“I want a dog” has many costs associated with it. The apartment complex charges a monthly fee. There are costs for food, toys, and other necessities. There are the healthcare costs.

Sometimes we will point out how much something costs and ask them what they’d be willing to give up to have what they want. Sometimes the shock value of a number can send the message that we won’t be doing something. Equate the purchase of a video game console to how many action figures/Barbies they have. Or going on a vacation costs as much as this many times going to McDonalds.

I also think it’s good to talk about wages for work so they can understand the difference an education can make, understand the difference between the value of work in different industries. It can help them understand how your lifestyle can vary significantly based on your income.