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Don't spend so much money on cereal for your children just because they want the name-brand, more expensive stuff. Instead, keep the boxes from the expensive cereals, and start filling them with store-brand cereal. As long as the box looks right, your kids probably won't be able to tell the difference.
I love the idea! It's a great way to save money and let your kids have what they want. If I start this early enough, she won't even realise I am sneaky until her teenage years :)