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Yesterday afternoon, our daughters asked if we could go out to the local Silver Diner for dinner. They are members of the chain's kid's club, and had received promotional coupons for a free kid's entree and dessert. I like the food at Silver Diner, and their menu isn't terribly expensive, so we agreed to take the kids out for the evening.
The girls ordered their meals from the kids' menu, and my wife and I chose our dinners and after our food arrived, the older daughter commented that they were saving us money because of their coupons. My wife and I can spot a teaching moment when its served on a platter like that! We explained to our daughter that, in fact, we weren't saving any money on the evening. While we weren't paying for their entrees or desserts, we were paying for the adult meals, and that they would cost us more than we would have spent for the entire meal for all four of us if we had cooked at home. We pointed out that we probably would not have gone out to eat if they hadn't received the coupons, so the coupons, in fact, resulted in us paying more for dinner than we would have otherwise. It took a while for her to understand the concept. She kept trying to point to her meal being free, which is a victory for the marketing people. Eventually, I think she understood the point. The coupon only saves you money if you use it for something you were going to buy anyway. If the coupon (or a sale price) causes you to purchase something you otherwise would not have bought, you did not save anything.
We weren't trying to make her feel guilty about going out to dinner, because we enjoyed the meal and the evening out without having to cook. But we did want her to understand that the idea that you are saving money just because you use a coupon or buy something on sale is often incorrect. You need to think about what you would have done without the coupon or sale, to see if you are really saving money. I'm sure we'll have to revisit this issue again, but it's a lesson worth teaching, as it will help her understand her financial decision better in the future.
The girls ordered their meals from the kids' menu, and my wife and I chose our dinners and after our food arrived, the older daughter commented that they were saving us money because of their coupons. My wife and I can spot a teaching moment when its served on a platter like that! We explained to our daughter that, in fact, we weren't saving any money on the evening. While we weren't paying for their entrees or desserts, we were paying for the adult meals, and that they would cost us more than we would have spent for the entire meal for all four of us if we had cooked at home. We pointed out that we probably would not have gone out to eat if they hadn't received the coupons, so the coupons, in fact, resulted in us paying more for dinner than we would have otherwise. It took a while for her to understand the concept. She kept trying to point to her meal being free, which is a victory for the marketing people. Eventually, I think she understood the point. The coupon only saves you money if you use it for something you were going to buy anyway. If the coupon (or a sale price) causes you to purchase something you otherwise would not have bought, you did not save anything.
We weren't trying to make her feel guilty about going out to dinner, because we enjoyed the meal and the evening out without having to cook. But we did want her to understand that the idea that you are saving money just because you use a coupon or buy something on sale is often incorrect. You need to think about what you would have done without the coupon or sale, to see if you are really saving money. I'm sure we'll have to revisit this issue again, but it's a lesson worth teaching, as it will help her understand her financial decision better in the future.
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