Does Spending a Lot of Money Make You a Better Parent?

This week I was trawling one of my favorite message boards and noticed a thread on whether or not a child should have an expensive cell phone and, if so, should it be given as a gift for a big occasion, bought with the child’s own money, or just purchased outright by the parents. The first few respondents tried to be diplomatic, offering reasons for and against the purchase and offering less expensive alternatives. Predictably, however, before the first page was finished the conversation devolved into a flame war over whether or not “good” parents buy expensive things for their kids or not. Are parents who buy luxury items like iPhones, Coach handbags, $200 sneakers, and ne


[Continue Reading at]

This entry was posted in Debt, Personal Finance, Relationships and tagged , , , , , , , . Bookmark the permalink.

One Response to Does Spending a Lot of Money Make You a Better Parent?

  1. Miranda says:

    Great post! I agree that it is important to sometimes say “no.” This realization came when our son announced that we could “just buy a new one” if one of his toys broke.

    Now, with our son, we have him save up his allowance money (after tithing and savings) and contribute to expensive toys that he wants. We also talk about choices and priorities. And my husband and I have started talking about making money choices in front of him — and including him when appropriate — so that he sees that even mommy and daddy need to budget and set priorities. And sometimes even we don’t always get what we want.

Leave a Reply

Your email address will not be published. Required fields are marked *