Centra Blog

Increasing your Financial IQ

Teach Your Kids How You Comparison Shop

Learning how to shop around or comparison shop is a useful skill that can save people tons of money. With the internet, it’s way easier than it used to be to choose the best option. From toasters to cars, you want to shop around and get the best deal no matter what your budget is. Teaching kids how to do this is super simple. Next time you’re looking to buy something new, involve your kid(s) in how you decide on what to get. Some ideas of things you can show them:

Amazon/Website Reviews 

Almost any household item can be found on Amazon, other online shopping websites, or sometimes consumer review sites. Check out the review ratings and read some reviews to see what some opinions are. Be wary of all 5-star reviews that seem a little off, and check 1-star reviews for any deal breakers. You can also usually see other suggested products that are similar to what you searched for on Amazon to help compare prices and ratings. It’s important to check a few websites including the company that actually makes the product to see if they have any special offers available. Keep in mind that some stores will price match if you find a product for a lower price somewhere else.

YouTube and Blogger Reviews

You could go through the process of researching each product, or you could find a blogger you trust who has already done this work for you. Bloggers and YouTubers rate and review products and will usually provide demonstrations of using the products too. It’s important to teach kids that you don’t trust someone’s opinion just because they have a lot of subscribers or followers. Teach them how to think independently and always get multiple opinions before settling on the first option. This could help them save money and end up with a better product. 

Talk to Experts

When it comes to big life purchases like vehicles and homes, or even technology and furniture, it’s important to reach out to experts. Sometimes, it’s nice to lean on an expert in the business on big purchases like this. You can teach your kids to start by asking friends or family for recommendations of the most helpful experts. Usually, people are happy to give their opinions because they’ve been in your shoes before.