Wednesday, 1 December 2010

An OMG moment

Suri Cruise gets a credit card!

A few people I know are up in arms about this news report. I googled it and Stuff seems to be the only syndicate to pick up on it SO I am guessing it is either a non event or really old news.

But I've been pondering about it today and I honestly don't think it's as bad as it sounds! For a few reasons:
  1.  We live in a cashless society - very few people carry cash with them. It's either eftpos or credit. 
  2. Children need to be taught how to handle money from a young age
  3. They need to be taught/given responsibility
  4. (I assume) Her purchases will be kerbed by a caring adult (parent or caregiver)
  5. (I assume) Her card has a limit.

Monkey is earning (slowly) his first $2 coin - (by going to the loo) which he will then spend on a little something at the local op shop (charity shop). At 2 he is aware of money and knows what it is and what it gets us. We are trying to teach him the value of money and the pleasures it can get us but also the need to save for some thing in the future. We are looking into an eftpos card for him for when he is a little older (maybe school age) We will guide his purchases but let him realise the consequences of buying everything you see and then not have money for anything else.

So here's my question for you on Suri's credit card: 

Is it actually all that different to giving your child $2 to go to the $2 shop?

In her world things don't cost $2 they cost $100s. She shops in Hamleys and Tiffany's while Monkey shops at Salvation Army and Warehouse. We can rant about spoilt brat and ruining her childhood all we like but it's her reality and her parents know it way better than we do and they have to be doing the best they can in their situation.

My hope is that one day Monkey will use his money to buy me a coffee - the way Suri bought her parents dinner.

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