People sometimes ask why a DIMS SCORE® question is worded or scored as it is. We created the DIMS SCORE® Question blog series to explain the thinking that led to the DIMS SCORE® Calculator you see today. This post discusses why things like the need for ongoing supplies for a requested purchase reduce a DIMS SCORE®.
Uncovering phantom costs helps kids understand “what the big deal” is.
Do you need ongoing supplies to continue enjoying this toy? Will you need a case for this new electronic device? Will you need new shoes to wear with this outfit? These are examples of questions that can reduce a DIMS SCORE®. We know kids don’t like these questions, but part of our job is to help young people reveal phantom costs when making seemingly small shopping choices, so we have to ask them. Most family arguments about money stem from kids just not fully understanding “what the big deal is” about a seemingly simple purchase. The DIMS SCORE® Calculator helps children fully appreciate all that buying an item or experience involves.
We want to point out that the weighting of these questions is such that their negative impact on a DIMS SCORE® is really very minimal. (Yes – some questions are worth more to us than others.) And please understand that we know items that can add cost to a gift, like cases for new electronics, can still be a good idea. Cases protect your investment. But our job is to help kids consider all the components of a purchase. And if you really don’t want to be walking around with a “naked” unprotected new phone, then the cost of that new phone’s case is relevant!
You’ll see all the math and thinking that’s been completed on the DIMS SCORE® report.
The beauty of our DIMS SCORE® reports, which youth can easily generate and share, is that they illustrate all the math and thinking that’s been completed – including every single DIMS SCORE® question answered. So when you receive a report, you’ll see exactly how the young person in your life arrived at the decision that what they want might make sense. Explain to your children or students that they can always elect to discuss a gift that didn’t generate a DIMS SCORE® of 8 or higher with an adult who cares about them. But usually, a DIMS SCORE® of less than 8 means important information is missing.
If you have any other questions, please write to us. User feedback genuinely helps us help people teach their kids to think before they buy. The habit of slow spending is a natural way for youth to discover that anyone can get and use (at first basic) financial information to improve their lives. Which is why we describe it as one of the best gifts today’s young people could ever get!
Click on the pink or blue buttons below to learn more about our approach to early financial education.
DIMS SCORE® Questions For Parents For Teachers
