Sharing Daily Discoveries About Personal Finance And Business Topics

Getting Your Child To Pay Half For An Expensive Christmas Gift

I thought this was kind of interesting as today I learned that my brother wanted to get his son a Nintendo Wii U as a Christmas gift. However, that system is pretty expensive at about $300. So apparently what happened is he told his son that if he wanted that system he would have to put in $150 of his own money and he would pay for the rest. He enthusiastically agreed to do so.

This really made me curious if this would make a child more financially literate where he is probably going to treat the system with more care now as he knows that he invested $150 of his own money into this thing. At the same time, is it weird to make children understand the value of money in situations like this since traditionally this type of occasion is just about showering people with gifts in which you surprise them with?

When your child receives a gift for example do you try to educate them the dollar value of it in hopes that they will be more grateful and at the same time recognize it takes actual work to get money to buy these items?

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