Buying dumb things using allowance money
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From: Ignoramus15568 on 17 Feb 2010 13:38 My son, who is 8, is getting an allowanca and has accumulated some money. Now he wants to buy something that is, in my opinion, a complete ripoff, which is a pack of "Club Penguin Trading cards". He wants me to buy them online and he would repay me in cash. The deal is $49 for a pack of 50 cards. (!!!!!!!!!!!) My first instinct was to just refuse to do so, but now I am having my doubts. The cards are not really harmful (as would be if he asked me to buy cocaine for his money, for example), they are just a dumb way to spend money. But maybe this is his prerogative to do with his money as he sees fit, as long as no harm is done. On the other hand, if, say, he would want to participate in some kind of fraud, like a pyramid scheme, I would be right to refuse. These cards are just one step away from fraud, so maybe the refusal has merit. Thoughts? i i
From: gmbeasley on 17 Feb 2010 15:09 On Wed, 17 Feb 2010 12:38:59 -0600, Ignoramus15568 <ignoramus15568(a)NOSPAM.15568.invalid> wrote: >My son, who is 8, is getting an allowanca and has accumulated some >money. > >Now he wants to buy something that is, in my opinion, a complete >ripoff, which is a pack of "Club Penguin Trading cards". He wants me >to buy them online and he would repay me in cash. The deal is $49 for >a pack of 50 cards. (!!!!!!!!!!!) > >My first instinct was to just refuse to do so, but now I am having my >doubts. The cards are not really harmful (as would be if he asked me >to buy cocaine for his money, for example), they are just a dumb way >to spend money. But maybe this is his prerogative to do with his money >as he sees fit, as long as no harm is done. > >On the other hand, if, say, he would want to participate in some kind >of fraud, like a pyramid scheme, I would be right to refuse. These >cards are just one step away from fraud, so maybe the refusal has >merit. > >Thoughts? > Not fraud - just overpriced. And even if it was something like those book club things that you can't get off the list once you buy the initial 5 books - this is a good time to learn that lesson while you are there to back him up. I didn't find out about those things until I was newly married without much money. I would have him buy them though. Not do it in your name.
From: Betsy on 17 Feb 2010 16:23 Ignoramus15568 wrote: > My son, who is 8, is getting an allowanca and has accumulated some > money. > > Now he wants to buy something that is, in my opinion, a complete > ripoff, which is a pack of "Club Penguin Trading cards". He wants me > to buy them online and he would repay me in cash. The deal is $49 for > a pack of 50 cards. (!!!!!!!!!!!) Is he wanting them for the online game codes? Do you have a reasonable limit for his online time? > My first instinct was to just refuse to do so, but now I am having my > doubts. The cards are not really harmful (as would be if he asked me > to buy cocaine for his money, for example), they are just a dumb way > to spend money. But maybe this is his prerogative to do with his money > as he sees fit, as long as no harm is done. If these are what he has spent a long time saving up for, it seems reasonable to allow him to get them. If it is a brand new idea, maybe giving it a little time to simmer, and looking at other things he has been saving up for would make sense. > On the other hand, if, say, he would want to participate in some kind > of fraud, like a pyramid scheme, I would be right to refuse. These > cards are just one step away from fraud, so maybe the refusal has > merit. It isn't how I would spend my own money, but lots of people seem to be happy with them. If it will lead to more gaming than you allow, then you may have a good reason to limit them. As a parent, you have the right and responsibility to limit how your children spend their money. I don't think I will have my 8 yo asking for these because his allowance is not that large and his experience is limited enough that he hasn't encountered them. --Betsy
From: Lenona on 17 Feb 2010 16:53 Seems to me that kids who get small allowances - or none - and are forced to work extra chores to earn the extra money they want, are more likely to think twice before spending. That's how Amy Daczyzyn, author of "The Complete Tightwad Gazette," raised her six kids; they didn't get ANY allowances, and they learned early not to make purchases they might regret, since they had to do unpaid chores and then work extra chores if they wanted money. Whereas a neighbor of hers held a yard sale, and the neighbor's kid was there too, selling all his outgrown, expensive G.I. Joe items.....for pennies. There were a LOT of items, IIRC. Clearly, it wasn't exactly a positive experience for the observing parent. Lenona.
From: Welches on 19 Feb 2010 08:03
"Ignoramus15568" <ignoramus15568(a)NOSPAM.15568.invalid> wrote in message news:OLCdndzb5pNequHWnZ2dnUVZ_oqdnZ2d(a)giganews.com... > My son, who is 8, is getting an allowanca and has accumulated some > money. > > Now he wants to buy something that is, in my opinion, a complete > ripoff, which is a pack of "Club Penguin Trading cards". He wants me > to buy them online and he would repay me in cash. The deal is $49 for > a pack of 50 cards. (!!!!!!!!!!!) > > My first instinct was to just refuse to do so, but now I am having my > doubts. The cards are not really harmful (as would be if he asked me > to buy cocaine for his money, for example), they are just a dumb way > to spend money. But maybe this is his prerogative to do with his money > as he sees fit, as long as no harm is done. > > On the other hand, if, say, he would want to participate in some kind > of fraud, like a pyramid scheme, I would be right to refuse. These > cards are just one step away from fraud, so maybe the refusal has > merit. > > Thoughts? Basically it's his own money so I'd say within any limits you've already set he can spend it. But my initial thought (translating into �) is how much pocket money does he have? My 9yo would have to be saving up for over 6 months to get that amount. Me and my husband were discussing last night how our children spend their money. #1 (age 9) spends very little on herself. She buys things for friends, presents for family and puts the rest in whichever charity box she's got at the time. #2 (age 6) tends to spend her money on odd junky things that give her immediate pleasure but have no lasting value. Debbie |