Weaving our way through the crowds toward the vendor tables, carrying bannocks and lemonade, we checked out all the jewelry, beads, crafts and clothing at the powwow, hunting for treasures to take home and remember the special day. 

My family loves watching the dancing and spending time with our people, listening to music and seeing friends. At the same time, these are easily the most expensive weekends, because there are so many things to buy – ribbon skirts and earrings for me, and hair wraps for my son, to adorn his braids. I do the math in my head as it all adds up, and we have to have some honest conversations so our budget doesn’t get away from us. 

It’s not the only time we have these kinds of conversations, either. Like many families, we talk about money a lot in our day-to-day lives, and teach our child basic financial literacy skills like how to save earned money. Thankfully, there are many useful resources to help with this, including Vancity’s blog  posts.
But as my child has grown up and gotten more exposed to consumer culture, I realized I needed to broaden the scope of our knowledge transfer. After all, understanding money and how to manage it in a world of constant consumerism is about more than just budget tracking. Here’s how I’ve navigated those conversations – and why they’ve become so important.

How we talk about consumption matters

The reality is, we’re living in a time when over-consumption has become normalized, thanks to capitalism, the ubiquity of social media trends, and even because of ecommerce innovations that have made it possible to get anything we want at the click of a button. 

But overconsumption doesn’t just have scary implications for our collective budgets. It’s also, frankly, destroying the planet, and shaping the way generations of younger people approach their purchasing power. As parents, it’s essential to arm our kids with an understanding of the pitfalls of this behaviour – and the power of carefully considering how and what we consume. 

At a time when life has become infinitely more expensive, the urge to buy stuff has never been greater. Just look at TikTok or Instagram, where a constant stream of videos show fast fashion shopping hauls, ever-changing seasonal trends, and elaborate skincare routines designed to hook increasingly younger kids. 

As parents, it’s essential to arm our kids with an understanding of the pitfalls of this behaviour – and the power of carefully considering how and what we consume. 

When I was growing up, ads for toys came on between Saturday morning cartoons and were easy to tell apart from our favourite programs. But nowadays, user-generated content and influencer advertising seamlessly blend in with our daily environment, and people who are friends or influencers are constantly selling the idea of consumption. It’s hard enough for adults to resist temptation, let alone kids.
Teaching kids to understand the implications of consumption – and overconsumption – goes beyond instilling financial responsibility. It also touches on bigger issues that affect us all – climate change and sustainability, global labour standards, and even mental health.

The dire consequences of overconsumption

Young people have always encountered pressures to fit in, and consumption is often seen as a solution. Just drop several hundred dollars on the latest trending sneakers or jacket, and all will be well, the common thinking goes. But studies say otherwise. 

Turns out consumerism is connected to lower levels of happiness and satisfaction, and has been shown to undermine children’s overall sense of well-being. 

But the consequences on the planet are even worse. Excessive production and consumption not only chew up the Earth’s natural resources, they also spit them back out in the form of pollution, waste, and depleted natural landscapes.

And as for financial responsibility, we’ve already got a national personal debt crisis in play, with average credit card balances at an all-time high and average consumer debt (not including mortgages) standing at over $20,000 per person. 
With so much normalized overconsumption behaviour everywhere we look – it’s become altogether too easy to lose track of what ‘normal’ even is anymore. In backlash, some influencers have started flogging what’s become known as underconsumption core, but even their concept of underconsumption seems rather skewed.

Getting the conversation started

So how can we talk to kids about this nuanced and complex topic? Every family will have its own comfort level when it comes to talking about money – and that’s okay. The important thing is to talk about it. 

But here’s a simple truth we can all share with our kids: following all of the trends and keeping up with all of the latest ‘must-haves’ is simply not realistic. In our household, I found there was sometimes a gift in saying no, and telling my child, “You are cool without all the latest things. You are worth hanging out with, even without the latest jeans.” 

These are some of the questions I like to ask my son to consider when it comes to deciding how we spend our money:  

• How will this purchase impact our experiences as a family? Would buying this leave us less able to pay for planned holidays or activities? Which is more important? 

• How will it impact the planet? How Earth-friendly is this choice? Is the packaging sustainable? Do we need it? Is it built to last? 

• What will it mean to our financial well-being? Is this a good use of our resources? Will this still be important in a week? A month? A year? Can it wait? Can we save up for it? Can we afford to maintain it? 

• How will it affect our physical space? Do we have room for it? Where would it be stored in our space? Will it add value or clutter? 

These questions can help to open a broader conversation about our desire for new things, the role of advertising and influencers, and how we can best use our finite resources.

Normalizing talking about money as a family can create accountability and increase confidence about making good choices. 

Replacing retail therapy with healthier habits

We can talk through all the things to think about before making a purchase, but an even better question to ask is – why are we buying this at all? 

There’s a reason we refer to shopping as ‘retail therapy’. There’s a dopamine hit that comes from buying things, and our kids feel it when they get the things they see on social media or on TV, just like we do. They just aren’t old enough to understand the physiological drivers behind those feelings. 

Sometimes the simple answer is that it feels good to get something new. So the next question to ask could be: Is there another way we can feel better or feel belonging? And indeed, there are – things like:

• Exercise: A refreshing walk, join a run club or bike ride along Vancouver’s scenic trails is a great way to boost your mood.
• Spending time in nature: whether it’s discovering Indigenous culture and nature’s healing through experiences with Talasay Tours, or strolling through a neighborhood lined with trees, Vancouver offers many green spaces and parks.
• Connecting with friends: Reconnect with friends through a walk or a casual catch-up over coffee at JJ Bean.
• Listening to our favourite music: Sometimes, it’s as simple as playing your favorite songs while cooking dinner or checking out Vancouver’s lively music scene.
• Playing with a pet: Help out a friend by walking their dog, or visit pet-friendly cafes like The Bunny Cafe or Catoro Pets for some furry companionship.
• Reading a book: Whether you’re joining a local book club or spending time at the stunning Vancouver Public Library, there’s always a place to get lost in a good book.
• Connecting with our culture: Explore Vancouver’s diverse cultural offerings, from the Museum of Anthropology and Bill Reid Gallery to year-round events like the Vancouver Folk Music Festival or Vancouver Film Festival.
• Prioritizing having a plan for your financial health 

Making a list of non-shopping dopamine boosts can go a long way to preventing extra purchases and initiating healthier habits. But it all starts with talking – and even reading – together.

Overspending has serious financial, emotional and environmental impacts, and starting good money habits early can pay off in the long run. Normalizing talking about money as a family can create accountability and increase confidence about making good choices. 

You can talk about how you are planning for their education with an RESP, your retirement with an RRSP or even about when it might be time to open a savings or chequing account for them. 

You can discuss who you get your money advice from – whether it’s your parents, trusted friends, school or a financial advisor like a Vancity Wealth Planner. But in the end, kids will probably learn more from honest stories about mistakes we’ve made than preach-y lectures. 

Once you’ve had those conversations, the next step is taking action as a family. For example, you could: 

• Work with your kids to set a budget to help them allocate their allowance. Explore books that make learning about money fun and easy to understand.
• Take a look around the house at how overconsumption might have already impacted your life and consider having a yard sale to declutter and put money back into your pocket
• Meet with a Vancity advisor about how your kids can set themselves up for financial success

Building healthy money habits can help build brighter futures and better relationships as a family. And energy previously spent chasing trends can be re-invested in what really matters – having experiences and building memories that last longer than any new object. Ultimately, saving money also saves stress and creates space free of clutter, leaving room for many more exciting possibilities than consumer culture can ever provide.