BANG FOR YOUR BUCK

Comparing prices, researching products - parents can help their kids learn how to shop responsibly

- Jane Ng

When mum-of-two Suzanne Quan-Chai makes online purchases, she gets her two primary school-going children to sit beside her to browse different websites and compare product features.

She also points out to them factors such as delivery costs, delivery times, seller ratings, reviews and potential warranty offers.

She says doing so will teach them to make informed decisions when they make a purchase.

"This process helps them see that price is only one factor in assessing value. Quality, durability and service are just as important," says the 44-year-old program manager, who has two children, Charlotte, 12, and Jenson, 10, with her husband Ryan Quan-Chai, 44, a compliance officer.

Nurturing them to be astute shoppers extends to "lessons" while shopping in a bricks-and-mortar store.

When the family does grocery shopping, Mrs Quan-Chai emphasizes the importance of checking for discounts, bulk deals or loyalty programmes. But it is not about picking the cheapest item on the shelf.

"For example, when shopping for a common household item, we ask them to compare the price per unit, not just the total price, to better understand which product offers more value," she says.

Her husband adds that when the children ask for a new toy despite having a similar one at home, he gets them to ask themselves: "Do I need this or do I want this?"

"This encourages them to pause and reflect if the new item will truly add value to their experience," he says, adding that he reminds them to pick items that have a "residual value" so they can be resold or given away, rather than simply discarded.

A method that has worked to hold off purchases is getting the kids to write an A5 page of reasons to justify a purchase.