On a recent episode of Shark Tank, a show where entrepreneurs pitch their businesses to venture capitalists to secure financing, one entrepreneur was looking for capital to expand a store that sells exclusively to young children who buy gifts for their parents as a way to teach them about the shopping experience. The store looks like a miniature village where children can go to different types of storefronts to buy specific gifts for their parents.
Is this a clever way to teach children the value of the dollar or does it encourage them to view shopping as a fun game or sport? Do young children need to learn how to shop?
What do you think?
While this is certainly an interesting way to teach kids about shopping, the issue is more about the prudent overall use of money, of which shopping is just one. Teaching kids the value of what a dollar can buy is key but also teaching them that they can buy the same product/service at a lower price by knowing how to shop is a valuable lesson as well. Understanding that lesson can be useful when it comes to shopping for a loan, shopping for the best interest rate on a CD, or even a financial adviser.