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2 Bumps

Do you spend too much on your kids?

Retirement savings — or new iPods all around? How to keep them happy without mortgaging your future, excerpt from article By Jane Bryant Quinn.
Link to full article: http://lifestyle.msn.com/your-life/your-money-today/article.aspx?cp-documentid=25438563>1=32002

1. If your kid asks for something special, will you buy it today instead of waiting for a birthday or the holidays?

2. If you have children older than 7, do you purchase what they need or want without asking them to contribute from their allowance or earnings?

3. Do you grumble about your kids' cell phone bills but pay them anyway?



 
tasches

Asked by tasches at 2:04 PM on Nov. 19, 2010 in Money & Work

Level 48 (298,202 Credits)
This question is closed.
Answers (11)
  • No, not at all. I'm very careful with money, and also very careful not to raise a spoiled entitlement-minded child.
    aliceinalgonac

    Answer by aliceinalgonac at 2:19 PM on Nov. 19, 2010

  • My kids don't have cell phones, don't have ipods, don't have access to my credit cards, absolutely wait for a special occasion for a special gift, do not have rooms that have more toys than floor space, and I absolutely do care about if I spend too much ... not only is it about teaching financial responsibility, it's also about living with financial security.
    caseyandkids

    Answer by caseyandkids at 3:57 PM on Nov. 19, 2010

  • My answer is yes to two, but I don't spend too much on them. We stay well within our budget and have savings to back us up should anything happen to dh's job.
    missanc

    Answer by missanc at 2:10 PM on Nov. 19, 2010

  • Nope we have a strict budged and stick to it as well and also have a nice savings just in case.
    voni681

    Answer by voni681 at 2:16 PM on Nov. 19, 2010

  • We pay all our bills, add to savings, and spoil or kids a bit. They don't need to do anything except go to school and have respect for the family in order to be given gifts. And no, we don't necessarily wait until holidays to buy things. Our oldest son's Xbox broke so my husband took him to get a new one. We pay for cellphones because we want them to have them. Etc etc.
    If any of this was preventing us from paying bills and saving then we wouldn't do it.
    Orionsgirl

    Answer by Orionsgirl at 2:21 PM on Nov. 19, 2010

  • 1. If your kid asks for something special, will you buy it today instead of waiting for a birthday or the holidays?
    more than likely no. It depends on what it is though and if we have the money. If it is only a coule dollars maybe more than that no.

    2. If you have children older than 7, do you purchase what they need or want without asking them to contribute from their allowance or earnings?
    my oldest is 5.5, but now and even at 7 not what they want, but what they need. Clothes, food things they actually need.

    3. Do you grumble about your kids' cell phone bills but pay them anyway?
    my kids are only 5.5 and nearly 3 and I will not buy them cell phone until they are way older and even if I do they have to at least pay half the bill with a job or allowence money.

    CONTINUE
    mommy5409

    Answer by mommy5409 at 2:24 PM on Nov. 19, 2010

  • 4. Do you feel you have to throw big birthday parties because that's what other families in the neighborhood do?
    no, but I do invite the whole family on both sides.

    5. In the kids' rooms, are there more toys and belongings than empty floor space?
    all their toys are in the livingroom and they actually don't have all that much for 2 kids

    6. Do you let your kids shop with your credit card without setting any limits?
    my kids are 2 young now, but they wont now or ever shop with a credit card and the money they do get they have to earn.

    7. Do you spend much more freely on your children than you do on yourself?
    yes and no. I get what they need, but not what they want and everytime it comes to me getting something it always seems they need something else lol
    I don't care if I spend to much really I look at it is they are only going to be little for a short time.

    mommy5409

    Answer by mommy5409 at 2:26 PM on Nov. 19, 2010

  • Nope! Not at all but I know lots of people that do
    maybaby22

    Answer by maybaby22 at 6:07 PM on Nov. 19, 2010

  • We are frugal but do splurge every now and then. Our son occasionally will get something even on non-special days.
    Mom2Just1

    Answer by Mom2Just1 at 8:51 PM on Nov. 19, 2010

  • I do spend to much on my kids. No 4,5,7. that what I actually do!
    joysweet

    Answer by joysweet at 12:51 PM on Nov. 20, 2010