The Consumer Reports Shopping Blog post I've referenced, Teens talk brands, a lot, has this to say, regarding the impact of "branding" on actual spending,
For parents, all this brand chatter might not be welcome news, as brand talk leads to requests for specific products. While teens referencing brands isn't really new, what is new is the fact that advertising is coming at them from more sources than ever and is often more fluidly integrated into their entertainment. With the increasing proliferation of viral marketing, it seems that teen exposure to and discussion of brands can only increase.
I think that, while we cannot keep media advertising completely away from our children, we can surely minimize and monitor said exposure. Actively interacting with your children, continually educating them in the practice of frugality can also instill proper values with regards to discretionary spending. Certainly, living out the lifestyle (yourself) is potentially the best way to demonstrate how not to succumb to the worship of The Brand.
As our oldest daughter gets closer to the teenage years, my wife and I have taken it upon ourselves to actively educate her in how to manage her finances, including her spending habits. Given her personality, though, the job shouldn't be that difficult, considering she is reluctant to hand over her hard-earned money for anything that she does not consider worthy of such an exchange (and not much falls into that category).
Yet, one cannot be lax in diligently demonstrating how to be frugal.
One such excursion into frugality took place took place this past week as my wife took our children shopping for clothes, not to Nordstrom or even Walmart, but to a local thrift store. The photo at left shows what they came away with: A skirt for my wife, and for my daughter, a denim skirt, denim shirt, a top, a pair of shoes, and a belt. Total price? $10.60 (including tax). Our children also found 9 paperback books (not pictured), which we purchased for $2.42 (including tax). Bookending our excursion, the next day, we all stopped by a local library bookstore and found 11 books (pictured below), including a couple of books that I had had on my Amazon wishlist (The Richest Man in Babylon - Amazon price $6.99, and Seabiscuit: an American Legend - Amazon price $11.96), as well as a hardcover edition of a book my oldest daughter was interested in (The Man Who Listens to Horses - Amazon price $7.99 paperback). Our total, out-the-door price for those 11 books? $6.50. All said, everything (6 articles of clothing and 20 books) came in for under $20.
Quite a nice haul.
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