Wanting to Play Multiple Sports
Suggest that your kid picks their favorite sport. Explain that it can become costly, and remind them of the other activities they do that also cost money. Help them calculate the total cost of all the activities they want to do. Then, explain that you have a budget for their activities. If the total cost for activities is beyond the budget you have given them, offer to let them contribute to the total so that they can do all the activities they are interested in.
At the Grocery Store
The grocery store is a great place to talk about the idea of making trade-offs. Let your kids choose the menu for a special dinner during the week. Then help them understand that, in order to purchase all of the ingredients for that special dinner, they may only be able to choose one extra treat for the week.
On a Weekend Trip
Explain hidden costs associated with a quick family getaway—gas, hotel, eating out, and more. Ask the kids for help when budgeting for the next family road trip.