Why Do the Kids Next Door Have So Many More Toys Than We Do?

Tell your kid It's up to adults to decide what they do with their money, and our neighbors may choose to spend more on toys than we do. It's easy to feel jealous, but having more stuff won't make our family happier or better than any other.

What you should know This might sound like a loaded question, but look at it as an opportunity to start a conversation about the concept of money: where it comes from and how your family opts to spend, save, or give it away, suggests Sharon Lechter, founder of payyourfamilyfirst.com, an organization dedicated to improving financial literacy. "Explain that everything has a cost, then describe what it is you and your partner do every day to pay the bills," she says. Discuss the difference between want and need, and, with an older child, talk about ways that he can make money of his own, such as by offering to wash a neighbor's car.

WHY home

commonly asked questions home