Kids and Christmas

[Adam West]

For those of you with kids; I was wondering if anyone experienced the same thing I did this Christmas which is that kids have no concept about money.

It is a bit surreal for me. I already said in my pinball thread that I grew up in poverty but my parents were very generous at Christmas. I never felt poor but going out to eat at McDonalds was such a treat for me; I would have given it Zagat's highest rating (if I even knew what Zagat was at the time).

I have been blessed with having a standard of living above my parents and exceeding my own initial expectations (but I don't feel guilty....I have worked hard to be where I am at right now). We really don't talk about money in our house but I realized (this year especially) that my kids have no concept at all. We live in a middle class neighborhood. I looked over my kids' wish list and there were items ranging from clothing from Abercrombie and Fitch to the latest iPod touch!!! My kids are now teenagers and tweeners so this was the first year we received a detailed list and quite frankly I was disgusted. My kids are not snobs at all; this is in line with what their friends ask for and receive at Christmas. For the first year; we set a monetary limit and told each one of them the limit and to give us a wish list in line with the limit. It wasn't due to financial issues...just trying to teach them the value of a dollar.

Is it just me or is this going to be the first generation of kids that are in for a rude awakening? I will ask them if the want to go to Mickey D's and they thumb their nose and ask to go to Panera Bread. I would like to think my kids are alone but they aren't. Most kids have cell phones, laptops, mp3 players, etc. that are better than what I own (I don't even have an mp3 player!). You can walk in our local Goodwill shop and purchase Levis, Aeropostale, Abercrombie and Fitch, Ed Hardy jeans (occasionally), Hollister, Lacoste, and other brand names for next to nothing. I have an employee working for making a 1/4 of my salary and he drives the same make and model of car that I drive only his is a newer model (which is a Toyota Highlander)....nothing really fancy but it is crazy. The guy is in his 20's, lives at home with his parents, and his salary is completely discretionary.

Sorry to rant but I am really worried about my kids generation. I really do think we may be the last generation who are as well off or better than our parents.

Thoughts?

[babycyclops]

I think the selling and marketing of iphones etc to children and teenagers is one of the most ridiculous and wasteful aspects of our culture. Add to that their planned obsolescence
and it's plain to see what a waste of time and resources portable devices have become.
I'm not against the tech, just think that pushing these products and the necessary bandwidth to use 'em onto kids is a scam.

[LadyZod]

I see this all the time with both teenagers and recent immigrants in Miami. Most don't have two nickles to rub together, but they have an iPhone. *I* don't even have an iPhone, and I work for a living.

It's the American dream as seen on television.

When my parents first came to this country in the early 70's, the American Dream was a dream of opportunity. It was a dream of everyone being equal (whether true or imaginary); it was a dream of *HAVING* the chance to succeed. It wasn't guaranteed. You had to work for it, and you could achieve it.

I grew up with my father having two jobs to make ends meet, playing with chinatown knock off toys, or clearanced toys sold at outlets... but I never *felt* poor.

And the American Dream my folks had continued onto me. Their dream was simple: make sure their kids had it better.

I did have it better than they did as children. And in return as I've become an adult, I'm doing a little better than they did as adults, in small increments. I have a college education (my folks didn't even go to high school!), bought my own house much earlier in life than they did. We have 3 cars as opposed to sharing 1... etc.

The current generation of kids didn't see their parents struggle during the 70's or the economic rebound in the 80's. They have no idea what it was like to have to wait 2 yrs for a recent movie to come out on video so you could *rent* it. Heck half of them don't remember a dial up connection to the internet, much less the world without the internet.

Instant satisfaction, and TV showing them how easy it is to be rich...

Rude awakening? Maybe. Or maybe their generation will fall deeper in debt faster than ours.

[Sandman9580]

Rude awakening? Maybe. Or maybe their generation will fall deeper in debt faster than ours.

That's what scares me. Sometimes I think credit cards should just be made illegal.

[HardyGirl]

One thing I have noticed about the kids today is that most of them don't get or have never even heard of an allowance. Most parents just give their kids money. A know a lot of people say, "I don't pay my kids to clean the house, they live here and should do that anyway." But an allowance is more than just paying your kids for doing household chores. It's teaching them the value of money. If they spend it all on one thing, they learn that there will be no more money coming until the next week. They have to learn to budget their money. If they really want something that cost a lot, they SAVE their allowance to get it, not beg Mom and Dad for it. And if they don't do their chores, they get docked, just like in real life if you don't do your job. An allowance gives kids a taste of what life is like in the real world. Once they get old enough to babysit, or walk dogs or have a paper route, the allowance usually disappears, as now they have a job and really earn their own money.That also teaches them a work ethic. Shoot, I bought all of my back to school clothes as a teenager, (and if I wanted the latest this or that, I PAID for it).

I think in this way, kids will learn the value of a dollar.

[SlipperyLilSuckers]

I find this with my nephews sometimes. I have been trying to teach the 7 year old that some things cost a lot, and that he must save and wait. It's hard not to smile when he gets his piggy bank to buy a Mego or action figure. He is slowly starting to learn.

[TEXASFETT]

Times are changing very quick and to see kids with these things.....its crazy but technology is unbelievable nowa days! Sometimes its best to be old fashion thats the way I was brought up,and will continue to do the same to my son. Okay so I gave my son his first mustang powerwheel and he's three.

[Mikey]

I think part of the problem is our Gen-X generation ...

WE play video games, read comics, collect toys and must be up on every new thing that comes out.

Back in the day, our parents were never like that.

Our generation basically never grew up --- and that rubbed off on today's kids.

[Nostalgiabuff]

my kids get allowance for doing chores. it teaches them the value of doing work for pay and also that if they want something they have to save up for it. I think a lot of kids do get money hadned to them by parent, i saw it even when I was growing up. we were not poor but there was no extra money to go around either. now that my kids are gettign older, they do tend to ask for more expensive items for Christmas....the ipods, cell phones, etc...but we have always set a limit on shopping and in fact the last few years have even toned down on how much we spend.

[kingdom warrior]

Rude Awakening. Without a doubt. sadly this generation may be the first generation that may see itself get nuked.
"IF they don't get their act together".

Look at what is marketed to them they are taught to be consumers and gadget collectors, not innovators and inventors and leaders.....ask them about current events and they have no clue.

They want YOU to answer hard questions for them instead of learning what it takes to be a critical and logical thinker.

Their heroes are spoiled musicians and sport stars and reality stars. who make more money than many will ever see in their lifetime and are easily BORED with anything. they want something new all the time. and when something new comes they will discard in within months to get the newest version.

They have Facebook accounts and TWITter accounts and it's laughable what is posted by them.

This generation has no concept of history sit with them and it's almost shocking what little they know of what's come before. I remember how as soon as I got into something how i wanted to know the history of anything I was into. this generation just doesn't care enough to want to know.

My son HAD no concept of how the laundry was done or how to go and make himself breakfast.
I gave him a rude reality check. now he can do his laundry because neither I nor my wife will do his laundry, and make himself something to eat in the morning...I mean seriously what does it take to get your self cereal in the morning

I learned at eleven years old to do my own laundry and during the week to make my own breakfast ( I was a latch key kid) My parents got us up to go to school but my sister and i had to the the rest on our own.

Something her and I grew to love because we felt independent and trusted by our parents.

This year he gets the Job reality treatment. I set up a bank account so that he can deposit his money and learn to save. I gave him a seven year plan (he's 14) for putting away money. If you put away this amount this is how much you will have.

I made it clear to him. I'm not buying his own car that he'll have to do on his own by working and earning it for himself.

The problem I have seen is this. many parents are guilty of trying to extend their child's childhood far too long.

Teaching responsibility is KEY to a child's growth into an adult.

My son has no access to facebook nor the internet unless He needs something for school.

Yes he has a phone and yes he does text a little. I encourage him to call his friends to learn to verbally and socially communicate with people. something I clearly see this generation is starting to lack in people and social skills.

and I do have him sit with me to see the news and what's happening politically in the world. and NOT one view.

I agree our generation has caused this, many have not grown up. But those of us that did. know the difference when to play and when to stop and get to work. I'm hoping that there are still MANY of US still left to save from a very bleak future......

[UnderdogDJLSW]

Working at a college, I honestly think things are not as bad as it seems with the younger generations. It is just that we have instant communication and hand held devices that we see the bad and ugly a lot more than the good. For every kid I see that seems to not have their act together, I see at least two that are being frugal or up on current events, etc.

My two kids have no concept of money right now and that is not for lack of my wife and I trying. The 2nd grader can add coins, and do math work, but the concept of and consequence of "not having money" isn't there. I look back to my thought patterns when I was that age and even though my family struggled a bit, the complete concept of money and its consequences wasn't there for me either. I'm not worried because I grew up to know when I can buy a toy and when I cannot, as a parent, I just need to keep on guiding.

[BOTZWANA]

That is why I don't have kids. I hate the things!