When I was presented with the teens Christmas list back in September, I knew there had to be a little discussion. Whilst only 4 items had made the list, on the top was a PlayStation 4. I kind of knew this was coming. He has a PlayStation 2 which he got earlier on this year, thanks to the increase in retro gaming. It cost him £30, and whilst he enjoys playing on it, the graphics are not the best. Plus you can’t chat with your mates like you can on the PlayStation 4.

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So ‘Santa’ had to use some negotiating skills. The console retails at just under £300, which is over our budget for Christmas. We sat the teen down one night and explained that ‘Santa’ does not have a limitless budget. He completely understood, and then he came up with a solution. What if he saved £100 towards the console. We quickly did some calculations, and yes if he saved his £7 pocket money a week, plus some savings he already had, he would have the amount by Christmas.

I am so proud that saving for his console is always at the forefront of his mind. He thinks twice now before spending 80p on a can of pop. A few weeks ago when he accidentally damaged the screen on his phone, he was distraught. Distraught at having to pay to get the phone fixed from his precious savings. It was awful seeing him so upset, and we offered him a different solution.

He has always been a saver, and I really hope he carries this through to adulthood. He seems quite driven by money, and that was one of the reasons why we introduced pocket money a few years ago. His behaviour was getting out of hand, and the promise of £1 a day, linked to chores and being good, has certainly helped. His sister is completely different. The minute she has some, it HAS to be spent on plastic tat.

So in the end son was happy, I was happy, and his dad was happy that finally the house would be filled with a PlayStation 4. Santa just needs to hurry up and order it now.

Are your children savers or spenders ?