How to teach kids to understand price tags and discounts. From cost per use to spotting fake sales, one supermarket trip can teach more than a month of lectures
Your mini millionaire sees price tags every single day.
On cereal boxes, sneakers, and that toy they've been eyeing for weeks. But do they actually understand what those numbers mean?
And when a big red "SALE" sticker appears, do they know whether it's a real deal or a retailer playing tricks?
In South Africa, we know that every rand counts, so teaching kids to read prices (and see right through those sneaky, fake discounts) is one of the most practical money skills you can give them.
The Price Isn't the Whole Story
Most kids see a price tag and think that's the full picture.
It's not.
It goes even deeper from "how much does it cost?" to "what am I actually getting for my money?"
A R500 pair of sneakers worn 200 times costs R2.50 per wear. Whereas a R200 pair that falls apart in a month, is actually way more expensive.
This is called "cost per use" and it's how savvy shoppers think.
Even at the grocery store, two boxes of the same cereal can look identical but tell very different stories when you compare the price per kilogram on the shelf label.
Takeaway: Teach your mini millionaire that the best price isn't always the lowest number.
The Discount Detective
Before your mini millionaire celebrates a sale, teach them to ask three questions:
Retailers use a trick called anchor pricing. They display a higher original price next to the sale price so the discount feels massive, even when it isn't.
South Africa's Black Friday has become a masterclass in this: shoppers have called out major retailers for inflating prices beforehand, then discounting them back to normal.
Why don't you turn it into a game: the next time your child spots a sale, challenge them to play detective and figure out whether the deal is real.
Takeaway: A real discount actually saves you money.
The Supermarket Challenge
On your next grocery run, hand your mini millionaire a short shopping list and a budget of R100 (real or pretend).
Their mission is to find the best value for each item (based on what you’ve taught them above).
Can they spot the difference between the name brand and the store brand? Can they check the unit price on the shelf label? Can they tell whether that "2 for R50" deal is actually cheaper than buying one?
Turn it into a competition. Whoever finds the best deal on three items earns bragging rights (or first dibs on what to get for dessert).
Takeaway: Turn the supermarket into a classroom with price tags.
How do you know that you’re actually getting what you pay for?
Two bags of chips: The same snack, different sizes, different prices. But which one's actually the better deal?
This week's free resource is the Bit By Bit printable. It teaches your mini millionaire one of the most useful tricks in shopping: cost per unit.
Using a simple formula (what you pay ÷ what you get = what each bit costs) it’ll help them compare chips, juice boxes, and cookies to figure out which option gives them more bang for their buck.
It's hands-on, it's visual, and it turns maths into a money superpower. Print it, grab a pen, and let them crack the code.
