As parents, it can be challenging to find the balance between giving your kids the freedom to spend their money as they choose and guiding them to make smart money decisions. With kids and teens being influenced by their friends, social media and marketing campaigns, all this societal pressure can lead to impulse buying. Here we’ll explain what impulse buying is, why teens are prone to it, and share some helpful tips to encourage your kids to control their impulse spending.
What is impulse buying?
Impulse buying is buying a product or service that you weren’t intending to buy in the first place. Let’s face it—it’s happened to all of us. Picture this: you’re walking into a store and you see an item that catches your eye. You try it on and before you know it, you’ve tapped your credit card and are walking out of the store with a shopping bag in hand.
Why do teens buy on impulse?
There’s plenty of internal and external factors that play into teens buying on impulse. In fact, studies have shown that in a teenage brain, their prefrontal cortex isn’t fully developed yet. This impacts teens’ impulse control and decision making, which means they aren’t as concerned about future consequences.
Karen Holland, Founder of Gifting Sense says, “Teenagers aren’t thoughtless consumers, what they are is inexperienced. And when you combine today’s frictionless spending environment with that lack of experience, you get some missteps.”
With external pressures such as the feeling of missing out (a.k.a. FOMO) on a sale, the allure of social media and influencer marketing can also cause teens to chase after instant gratification. Because after all, they say, “YOLO!”, meaning “you only live once” for a reason.
Plus, when teens are feeling tired, stressed out, hungry or overstimulated, they could be prone to emotional spending. They justify the purchase by saying they’ve had a tough day at school to feel better about themselves.
8 tips to help kids avoid impulse buying
Here are some strategies you can use to start the conversation with your kid or teen about impulse buying.
1. Determine if this is a want or a need
When your kids say to you, “But I need this now!”, it’s an opportunity to ask them whether the item they want to buy is a want or a need. Basic daily necessities such as healthy meals, non-branded clothing, and shelter are considered needs. Whereas wants are nice-to-have things such as video games, designer clothes, and dining out. Understanding the difference between the two helps to prioritize their wish list.
2. Calculate how many hours it takes to pay for it
A simple exercise to place value on an item is by encouraging your teens to calculate how many hours they would need to work at their part-time job or how many weeks worth of chores they’d need to complete. Let’s say your teen wants to buy a pair of designer sneakers for $120. If they earn $15 an hour, they need to work eight hours in order to buy the item. They can then decide whether it’s time and money well spent.
Another interactive tool that families can use is the DIMS – Does It Make Sense?® Score Calculator. “It’s a three-minute ‘pause before purchase’ tool that slows kids down just enough to help them avoid spending in a way that they may end up regretting,” explains Holland.
3. Create a budget and a shopping list
Take the time with your teen to create a budget. “This will give them a sightline as to how they can live the life they want, without spending more than they make,” explains Holland.
Tally all sources of income including their allowance, earning money from doing chores, and a part-time job. Next, write down a list of items they want to buy and their costs. From there, they can decide how much money they want to allocate toward each item. This exercise will help them determine what they can purchase now versus later and become mindful of their spending habits.
4. Don’t save your payment info online
Another way to avoid instant purchases is to turn off the autocomplete payment feature when making purchases online. This way your kid will have to physically go across the room to grab their wallet and manually input their payment info. This short moment can help them reflect on whether it’s an intentional or impulsive purchase.
5. Have a cooling off period
In the heat of the moment, it’s tempting to click the “buy now” button. Instead, suggest to your kids or teens to wait 24 hours before checking out their online shopping cart or return to the mall the following day to buy those must-have headphones. It’s a litmus test to see if they really still want it or whether they’ve completely forgotten about it when they’ve had some time to calm their emotions.
6. Do a no spend challenge
If your kids are up for a challenge, you can introduce them to a no spend day where they can ask their friends to join in. Basically, you choose a day where you don’t spend any money. Afterward, you can have an open discussion where they share what they have learned. It teaches delayed gratification and encourages creative ways to make use of what they already own.
7. Stop comparing yourself to others
Scrolling through endless reels and photos of friends on social media showcasing their latest haul, it’s easy for teens to get caught up in comparing themselves to others. But doing so can make them feel inferior and that they have to keep up with the Joneses. Soon it can become a never-ending cycle of buying fast fashion or the latest electronics to feel like one of the “cool kids”.
“The carefully curated lives we see in marketing or on social media just aren’t representative of real life. So of course, our real, and therefore messy and unpredictable lives, never measure up,” adds Holland. Once your kids make the choice to stop sizing themselves up to others, it can be liberating and no longer dampen their self-esteem.
8. Give kids the freedom to make decisions
As much as you want to steer your kids away from making impulse purchases, it’s important to give kids autonomy over their spending choices so they can experience the positive or negative consequences that come with it.
“Better to buy the wrong sweater or phone case when you are spending your birthday money, than to blindly enter into a car loan agreement or agree to student loan terms you don’t fully understand,” says Holland. That way they can learn from their mistakes earlier and make smarter buying decisions as they become adults.
Spending choices can help you shape your future
Now you know more about how the minds of teens work and the inside and outside forces that can cause them to spend on impulse. Rest assured, you have the capability to share with them the difference between their wants and needs, how to create a budget, and encourage them to show off their competitive spirit with a fun no-spend challenge. With the help of Mydoh, you can help empower them to become money-smart kids.
Download Mydoh and help build the foundation of financial literacy for your kids and teenagers.
Picture six kids—three boys and three girls—standing in a gym. They’re given a simple task: sort coloured balloons into separate hampers. Chaos ensues and at the end of the game (cue fist bumps and high fives), the kids close their eyes and wait for their reward: a cup of candy.
Only some cups had more candy than others.
“You got more than me,” quips one girl.
“How come you got that much when we have the same job?” asks another girl.
In the end, the kids share their candy to make it equal. “Because there’s no real difference in what we did,” says one of the boys.
The point of this video? It gives kids a simple explanation for a not-so-simple issue: the gender pay gap. In this article we cover equal pay, the causes of the gender pay gap, and how to talk to your kids and teens about it.
What is the gender pay gap?
When people talk about the gender pay gap (or wage gap), they’re referring to the difference in average earnings between men and women. The gap can be measured using different metrics, including average annual earnings, hourly wages, and part-time work. This gap—usually expressed as cents on the dollar that women earn compared to men—helps reflect inequities in our society. Inequities that can last throughout a woman’s life. That’s because the gender pay gap is shown to be one of the main causes of poverty for women.
Is there equal pay in Canada?
The short answer to whether there is equal pay in Canada is: no.
Currently, women do not receive equal pay. In 2021 part-time and full-time female workers earned 89 cents for every dollar earned by men. And according to 2019 statistics, if you factor in annual wages, salaries, and commissions, that amount is reduced to 71 cents for every $1 a man takes home. While 89 cents compared to $1 doesn’t seem like a big deal, over a woman’s career, that seemingly small difference adds up.
On average, white men earn $56,920 vs $31,900 for Black women. That’s a difference of almost 44%. While the gap isn’t as pronounced between Black and non racialized women in Canada ($31,900 vs $38,247), the racial wage gap still adds up to a huge difference over a lifetime of working.
What is Equal Pay Day?
Equal Pay Day is a symbolic day dedicated to raising awareness of the gender pay gap by highlighting that women must work longer than men to earn the same amount.
When is Equal Pay Day in Canada?
In 2023, Equal Pay Day falls on April 4, 2023. It symbolizes how far into the next year the average woman must work in order to have earned what the average man had earned in the previous year.
What causes the gender pay gap?
Historically, the wage gap could be explained by the belief that men were the breadwinners and women caregivers. Women had lower levels of education, there were fewer women in the workforce, and those who worked were concentrated in traditionally female (and therefore lower-paying) industries, such as clerical and factory work.
There were also cultural assumptions that women had better aptitudes or were more suited for menial and repetitive clerical work (Check out this podcast on how that idea still exists. Siri… Alexa. What do they have in common? They’re the modern version of a clerical assistant. And they’re female voices).
Then the 1960s and 1970s saw a world of firsts for women—first female Prime Minister, first woman in space, the first female Supreme Court appointment— and women pursued post-secondary education in droves. This higher education opened doors to professions traditionally dominated by men.
Human capital (the idea that skills, talent, experience, and knowledge helps a person be productive) could no longer be the reason for the pay gap. And yet while the wage gap narrowed, it hit a plateau and stayed there.
There is no one reason for the wage gap, but many. According to a recent study from Denmark, the disparity isn’t from being a woman, but from being a mother. Due to cultural norms that childcare is primarily “women’s work,” research shows that it’s more often women who switch to jobs and industries seen as more “family-friendly,” that is, more flexible for parents. This translates into lost opportunities for more hours, promotions and increased wages, commonly known as the “motherhood penalty.” Here’s the rub: the wage gap shrinks substantially for women without children.
Another study from Cornell in the U.S. found that women-dominated occupations and industries (“women’s work,” such as education and social services) pay less than men’s (think engineering, technology and business), despite accounting for similar education and experience. Even women in skilled trades earn about half of what men do, mainly because they are concentrated in lower-paying fields, such as cooking, baking and hairstyling. Then there’s women’s reluctance to negotiate over salaries, raises, or promotions, due to conditioning that it makes them pushy or overbearing.
The wage gap doesn’t only affect adult women; according to a recent study by Girl Guides of Canada, the wage gap starts much earlier. Girls between 12 and 18 reported earning $3.00 per hour less for full-time summer work than boys. Girls were also clustered in lower-paid “pink ghetto jobs,” such as caring for others (babysitting or eldercare), food and beverage, and retail, while boys dominated the maintenance, gardening or grounds-keeping job sector.
The impacts of the pay gap are far-reaching: not only do women have less money to spend and save during their working years, but their lower incomes and intermittent career paths hurt them into retirement. Women typically have access to lower savings and benefits, such as the Canada Pension Plan, as payouts are determined by your contributions over your working life.
This disparity was made worse by the COVID-19 pandemic. According to a report by RBC Economics, by April 2020 an estimated 1.5 million women had lost their jobs and workforce participation dipped to only 55 per cent—the lowest since the mid-1980s.
The majority of losses happened in hotel, food services and retail—industries dominated by women and less conducive to working from home. In comparison, men in professional, scientific, and technical businesses fared better, where working from home was much easier, or in industries deemed essential, such as construction.
Women are also more likely to “fall out” of the labour force; by October, almost 21,000 women chose not to return to work, largely because of childcare responsibilities with kids learning from home.
Tips for talking to kids and teens about the wage gap
As the Girl Guides study shows, the wage gap could start as early as adolescence. But even at home, some parents may unconsciously assign chores along gender lines (cleaning or cooking for girls, yard work and home maintenance for boys). Chores are a great way to start teaching kids about gender equality. When assigning tasks, ensure both boys and girls are helping equally and complete tasks inside and outside the home–mowing the lawn for girls, laundry for boys.
Talking about money is often seen as “taboo,” but pay transparency, or openly sharing details about compensation, can go a long way to help narrow the wage gap. Teaching tweens and teens, especially girls, that asking potential employers about pay rates before accepting a job isn’t unladylike, but a necessity.
Job hunting is tough, regardless of age, so reminding kids of their value is key. If your tween or teen is thinking about a summer job traditionally dominated by boys (maybe landscaping or a soccer referee), tell her to go for it! Then coach them to ask for an outline of expectations, so they are clear on their duties—and what they’re being paid for.
Girls are a huge part of our future workforce and teaching tweens and teens about the pay gap now helps to build a future where they won’t need an Equal Pay Day.
Download Mydoh and help build the foundation of financial literacy for your kids and teenagers.
When Greta Thunberg was 15 years old, the Stockholm-based teen sat in front of the Swedish parliament every Friday holding a handwritten sign that read “school strike for climate.”
Her demand? For governmental policy to align with the Paris Climate Agreement that aims to reduce worldwide greenhouse gas emissions and limit global temperature rises to 1.5°C.
Soon her solitary sit-in went viral and today her #FridaysForFuture movement that started in August 2018 has inspired youth around the world, including the Global Climate Strike that saw millions of kids and youth in 185 countries take to the streets to lend their voices to the fight.
While many kids and teens might feel voiceless, too young to vote and dismissed for their age, it’s today’s youth who will have to deal with the effects of climate change. Admittedly we know it can be daunting (even scary!) to teach kids about climate change, but open conversations can alleviate climate anxiety and provide kids with a sense of agency.
One easy way to inspire environmental action in your kids? Share stories of their activist peers, like these 10 Canadian teen climate activists who are taking their futures into their own hands.
10 young Canadians helping to fight climate change
While Greta is now a household name, she wasn’t the first teen to call for government leaders to address climate change. In 1992, then 12-year-old Severn Cullis-Suzuki, daughter of Canadian environmentalist and broadcaster David Suzuki, delivered a speech at the Rio Earth Summit pleading for delegates to take steps to preserve the planet.
Thirty years later, there is a new crop of young Canadian activists who are taking a stand against climate change and inspiring kids and teens to also make a difference:
Sophia is also one of seven youth applicants in a climate lawsuit against the Ontario government, which asserts that the province’s 2030 greenhouse gas emissions target is inadequate, unconstitutional and must be struck down. The government lost both a motion to strike down the lawsuit, and an appeal, making this the first time a Canadian court has ruled that climate change can threaten Canadians’ fundamental rights.
2. Sáj Starcevich
Dubbed “Saskatchewan’s Greta Thunberg,” Sáj Starcevich, 15, has been an activist for much of her young life. First she was a vegan involved in animal rights and more recently Sáj is fighting climate change. A member of the Carry the Kettle Nakoda Nation, she’s met with local government officials and attended Fridays For Future marches across Saskatchewan and Canada. In October 2019, Sáj became one of 15 young Canadians (ranging from 11 to 20) who launched a lawsuit against the Canadian government.
Their case alleged that the federal government violated their charter rights to life, liberty and security, and equality, since youth are disproportionately affected by the effects of the climate emergency. Unfortunately, the lawsuit was dismissed by the Federal Court.
3. Mikaeel Mahmood
Mississauga, Ont. tween Mikaeel Mahmood once dreamt of growing up to be a farmer. But as he learned about the realities of farming, including increased crop failure due to climate change-induced swings in temperatures and rainfall, his dream seemed lost.
Having personally experienced the effects of climate change, including heat waves and polar vortexes, Mikaeel became the youngest (at 10) of the 15 plaintiffs in the same lawsuit against the federal government as Sáj. But Mikaeel doesn’t think the courts are the only way to make a difference: he encourages youth to take smaller actions to do their part, such as driving less and eating less meat.
4. Autumn Peltier
When she was eight years old, Autumn Peltier from Wiikwemkoong First Nation on Manitoulin Island, attended a ceremony at Serpent River First Nation where she noticed a sign warning about toxic water. Today, Autumn is a water-rights activist. At age 12, Autumn confronted Prime Minister Justin Trudeau at an Assembly of First Nations event on his environmental record and extracted a promise that he would “protect the water.”
Since then, Autumn has spoken at the United Nations World Water Day, been honoured by the Assembly of First Nations as a water protector, and was invited by the United Nations to Stockholm, Sweden, for World Water Week in 2018. Now 18, Autumn continues to advocate for clean water access for Indigenous peoples and has emerged as a powerful voice in the climate movement. In 2019, she was named Chief Water commissioner for the Aniishnabek Nation.
5. Albert Lalonde
The first time Albert Lalonde rallied 200 students at his high school to skip class, he was slapped with two hours of detention. Frustrated with the Quebec government’s silence on demands to reduce greenhouse gas emissions, the then 16-year-old Montreal high school student began organizing general assemblies with the goal to shut the school down. It worked.
As a spokesperson for CEVES, a climate action group that represents high school, CÉGEP and university students across the province, Albert vows to fight for climate justice until youth have secured their future. Albert argues that, “Government’s refusal to act on climate change according to what science states is needed for survival is violating young people’s right to be young.” He was also one of the 15 plaintiffs in the lawsuit against the federal government.
6. Katia Bannister
Katia Bannister is an 19-year-old climate activist and community organizer from the Gulf Islands, B.C. She is a student at the University of Victoria where she plans to work in ethnoecology. Katia has worked and volunteered extensively for local environmental and social justice organizations, including the Cowichan Valley Earth Guardians.
Katia believes in the power of her voice and writing to catalyze change in the world. She also wants to inspire other youth to take action in their communities, develop their skills in leadership, and use their unique voices and talents to create the change they want to see now and in the future. Katia is a sought-after youth speaker, and avid blogger and storyteller behind Sowing Seeds for Change.
7. Sam Tierney
When Sam Tierney was 13 years old, the Pemberton B.C. resident had a tough time keeping his climate anxiety at bay. He’d read magazine articles about the enormity of climate change and lie awake all night with worry. Sam wrote to Mike Douglas, a vocal climate activist, chair of Protect Our Winters (POW) Canada and freeskiing legend. Mike was moved by the teen’s letter and wrote back almost immediately. His advice: action is the antidote to despair.
Sam responded by joining POW, then organized a petition calling for more youth involvement in his town’s climate action plan. Sam and a group of students delivered the petition to the Mayor by hand. Then Mike invited the teen to weekly ski meetups where they could talk about climate, skiing, and life—with a film crew in tow. Mike captured those meetups in the 30-minute short filmSam & Me, with the goal to help others jumpstart their own personal climate advocacy journeys.
8. Naila Moloo
From a young age Ottawa-based Naila Moloo has wanted to help end our global consumption of fossil fuels. She’s passionate about solar energy, having designed a transparent and flexible solar cell using silver nanowires. Naila is also currently developing a bioplastic from duckweed through an internship at Pond Biomaterials. She’s co-host of The Curiosity Podcast, which is about equipping young people with the skills they need to thrive in the future, and spoken across global stages.
Naila was the youngest recipient of Canada’s Top 100 Most Powerful Women and earlier this year was named one of Canada’s Top 25 Under 25 Environmentalists. All this and she’s only 16.
Kiya Bruno is fiercely proud of her Indigenous heritage. At age 13, the teen from Samson Cree Nation in Maskwacis, Alberta, was the first person to perform the national anthem in Cree at a Toronto Blue Jays game in Toronto. (She’s since performed for Hockey Day in Canada and CBC The National’s Canada Day Special.) Now 16, Kiya and her mother continue their efforts to foster awareness of environmental issues through an Indigenous perspective.
They recently launched their Indigenous-inspired apparel and clothing company Stay Rooted Apparel ᑲᓇᐁᐧᔨᐦᑌᑕᐣ ᒥᑐᓴᐠ to foster a connection with the land, culture, and language. With each purchase, five trees are planted to help combat climate change and 10 per cent of the company’s proceeds go towards providing clean drinking water to a First Nations family.
10. Ira Reinhart-Smith
Ira Reinhart-Smith witnessed firsthand the impact of rising tides and intense storms on Nova Scotian shorelines, as hurricanes have become statistically stronger and more frequent. As a result, he was among the 15 youths to file a lawsuit against the federal government. The ocean plays a big part in Ira’s activism due to concerns that rising temperatures will damage marine habitats.
Ira also lives in an area with one of the highest Lyme disease rates in Canada (a tick-borne illness made more prevalent with the warmer temperatures) and some of his friends and family have contracted the disease. He attended his first #FridaysForFuture rally in 2018 and now organizes rallies close to home.
How can kids help take care of the environment?
Gen Z are probably more climate-aware than any generation that has come before them. And research shows that youth are actually “wired” to push for change and think outside the box, according to Ilona Dougherty, co-creator and managing director of the Youth & Innovation Project at the University of Waterloo.
The first step starts with the simple adage: think globally, act locally. From at home, to school, to their community, here are some ways tweens and teens can reduce their carbon footprint, help care for their environment and fight climate change.
Growing a vegetable garden is tasty and shortens the food miles—the distance food travels before reaching the store—which, in turn, reduces CO2 emissions.
Trees naturally absorb or sequester carbon, so planting a tree reduces greenhouse gas emissions and helps kids see the long-term investment in climate action.
Turn off lights, TVs, and lower the thermostat—those little things add up!
Research shows that dairy and meat consumption are contributors to climate change. Increasing your family’s plant-based eating (hello, Meatless Mondays!) is good for the planet and your health.
Ways students can make schools and classrooms more sustainable
Help kids pack lunches using reusable containers and swap out single-use snacks for bulk items. All those plastic bags and cling wrap often end up in landfill, contributing to greenhouse gas emissions.
Transportation is one of the largest sources of carbon emissions, so instead of driving to school, hop on a bike or walk to school.
Ways kids can help the environment in their neighbourhood and community
Get involved in a local cleanup, like a Trash Bash or National CleanUp Day or just pick up trash in your neighbourhood park, ravine, or beach. It cultivates a connection to the earth and reminds kids and teens why it’s worth saving.
On the international stage, UNICEF has created Voices of Youth, a platform for young advocates to offer inspiring and original insights on issues that matter to them, while the United Nations Climate Action page shares voices and stories from around the world. Amnesty International shares resources on climate justice.
Kids and teens are social media savvy. Encourage them to use social media to influence climate change by becoming a “green influencer.” As they post, share and comment on others’ climate content they’re more likely to see their activist community grow.
Kids and youth are rising in unprecedented numbers around the world to call on governments to limit global warming. It’s a big ask, but as Greta says, “You are never too small to make a difference.” And that change towards a better future starts at home.
How we can use financial literacy as a tool for sustainable change
These inspiring young Canadian environmentalists are just a sample of the youth who are determined to make a change. They show us that no matter how old you are or where you come from, you can make a real difference in your community and even the world. We can learn a lot from their examples: if we come together and recognize the power of our collective action, we can create meaningful change.
Financial literacy is also an important part of helping kids understand how to take care of the environment. By having an understanding of the Canadian financial system, kids can learn the value of using sustainable practices and strategies, such as shopping second-hand at thrift stores, using energy-efficient appliances, or carpooling. Teaching kids about financial topics like investments, budgeting, and needs vs wants can empower them to make informed purchase decisions that benefit the environment, such as buying eco-friendly products, using renewable energy sources, and supporting sustainable businesses.
Download Mydoh and give your kids the tools they need to take charge of their financial future and create a more sustainable world.