Give Your Child Money Sense...habit of being achievers, under-/over-achievers Group oriented –...

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© The MoneySENSE-Singapore Polytechnic Institute For Financial Literacy

Give Your Child Money Sense

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Understanding Money Understanding Yourself, Your Rights

and Responsibilities

Managing Money to Live Within

Your Means Planning Ahead

Selecting Financial Products

DEVELOP YOUR CORE FINANCIAL CAPABILITIES

START YOUR FINANCIAL PLANNING

Step 1: Identify your short-term and long-term

needs / goals

Step 2: Know what income or savings you have

to meet these needs / goals

Step 3: Manage your income or savings to help

you manage your daily expenses, as well

as to reach your goals

MEET YOUR FINANCIAL GOALS Manage your cash flow

Buy a home within

your means

Provide for your life insurance and

healthcare needs

Have sufficient

income for life

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Content

Objectives of this Workshop ............................................................................... 4

Part A – Why? ...................................................................................................... 5

Activity 1 .............................................................................................................. 6

Part B – Who? ..................................................................................................... 7

Activity 2 .............................................................................................................. 8

Part C – What ...................................................................................................... 9

Part D – When ................................................................................................... 10

Activity 3 ............................................................................................................ 12

Part E - How? ..................................................................................................... 13

Activity 4 ............................................................................................................ 15

Money Management Concepts ......................................................................... 16

Part F – Where .................................................................................................. 22

Activity 5 ............................................................................................................ 22

Appendix A: FAQs .............................................................................................. 23

Appendix B: Teachable Moments and Money Sense Lessons .......................... 24

Appendix C: Tips to Successful Financial Education ......................................... 26

Your Personal Notes .......................................................................................... 27

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Objectives of this Workshop

1. To help parents kick-start their child’s financial education, as key influencers/educators

2. To equip parents with simple, practical, effective, age-appropriate

strategies to kick-start the education

Learning Outcome

A Why The need and significance of children’s financial education

B Who Parents – in the best position

C What What is Financial Education?

D When Teachable moments

Age-wise, developmentally appropriate money sense

E How Simple, hands-on strategies for parents to kick-start their child’s financial education

1. Piggy bank

2. Pocket money

F Where Place where financial education should take place

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Part A – Why?

The need and significance of children’s financial education

I. Children, today, see money very differently than their parents did as

children.

1. Money as an abstract concept

a. Credit/Debit cards

b. E commerce- earning, shopping, banking, investing

2. Easy Access

a. Money

b. Information/ Media

c. Loan

3. Access and convenience of shopping

II. Choice

4. Wide Choice

a. Lots of options/ opportunities

III. Influence of Media

5. Media Frenzy

a. Young people view more than 40 000 ads per year on television alone

b. Kids are getting older younger – KGOY – a new marketing term to

describe the influence of youngest children these days on family’s

purchasing decisions and their brand knowledge.

IV. Social and Economic Issues

6. Peer pressure, guilt, stress

7. Affluence

“Kids are spending more & more money but understanding less and less about making

good financial decisions. The outsized appetites created by aggressive marketing

during childhood and adolescence quickly sink kids into deep financial trouble when

they start living on their own”. – David Walsh, author – NO! Why children of all ages

need to hear it and ways parents can say it!

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The ability to make right financial choices is an important life skill. It is the key to

identifying and making best of the myriad opportunities that the new world has to offer.

Financial Education is Financial Self-defence!

Activity 1 Journaling questionnaire Child’s money and media

habits

This is for your own understanding of your child’s current money habits. It will help

you get the best out of this program. Please tick/ circle your answer for the following;

1. Child’s age (in years): 3-6 6-9 9-12 12-16

2. Has your child handled money on her own? (age appropriate definition on

slide)

Yes No

3. Does your child ask questions (direct/ indirect) about money, brands or

advertising?

Yes No

4. Do you see your child demanding material things

All the time Regularly Once in a while Rarely

5. How easy is it for you to say No to your child’s material demands?

Easy Difficult Impossible Embarrassing Guilty

6. How do you find talking to your child about money?

Simple Complicated Confusing Intimidating Unnecessary Tough

7. Do you consider yourself/your spouse as a good role model with money for

your child?

Yes No Can’t Say

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8. If your child is below 9 years, does your child have/had a piggy bank?

Yes No

9. Does your child get a pocket money/ allowance, especially if he/she is over 9

years?

Yes No

10. On an average how many hours does your child access social media or watch

TV daily?

<1 1-2 2-3 3-4 >4 Not sure

Part B – Who?

Parents are children’s best financial educator

3 key sources of Financial Education

1. Educational Resources

Governments and Educators world over have taken this initiative to build

resources for financial education for children.

Financial Educational resources are available online

2. Training and Practice

Schools around the world (supported by Governments) provide training in

different aspects of financial literacy.

MoneySense, Singapore’s own Financial Literacy initiative promotes and

helps schools towards this effort.

3. Influencers

Surrounding people

o Family

o Teachers

o Peers

Media

Government and schools are doing there bit towards giving children financial

education. They can at best impart knowledge and to extent skills. However, the

other key aspect which determines the decisions one makes – the attitude, can only

be imparted by someone in a strong position to influence – Parents.

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Parents as child’s best financial educator

1. As a role-model – of the values and skills you wish to see in your child

2. As a moderator – of resources and influencers

3. As an initiator – of skills training and practice

4. As a mentor

Activity 2 Financial Education Parents’ Viewpoint

List 3 financial lessons/ abilities/ values you think are key to thrive in current times

What can you do to help your child acquire them?

List 3 financial vices you think are key concerns in current times

What can you do to discourage your child from acquiring them?

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Part C – What

What is Financial Education?

Education is the process of facilitating learning, or the acquisition of knowledge,

skills, values, beliefs, and habits.

Financial Education is the process of facilitating learning or the acquisition of;

basic knowledge about, the concept of money, its role in our lives, how it works

and the terms or processes associated with money.

money management skills,

healthy financial values, beliefs, and habits

that would eventually lead to Financial Freedom!

Financial Freedom in the simplest terms refers to a state where one does not need

to work for money to lead a decent life.

Financial freedom is achieved, not through fat pay checks or secure careers, but

through proper financial habits and planning.

FINANCIAL EDUCATION IS AN IMPORTANT LIFE SKILL

FINANCIAL EDUCATION EMPOWERS CHOICE, HELPS WISE DECISIONS

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Part D – When

When are the teachable moments in a child’s financial education journey?

Financial Education Strategy

ASK – attitude, skills and knowledge

Age wise – developmentally appropriate money sense

Age group Developmental stages* Teachable moments

3- 6 years

Exploratory age/ questioning age

Absorbent mind

Desire to make choices for themselves

Developing personalities

Demand independence

Parents call this a ‘problem age’ due to demanding nature of the child, and as ‘toy age’ as toy play is at its peak now

Enjoys repetition

Can do basic counting

Understand and differentiate between needs and wants.

Making choices

Counting coins and notes

Piggy bank deposit discipline – a coin a week

Accepting and Coping with a NO

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6- 9 years

Gang age &

Creative age

Reasoning mind

Age of conformity (peer influence)

Critical period in achievement drive

- a time when children form the habit of being achievers, under-/over-achievers

Group oriented – like to work together.

Parents call this a sloppy age

- Rather careless about their material possessions

More time spent at school.

Growing fundamental skills of reading, writing and calculating

Learning to delay gratification

Money basics – what is money, various forms of money, where money comes from, paying bills

Identifying and categorising coins/ notes by their denominations

Piggy bank deposit discipline – a coin a week

Making change

Spending and Saving

How savings grow?

Currencies

Responsibility – taking care of your belongings

9-12 years

Gang age &

Creative age

Reasoning mind

Developmentally, As above

Money wise, a key phase of transition

- Demonstrating financial values, habits learnt earlier

- Understanding financial responsibility

- Pocket money routine begins

All the above

Understand work –pay connection

Interest, dividends, profits

Budgeting

Smart Shopping

Banks and savings

Record keeping

Empathy

Enterprise

13-18 years

Transitional stage (between childhood and adulthood)

Increase peer-group influence

Development of conscience

Abstract thinking

All the above

Goal setting

Investments

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Entrepreneurship

Credit card

Loan and repayment

* Developmental Psychology (Hurlock) & Montessori Approach

Activity 3 Key elements of your child’s financial education

To be filled in by the parents.

A

S

K

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Part E - How?

Hands on – real money sense

1. Piggy Bank as a Prep-tool

a. Recommended for children under 9 years

2. The Pocket Money Routine

a. Recommended for primary school children and above

Before starting – 3 important rules for Parents

1. Both parents agree on the need to give money sense to the child.

2. Both parents will be mindful to give consistent and not conflicting messages.

3. Parents will practice what they want to teach their child. As a role model.

1. Piggy bank as an effective preparatory tool for financial education

(Recommended for children 3-9 years) It will serve as a simple yet effective preparatory tool for financial education of

younger children.

When to start

Where to start

How can it be

used as a prep

tool

When a child enters preschool (age 3)

Gift your child a piggy bank and show how to put a

coin in it.

Explain how, when you put the coin in, the piggy

keeps it safe ti l l when you need it later.

Teaching simple money concepts and ski l ls –

1. What is money?

2. Recognizing money – currencies & denominations

3. Saving = collecting

4. Saving discipl ine / habit

5. Using money - Sharing / giving, Spending

6. Delayed grat if ication

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What is Money? Children these days, don’t often get to see physical monetary transactions. Piggy

bank allows them to see and handle money. Can be given whenever you have

change to very young children, and at a regular interval to school going children (5+)

1. Recognizing money – currencies & denominations As children start putting coins in their piggy, they may sooner or later show interest in differences – size, shape, texture, number on the coin, picture, language (if you give coin from another currency from your travel).

This is a good cue to have a basic money talk;

Money as a medium of exchange and store of value

2. Saving = Collecting At a young age (under 6), children will gain a simplistic understanding of saving

as collecting coins in the piggy. Then gradually, the real essence of saving can

be taught as money;

Collected

Set aside for future use

Accumulates if saved regularly

3. Saving Discipline

The act of ‘depositing’ a coin regularly (every week or every day) in the piggy

bank will introduce and develop in children the very important financial habit –

saving discipline. This is an amazing way to illustrate the concept of saving and

bring in the discipline even in really young children. Besides, you could show the

power of saving everyday by showing how much the child has collected over a

month. This would encourage the child to stay committed.

4. Using money – sharing/giving, spending Over a period of time, (on special day – child’s birthday), get your child to open up

the piggy bank and take stock of the saving.

This is a good time to let children use ‘their’ saving.

Suggest that it will be great if your child shares/ gives a part of her saving (buy a

gift for grandma, buy a treat for best friend or even better share it with someone in

need). Inspire, don’t force.

Good way to introduce:

1. Dollars & Cents

2. Heads & Tails

3. Special coins /

commemorative

4. Foreign exchange

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Allow your child to get something that she’s been asking for herself from her

saving.

Reinforce the power of saving

5. The very powerful lesson of delaying gratification! Delayed Gratification is a key life skill (The Marshmallow Experiment - Stanford

Research)

Delayed Gratification is the ability to resist temptation of a smaller, immediate

reward and wait for a larger or more enduring reward.

Piggy Bank can be a starting tool to teach children this important skill.

Saving a coin in piggy every week for later use is more rewarding than using a

coin now!

6. Other related, teachable skills

Counting coins

Converting coins in notes and vice versa Making change

Activity 4 The pocket money discussion

Pocket money as an effective financial education tool

(Recommended for child who starts formal education)

What is important?

How much?

How often?

Chore-linked? Or Allowance?

Parents role?

Child’s responsibility?

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Pocket money routine will serve as a lab setting for children to learn about

budgeting, earning, spending, saving and investing wisely, while building on all the

values learnt in earlier stages.

When to start

Where to start

A good age to start a pocket money routine is when

the child begins formal education . By this age the

fundamental ski l ls are well established and a

reasoning mind is developing.

Start by –

- giving a f ixed pocket money. Older children/

teens may earn additionally through a vacation

job or part-t ime work,

- Recording and accounting can be introduced

- Sparing 15 minutes in a week and be patient

- 5-step pocket money routine.

Parent and child would play an equal role in the

beginning. Once ready and routine is set, chi ldren/

teenagers can take over the routine responsibil ity

with parents being available for a review as and whe n

required.

Money Management Concepts Concepts Basic Advanced

Income Allowance

Gift

Earning

Work- Pay

Entrepreneurship

Borrowing/ Loan

Saving Saving discipline

Saving first

Banks

Bank Accounts

Interest

Goal Setting

Spending Needs/ Wants

Ads/ Packaging

Smart Shopping

Prices

Discounts

Cash/Debit cards

Credit cards

Sharing Gift

Donations

Volunteer Cause

Raise Funds

Budgets

Accounts

Supply and Demand

Goods and Services

Inflation

Cost of Living

Tax

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5-Step Pocket Money routine

1. Allowance/ Income

Giving children real money to manage is the first step in helping them pick up financial competence/ skills. Their income could be in the form of a regular allowance, their micro-profits from their enterprise or their earnings from a simple vacation job/internship or a combination of all the above.

Besides real money to manage, they would need real experience in spending & saving and guidance from patient adults. This involves letting them learn from their spending mistakes, involving them in value buying, explaining how you run your household budget and answering their money related queries/ doubts.

Allowance Essentials:

1. Fix an allowance payday. It would be simpler to start with a weekly allowance.

2. The amount will depend on the age and needs of the child and so also on the

responsibilities linked with the allowance.

3. It is wise not to link the allowance to good behaviour or homework completion

or even to rude or irresponsible behaviour. It is better to keep disciplining

separate from the money management lessons.

4. Allowance may or may not be linked to child’s contribution in household duties

or chores. There is no right or wrong here and depends highly on parent’s

viewpoint.

Allowance/

Income Allocation Spend

Save

Invest

Recording /

Accounting

Review

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a. Experts who believe in keeping the two separate argue that linking it to

chores may trivialize child’s contribution in housework and demotivate

him/her from being a responsible individual in the family.

b. While those who recommend giving pocket money as a compensation of

work done at home by the child, argue that this will establish a work-pay

linkage in the child and give him a total money sense.

5. Running a simple enterprise during their vacation like a lemonade stand, a craft

store, a drawing class, etc could prove to be an insightful exercise in

entrepreneurship. Similarly working during school vacations, especially for

older teenagers could prove to be a great learning experience. Such an

exercise generally proves helpful in inculcating values such as dignity of labour,

discipline, responsibility and value of money.

Allowance/ Income is a first step but it cannot be the only one. A proper plan

chalked out mutually by the child and the parents and a little timely intervention

from the parents during the week will help take the money wise learnings to the

next levels.

2. Allocation Money is not just to spend or just to save. Money management is about ‘using’

money wisely. Allocation is a tool to manage money in the best possible way.

Allocation means to assign – for spending, saving, investing and sharing!

Money wise, it means to plan beforehand how to use the money. This can be done

by identifying categories, dividing the allowance into various portions and then

allocating an appropriate amount to each category.

Allocation props:

It’d be easy for the child to have a concrete tool, a prop for allocation. Here’s a list

of some possible tools;

1. Jars

2. Envelopes

3. Pocket file or an old photo album with photo pockets

Take 4 jars/ envelopes/ pockets of a photo album and put money in each according to the categories mentioned here. You can allow the child to divide his money in whatever proportion he wants, at first. This can help you start a discussion and get an insight into how she is thinking.

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Below is an example of allocation of allowance;

Jar Category Allocation - % of Allowance

Recommended Child’s

1 Long term savings or Investment

15

2 Short term savings 25

3 Sharing 10

4 Spending 50

a. Long term savings or Investment: This is towards investment, an arrangement for contributing to the child’s long-term requirements like funding education, starting business, buying home or even a bike etc. As your child gets into her teens, like many others, higher education through quality schools/ university would be a key priority. Through this portion your child will get an opportunity to contribute towards this important goal and with that will come a sense of ownership as well. It is recommended to put this part into a safe / ‘faraway/ inaccessible for now’ place like a savings account. This will expose her to banks and banking and also

bring about a savings discipline that would be very

important in her adult life.

You can encourage your teenager to evaluate various investment options and guide her in making her investment decisions. Teenagers till 18 years of age can invest as a minor, with a guardian in fixed deposits, recurring deposits or as a joint holder in a mutual fund or even shares. Post 18 years, they can invest on their own. Take this as a risk-free opportunity to expose your teenager to the rewarding world of investments. They will learn the power of compounding and how money can grow with time, if invested. b. Short term savings:


1. Bank

2. Savings/ checking

account

3. Investment

4. Bonds

5. Mutual Fund

6. Entrepreneurship

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This one is for short-term goals like roller skates, basketball, books or even

indulgences like a fancy toy, games, DVDs, iTunes.

This is a very subtle yet powerful exercise in

delaying gratification as your impatient child/

teenager will have to show restraint till she has

enough money in her jar/envelope to buy what she

wants.

c. Sharing/ Charity: Of the 4 categories, this is the one that will bring you and your family the most pride and joy. This part of your child’s allowance would give the child an ability to help contribute to causes she finds important and this can be tremendously empowering for the child. This also gives children an opportunity to look beyond them and explore their mind beyond the regular. This act of sharing would help them develop empathy and be sensitive to their environment. d. Spending:

This part should take care of the regular spending - the ones that you entrust your child to assume responsibility for. This could include things like fashion, extra toys/ games, eating out with friends, movies and entertainment etc.

Resist the temptation to bailout your child if he runs out of his ‘spending money’ before the week ends and wants more.

This discipline and rule, will help children and teenagers learn the fundamentals of financial education in a risk-free way.

This should be used to bring about relevant concepts of credit card purchases, as sooner or later, your teenager is bound to be chased by credit card companies. Discus credit cards and the benefits and the watch-outs that she must keep in mind before getting one.

Good way to encourage:

1. Delayed Gratification

2. Need or Want

3. Saving discipline


Empathy


1. Smart Spending

2. Needs and wants

3. Responsibility &

accountability


1. Loan and Credit card

2. Interest on loan

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3. Actuals – invest, share, save, spend Once the allowance has been allocated, a more challenging part follows – to follow

the plan diligently, week after week, with every allowance. Though this step is the

test of the child’s discipline and execution skills, it can at times test parents’

patience as well. The challenging part for the parent

here is to stay out of the child’s decisions, unless

asked for. The most important part of financial

education is to let the child own his/her decisions

at every step. Having given the freedom to choose

within a broad plan, you will see how responsible even

your teenager behaves. Besides, you always have a chance to give advice/opinion

at the end of the week, when you sit with the child to review the week’s experiences

& learnings.

4. Accounts

Writing an account means being accountable. Keeping a daily record of ‘where

money comes from’ and ‘where it flies’ is a good habit that

will go a long way even in adulthood. The child can keep

a daily account of income & expenses and balance to

check her money wise performance. These ‘financial

documents’ will be your aid to track the child’s decisions

and review her performance.

5. A Review

This step is parent’s opportunity to help their child learn

(according to your financial education objectives) from their

weeklong experience with pocket money.

In a few weeks into this pocket money routine, your smart

child would herself figure out what worked or what went

wrong during the week and what should be the plan of action

for the next week. Parents’ in a support role, to help the child

articulate learnings and to reinforce her next steps to better the performance for the next

week.

This pocket money routine should be consciously followed - parents will have to initiate and

follow up for the first few (4-5) weeks. Once it’s picked up, you can just sit back and watch

your child grow in experience, math skills (yeah, that too) and be financially fit.


1. Budgeting

2. Record keeping


1. Commitment to

following the plan

2. Execution discipline


1. Reflective observation

2. Performance analysis

3. Accepting Mistakes

4. Learning

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Part F – Where

Where should I teach my child financial lessons?

Anywhere and Everywhere. Make financial education a way of life and be as

natural as possible when talking about money. The most valuable lesson is often

taught by parent being a role model. Children observe how their parents and will

unintentionally pick up the same attitude parents have towards money. Involve

your child/children in simple financial decisions; such as grocery shopping,

deciding on the place to eat etc.

Activity 5 Financial Education Parents’ Action Sheet

Please list your 3 key takeaways from this workshop

What are the 3 financial lessons you’d want to give your child?

Which money sense tool/ idea did you find immediately relevant?

1. Piggy Bank 2. Pocket Money 3. Both 4. None 5. Other (Please specify)

3 actionable steps you’d take after this workshop

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Appendix A: FAQs 1. Q: Is it necessary to talk to young kids about money? Will it not corrupt their

minds? A: It’s extremely important to education children on money. Kids all ages, are bombarded by continuous marketing messages on TV, social media, billboards and amongst friends. Financial education from a young age is the best self-defence. Catch them young else someone else will.

2. Q: What is the right age to start my child’s financial education? A: Each child is different, children will show their readiness for financial education at different ages. The rule of thumb that parents can follow is when a child shows any or all of the following:

a. Makes specific demands in stores/shops or under peer influence. b. Identifies brands in store or on billboards, in magazines or on the

product c. Ask for specific brand of product – toy, clothes, shoes etc d. Shows interest in advertising, merchandise e. Ask questions about / related to money – shows interest in money

3. Q: Is there a recommended way that is effective? A: The most effective way to achieve financial education is to “lead by example”; parents are role-model what they want to see in their children. The other effective way is to let children learn by doing – handling real money through pocket money or allowance.

4. Q: Both parents are busy. How can we make the time for his / her financial education? A: Step 1 - Take time to think through your own financial values and attitudes and set objectives for your child’s financial education. Activity 3 in this workshop will help you articulate the objectives. Step 2: Spot the teachable moment and follow strategies from this workshop that will help you achieve financial education by the way during your day to day living.

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Appendix B: Teachable Moments and Money Sense Lessons

Important Lessons Teachable Moments

1 Smart Shopping - Needs vs Wants - Shopping list - Shopping Budget - Discounts

Involve children in household supermarket / produce/ grocery shopping, in an age appropriate way. At all ages, talk your steps to them as you shop. Ages 3-6 – smart shop with them in tow. Ages 6-9 – Have children read out and check your shopping list as you go together through the supermarket aisles Age 9-12 – Get them to brainstorm and make the list with you. Then go about shopping together as per the list. Casually discus the experience after shopping – while driving back/ at home. Age 13+ – Swap roles. Allow them to lead the shopping experience – making list (as per needs vs wants), working out shopping budget, shop.

2

Saving and bank - Setting money

aside - Visiting bank - ATM - Cash/ Bank/ Credit

cards – related misconceptions

- How money gets in the card?

- Piggy Bank - Take them along when you next visit your bank - When withdrawing cash from ATM, take your child

along and explain how the money got in there (ATM) and what you’d use the money you just withdrew.

- Many kids have misconceptions about the ‘hole in the wall’ (ATM) dispensing cash. Answer their questions, clear their doubts.

- Show them how you plan and put aside (save) money to buy something big later.

- When shopping with bank card/ cash card/ credit card, do involve kids and take time to explain them that these cards are all different ways you’ve stored money and when you pay by card, you are actually paying money that you have already deposited in the card or money in your bank account.

- When going for an EzLink or NETS top-up, take your child along and explain her what you do.

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3 Sharing / giving

- When buying gifts for others - School events – contributions, social service,

charity drive, donations - Family act of giving to less privileged

4 Currencies - Travelling abroad - Exchanging currencies at airport - Using local currency at destination

5 Enterprise / work-pay / Entrepreneurship

- Where money comes from at home - Mom/ dad’s work – pay - Vacation jobs for older teens

6 Delayed Gratification

Involving children in simple activities around the house are excellent exercises to build and practicing this important skill; - Baking together – waiting till the cake is ready - Gardening – patiently waiting for seeds to sprout or

plants to flower - Teaching them difference between needs and

wants - Saying NO and knowing when you need to say NO!

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Appendix C: Tips to Successful Financial Education 1. Bring in the discipline! Set an allowance routine with the child – Set the

allowance amount and frequency along with the child. Lay down her rights and responsibilities towards the given amount. Review her allowance management performance during the allowance cycle.

2. Catch them young! Explain how you run your household budget – Inculcate

the values and habits of planning and sticking to a plan. 3. Demonstrate! Involve her in value buying – Explain what are price, quality and

value. Actively bring about how and why you shop at a particular time, store and for a particular brand of any item through conversations while shopping.

4. Encourage ‘hands-on’ learning! Let her learn from her own spending

mistakes – Let her shop on her own and learn from her own mistakes (take a cue from our Smart Shopping checklist given further). While you spend, avoid any shopping mistake yourself. If you do any, accept it. Remember - Child sees, child does. This establishes that it’s human to make mistakes but it is wise to admit them and learn from them.

5. Drive ownership! Help her set and track her saving goals – Let her wait for her

desires and then buy them on her own through her savings from allowance. It’s fun to learn value of money and delay gratification this way.

6. Talk, as a matter of fact! - Include money, investments, banking and economy at

the dinner table conversations and bedtime stories. 7. Feed their curiosity. Help them learn! Answer all her money related queries and

doubts with relevant anecdotes if possible.

8. Make a smart shopping list. List what you need and prioritise the items in the list. List what you need, the things that you must have and your wants separately. Ask yourself if you will value the item/object after a week, a month or a year.

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