Recent Divine Discussions

Saturday, January 19, 2008

Where did she get that from?

I gave my daughter her allowance this morning. I increased her allowance amount to $3 and decided to change up my approach at teaching her about money. Previously, I required her to put all of her allowance in her ATM bank. I have decided to give her the option of putting her money in her ATM or use it to buy anything she wanted.


I am so proud to announce that my baby decided to put $2 in her ATM and spend $1 on something she wanted.

But then she said something that about floored me. She asked me if I would give her a CREDIT CARD!!! WHY?? Because the $1 could only buy her limited things while the CREDIT CARD didn't have a limit and she could buy anything she wanted. I mean this 5 year old actually said that the credit card had NO LIMIT while her $1 did.


The only logical reason that I could come up with is my choice to use my debit card versus cash. The only time I really carry cash with me is when I take out money to give my daughter her allowance. And I believe she views my debit card as a credit card. So I explained to her the difference between a debit card and a credit. Debit cards accessed money that belonged to you while credit cards accessed money that didn't belong to you but belonged to the bank. And that whenever you use a credit card you would have to pay the bank back the money. And that if you didn't pay all of it back in time that you would be charged a penalty.

So why did sweet pea start grilling me on how many credit cards I used and why I had so many credit cards if I had to PAY to use it and why don't I just use my own money. It went on and on. And ya girl had no answers. Well no answers that a 5 year old would comprehend.

I was shame for about a full minute. Until I realized that a 5 year old shouldn't be grilling me bout my money and that my daughter had just entered the "why" phase. So I ended the conversation by saying that all she needed to know is that mommy had a handle on everything which seemed to sound good to her.



SingleGuyMoney said...

Wow - kids really do say the darndest things. That is scary that she had that mindset at 5 yrs old. Good job on not just letting it go and trying to explain the difference.

Velvet Jones said...

wow, a 5-year old? well pick me up from the floor also. dang. srsly? a 5-year old wanted a credit card and could tell you why. holy smokes.

Single Ma said...

Children are like little sponges. Don't miss a thing. And what you mean where did she get that from? Hmm, how did Juvenile say it - she get it from her mama! LOL

Emma said...

Your daughter ask such smart questions when she is 5, what will her questions be some years after? LOL

Dimples said...

@ Single guy

Wait till you have one. LMAO

@ Velvet

Girl. I was floored. I mean it just came out like it was a common everyday topic with her.

@ single ma

I am so shame. And she is so nosy too. LOL

@ Emma

I don't even wanna think about it. Nope, not for one second. LOL