Worried Mother: My Daughter is Spending Too Much at Her School’s Bookshop

Dear Agony Aunt,

I am writing to seek your advice on a matter that has been troubling me for quite some time now. My daughter, who is in primary school, has been spending a significant portion of her daily allowance on purchasing small items like cute erasers, pens, keychains, etc from the school’s bookshop. While I understand the passion for collecting these items, I am concerned that this excessive spending may not be healthy for her.

I have tried talking to her about the importance of budgeting and saving money, but she seems to be more interested in buying the latest accessories, stationery, and other items available at the bookshop. I want to support her interests, but I also want to ensure that she learns the value of money and responsible spending.

I would greatly appreciate any advice or guidance you can offer on how to address this issue with my daughter and help her develop better spending habits.
Sincerely,
Worried Mother

Dear Worried Mother,

It’s understandable that you are concerned about your daughter’s spending habits at the school bookshop. It’s important to address this issue early on to instill good financial habits in your daughter. Here are a few steps you can take to address the situation:

1. Open a dialogue: Sit down with your daughter and have an open and honest conversation about her spending habits. Help her understand the importance of budgeting and saving money for future needs.
2. Set limits: Consider setting a daily or weekly spending limit for your daughter’s allowance. This will help her learn to prioritize her purchases and make more thoughtful spending decisions.
3. Encourage savings: Teach your daughter the value of saving money by setting up a savings jar or piggy bank. Encourage her to save a portion of her allowance for bigger purchases or future goals.
4. Explore alternative activities: Encourage your daughter to explore other activities at school that don’t involve spending money, such as joining a club or participating in sports.
5. Lead by example: Show your daughter responsible spending habits by involving her in family budgeting discussions and demonstrating the importance of saving for the future.

By taking these steps, you can help your daughter develop a healthy relationship with money and spending while still nurturing her love for learning and reading.

Best wishes,
Agony Aunt