Tell your child that you are going to give them a loan to buy whatever they want up to a certain ceiling amount. It must be for something they don’t need, but want. We want to work with wrong desires and get hem into a little bit of trouble. Be prepared for emotional outbursts and your child showing disappointment when they have to simulate for them later. Stay focused and follow through and remember this is going to be alesson that will prepare them for real life. You are empowering your child by creating this experience for them.
To define this ceiling amount you need to take the following factors into consideration :
- You know what your child likes and this figure must be able to excite them and give them give them enough mooney to buy a reasonable item they ask for
- You basically want them to borrow from you, if they item you suggest is not exciting they will not buy it.
- It could be a toy for a younger child or an ipod or a simple smart phone for an older child.
- It must take into account your own financial state and what you can afford to give as a loan
- You also have to take your child age into account. it is easier to excite the younger ones that than the older
- Most importantly your children must be able to pay you back, via their pocket money, however not too easily. This exercise seeks to put pressure on them