt, or an expensive pair of trainers.
Kids have plenty of tricks up their sleeves when it comes to getting what they want, and every parent wants to do the best for them. But the rising cost of living means that many parents find themselves saying ‘no’ more often than they used to.
Learning the value of money
Tempting as it is to give in, pester power doesn’t help kids to learn about the value of money. In fact, it does exactly the opposite, as many of those longed-for purchases end up broken, lost or ignored.
So it’s a much better idea to give your child regular pocket money – even if it’s just a small amount. That way they can decide for themselves how to spend it, and they’ll soon discover that once it’s gone, it’s gone.
The power of delayed gratification
When you empower your child to make their own spending decisions, the things they usually pester you to buy may begin to lose their appeal. If they have to pay with their own money, they might even decide to save up for something special. After all, it’s hard to beat the sense of satisfaction that comes from saving up and buying something you really want.
You could even help them along the way by paying them a little extra for helping out around the house – it’s a great way for them to start making the connection between work and money, and realising that money doesn’t grow on trees.
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