then I must have been a genius at 9 because I got an overcharge of like $10 on my phone subscription at about that age and when my dad told me I was mortified at what I had just done
My parents would never tell us what the money situation is, which is both a curse and a blessing. They would just say there was no money for it so I didn’t understand the concept that well. Took high school to learn about balancing checkbooks and such to fully comprehend what they were saying.
I think parents should have a talk to their kids about finances in general though, not the nitty gritty, but understand how much goes into X to ensure Y. To find out the real value of a dollar in a more tangible way so they know, when mom and dad say they have $1K at the end of the month, that’s a hard cap, and they may soft cap it to keep savings for emergencies.
This post is making me realize the position I’m in and how I got here.
My seven year old has my old switch, and uses that account. He always asks before buying anything and has never bought anything without permission. But he uses my Nintendo account, which is linked to my PayPal, which is linked to my credit card.
This card used to have something like $7000 limit. Last I checked though it’s at 32k limit. I should probably set some kind of spending limit just in case on this setup.
The child is 9 be realistic
then I must have been a genius at 9 because I got an overcharge of like $10 on my phone subscription at about that age and when my dad told me I was mortified at what I had just done
My parents would never tell us what the money situation is, which is both a curse and a blessing. They would just say there was no money for it so I didn’t understand the concept that well. Took high school to learn about balancing checkbooks and such to fully comprehend what they were saying.
I think parents should have a talk to their kids about finances in general though, not the nitty gritty, but understand how much goes into X to ensure Y. To find out the real value of a dollar in a more tangible way so they know, when mom and dad say they have $1K at the end of the month, that’s a hard cap, and they may soft cap it to keep savings for emergencies.
This post is making me realize the position I’m in and how I got here.
My seven year old has my old switch, and uses that account. He always asks before buying anything and has never bought anything without permission. But he uses my Nintendo account, which is linked to my PayPal, which is linked to my credit card.
This card used to have something like $7000 limit. Last I checked though it’s at 32k limit. I should probably set some kind of spending limit just in case on this setup.
yes…please. Before you get a legal battle or some stuff like that on your hands…