Learning the basic difference between need and want is a skill that your child will carry with him or her well into adulthood. Knowing how to differentiate between the two can help both with your budget today and your child’s future financial success.
Teaching the difference between need and want can be difficult in some circumstances. As a parent, you want to enable your child to have everything they want in life. However, it’s also important to learn how and when to say no to your child, too.