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.
Annnddddd.......................
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.
WOW!!!!! WHERE DA HECK DID SHE GET THAT KIND OF THINKING FROM??
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.
LOL
Annnddddd.......................
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. WOW!!!!! WHERE DA HECK DID SHE GET THAT KIND OF THINKING FROM??
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.
LOL
Comments
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