The latest in over-the-top gear that might catch a kid's fancy
is Nike's LeBron X sneaker. It tops out at $270 for the high-end
version, which comes with technology that lets users measure things
such as how quick they are and how high they jump (the standard
model retails for "only" $180). That's a tad better than the $315
price point that was first reported. But the question remains: How
should parents handle a kid's request for this expensive
footwear?
In a word,
fuggeddaboutit
. Sometimes, in the interest of teaching your children about
relative values or just plain saving money, you have to say enough
is enough. And $270 (or even $180) is too much.
A teachable moment
. When I first started writing this column in the 1990s, the hot
product was the Pump sneaker, which was one of the first items of
kids' footwear with a price tag that passed the three-figure mark.
What we did in our household -- and what I recommended to other
parents -- was to set a limit on how much we would pay for a pair
of shoes (about $50 back then, as I recall). If the kids wanted
something more expensive, they'd have to make up the difference.
That pretty quickly put an end to requests for outrageous footwear.
The kids went scurrying either to find shoes that were within their
budget or come up with the money themselves.
So consider this latest marketing outrage a prime teachable
moment -- especially if you've exhausted your budget on
back-to-school clothes. My "sneaker rule" still stands. But take
this opportunity to give middle- and high-school students more
responsibility for buying their own clothing.
When kids hit their teens, and before they have income of their
own, you can expand their allowance to include clothes (see
Don't Tie Allowance to Chores
). Base the amount on what you've just spent (assuming you didn't
bust your budget). You can distribute the money monthly or
seasonally -- perhaps starting next spring, if you've already
covered this winter's wardrobe, and next fall for
back-to-school.
Along with the added cash comes additional responsibility for
making their own decisions about how to spend it. Start with these
steps:
Discuss with your kids what the money will cover.
For example, do you expect them to purchase all their clothing, or
is the money for discretionary items while you cover the basics,
such as undies and outerwear?
Ask them to mine their closets and drawers
to see what's still usable or can be refreshed. It's a great way to
teach the difference between wants and needs. For example, if they
need new shoes and want the LeBron X, they'll have to decide
whether the yawning affordability gap is worth filling or whether
they'd rather go with less-expensive shoes and use their cash for
other things.
Have them do a trial run
online, by comparing prices at Web sites or signing up for sale
alerts from their favorite stores (see
our 15 favorite sites for finding deals online
). And take them shopping with you at least once, so you can steer
them to sale racks or introduce them to shopping apps (see
Score the Best Deals on Shopping
).
Once they have income of their own from summer or part-time
work, you can cut back on their allowance.
Either way, paying for their own clothes shouldn't sound like a
punishment that puts them in a straitjacket. On the contrary, you
should sell it as a reward that gives them a chance to make their
own choices and fashion statements.
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Twitter.com/JanetBodnar
.