Sometimes the best surprises are the simplest things. This past week I received a letter that overwhelmingly reinforced this point.

It was from the mother of a 13-year-old girl who, along with her husband, has been working hard to instill healthy financial habits in their children.

The letter included a completed homework assignment from her daughter’s family and consumer science class. The assignment -- “Plan Your Own Wardrobe”-- had come with the following instructions: “The purpose of this assignment is to give you practice making consumer purchases: deciding what to buy, comparing prices, where to splurge and whether an item is worth the cost. The goal is to get the most for your money.”

The exercise "gave" each student $250 to buy clothing along with a short list of requirements. Each student was required to buy at least two outfits (shirt, pants, and shoes = 1 outfit), list the price of each item and tell where each item was purchased.

The twist came at the end of the assignment.

If the student had any money left over, they could decide what to do with it. The teacher, recognizing an opportunity, primed the pump with a few suggestions on the homework sheet: “Buy more clothing, donate to charity or put it in your savings account."

The simple surprise came when the girl brought home the completed assignment to show her parents. First, she had only “spent” $88.47 in the first part of the $250 exercise. Second, many of the items she “purchased” were on sale or from discount stores. Finally, with the remaining balance she purchased a few more clothes, but also gave $30 to her church and put $70 into savings.

How many teenagers -- much less adults -- do you know who would exercise that kind of restraint? After all, the primary message teenagers receive about money and things in our culture is "it’s all about you and it’s all about now." One would think this hyper focus on self would be a phase of adolescence. But absent any counter-rhythm from mom and dad advocating a more balanced outlook, the "me" theme often carries over into adulthood accompanied by a large amount of consumer debt.

Helping a young person choose a path of financial sanity and balance isn’t always easy, but the immediate and future rewards can be significant -- not to mention the surprises.

Try the same shopping exercise in your family. You might need to modify it a bit to fit your family situation, but the end goal should be the same -- helping your child make balanced decisions with money.

Using a simulated situation like the shopping exercise is wonderful way to teach important life skills about money. Think of it as practicing for a recital or taking a driver’s training course.

What other simulations or real life experiences can you use to reinforce the importance of making responsible money decisions?

Maybe it’s a part-time summer job or preparing for summer camp. A little creativity can go a long way in shaping healthy financial habits.

This question is designed to build on the Share-Save-Spend tip for the week and can be used as a springboard for additional conversations with family and friends.

Americans spent $40 billion on back-to-school shopping in 2004.

Source: National Retail Federation

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