With so many gadgets being released every now and then, there is a pressure to have the latest gadgets especially among today’s generation. Your kids may not say it but they would surely a talk among their friends and classmates if they have the latest iPhone. However, having the latest gadgets also mean additional expenditure and unfortunately not everyone can afford it. There are so many expenses that need to be settled and payments that need to be paid on time. Adding additional expenses is not option. As a practical parent, you can still make your family happy by doing the following tips.
Go for a functioning unit rather than buying the latest
It is understandable that the latest gadget does not come cheap. Instead of buying the latest gadgets, you can still buy a brand new version but the previous releases. Compared to the latest releases, you can actually have the same functionality and features minus the expensive price. You can save a lot when you buy last year’s model.
Let the children understand your financial situation
You don’t have to tell the children that you can afford. You have to tell them that there are so many bills to pay and so many expenses to be settled. Sometimes, being honest about the situation can work wonders. You have to tell them that you need to pay for your food, for the groceries, for the utilities and of course for their school tuition. By the time the children will understand, they’ll have a clear view of the financial statement of the family and surely they will no longer insist in buying the latest gadget.
Encourage the kids to save
Once the children know about the real financial situation, there are times that they would still want to have the latest gadgets. You have to understand them but you also have to challenge them to do their part if they really want to have it. You can encourage them to save money for the device. This is a good way to train them to be responsible about their finances. Of course, they don’t have to shoulder the amount. If they think they have saved enough, they can still buy the latest gadget but with help from their parents who really wants them to be happy.
With these practical tips, your kids still have a way of connecting to their friends by still having their gadgets. Even if they don’t get the latest gadgets as long as they are happy and understands the financial situation, they’ll surely understand. At least, you have a win-win situation for your family. You are able to keep your finances stable and the same time, keep your kids motivated and satisfied.