Suze Orman would be Proud Part 2: Refrigerator Postings --Teaching Kids Not to Impulse Buy

Our culture makes it easy to want things now -- credit cards, no down payments on homes. We know where that has gotten us. But, we saw it in our kids, too. Wanting that item they saw on TV or that their best friend just got; asking for things while shopping because the cool packaging caught their eye. So, how do we teach kids not to impulse buy?

Our recipe was simple: A piece of paper, a magnet, and a refrigerator.

If the kids wanted something, they had to write it down on a piece of paper and put the date on it. We then posted the item on the fridge. It stayed there for two weeks. If they still wanted the item at the end of two weeks, they could buy it-- assuming they had enough money. See earlier post "Suze Orman would be Proud: Kids, Money, and Financial Peace."

Our kids rarely ended up buying the items posted.

I don't remember where we learned that trick, but I am grateful for it. It helped the kids and, over the years, it has helped us, too. Nothing like writing down that you want a $15,000 car and posting it on the fridge for two weeks -- only to decide that you really didn't need it or want it that bad after all.