Last month I was standing in the checkout line at Cracker Barrel when a young girl came up to speak to the woman in front of me. The young girl told the woman not to buy the item for her because it was too expensive.
I turned around and told the girl that not many kids look at the price of items, never mind saying that the item was too expensive to purchase. The young girl then told me that she's like her mom, and she uses coupons. I told her that is what I call being frugal. She smiled.
Our financial actions as parents can mold how our kids relate to money in their future.
Research from Charles Schwab & Co shows that only 34 percent of parents teach their kids basic money skills like balancing a checkbook and only 29 percent teach them how credit card fees and interest rates work.
Here are a couple of steps to help you raise a financially responsible child:
1. Don't hide the truth. It is important for children to know the truth about your financial situation even if you are having troubles. Answer their questions about money honestly. Don't assume that your child will learn about debt or finances in school.
2. Teach them not to purchase items if they don't have the money for them. What a concept! Don't let them see you using your credit card for things you don't need. When they ask for something and you can't afford it, explain the situation. Giving in will not teach them anything.
3. Differentiate between want and need. Kids sometime don't understand the difference. With young kids, explaining what they need like food, shelter, school supplies will help when you say no to something they don't need. Today's society seems to be one in which what you own, like the newest smartphone or coolest clothes, mean a lot. So helping your kids understand the value of an item will make them more appreciative.
4. Make them work. I always believed if my children wanted something that I wasn't going to buy for them, they could do yard work or other odd jobs. Your child will learn a great deal earning the items they want instead of being handed them.
5. Give them your time. Teach your children that money is not the center of your family. Spend time with your family by having a game night, movie night, outdoor park night that costs very little. If you focus on money they will. Remember family time is free and rewarding.
■ To celebrate international Talk Like A Pirate Day on Sept. 19, participating Krispy Kreme doughnut stores will give a free original glazed doughnut to anyone who talks like a pirate. Those who wear full pirate attire get a free dozen original glazed doughnuts.
■ Receive a free Muller Yogurt at Kroger by uploading a digital coupon on Sept. 12 only. This coupon does not expire until Sept. 26.
■ Lays is offering the chance to get a free Stax Crisps product. During the Thursday night NFL game, Lays will add a fire drill alert to its Facebook page 15 minutes after the first scoring play (touchdown, field goal or safety). The first 1,000 Facebook fans to visit the fire drill can sign up to receive a coupon good for a free Lay's Stax Crisps product. This offer will continue each week through Dec. 18.
■ For a limited time you can get a free e-movie cash ticket (up to $10) to see a movie at your local theater or receive a credit to watch a movie at home when you purchase two Freschetta pizzas or three Red Baron multi-serve pizzas. Products must be purchased on the same receipt. To claim your freebie, submit a photograph of your receipt. Limit four submissions per customer. Offer ends Sept. 30. http://bit.ly/1w8Pl7I
■ Get a $5 prepaid card to buy a small bag of Cascade Action Pacs. Product must be purchased before Dec. 31. Rebate must be postmarked by Jan. 15, 2015. http://bit.ly/1qAMwsL
■ Get free admissions to participating Smithsonian Museums on Sept. 27. Print out tickets online at http://bit.ly/1kSIPht.
■ Thru Oct. 31, get a $50 Citibank gift card when you buy a Pantene Product at Walmart and donate at least 8 inches of hair. Print the donation form and instructions and place your hair in a zipper-lock bag and mail it, along with the correct forms and receipts. http://bit.ly/WjVDlI
■ Thru Oct. 7, join the Silk Almondmilk Give 5 Challenge and send your friends free Silk Almondmilk. Connect with your Facebook account and you will then be able to select up to five friends to send a coupon for a free half-gallon of Silk Almondmilk (up to a $3.99 value). Your friends will receive a message in their Facebook account and will need to click the link and fill out the form to receive their coupon via mail. https://silk.com/give-5