“I Want it NOW!”

Many young children know the concept of, “I want it NOW,” very well. Especially if the item is expensive and the child does not have enough money to pay for it on his or her own. This can be a prime opportunity to teach the child the difference between “wants” and “needs.” It is not a good idea for a parent to step in and pay for an item that falls into the “wants” category just to immediately satisfy the child. Teaching a child to save their money over time for something that is desired is a way to encourage good spending and saving habits.