Moms Talk Q&A

Welcome to Moms Talk Q&A! This week's question:

My daughter wants a really expensive toy, my husband wants to buy it for her, but I think we should make her save for it.  What is your advice?

Jennifer Davis:

I agree with you, sorry dad.  I think having your daughter save for the toy will teach her several things, one, being that you don't always get what you want without a little perseverance, two, your teaching her to save, three, she maybe more apt to take care of her expensive toy.  Or you could always meet her halfway and tell her when she gets to x amount of dollars you will match it.  I think you can both use this as a great learning tool! Good Luck!

Terri Peters:

I tend to be the parent in our marriage who spoils our kids too much.  I love shopping and I love receiving presents, so it's definitely an issue I always try to keep in check.  I don't want my children to be materialistic or to expect gifts all the time, so I try to find a fine line between buying nice things for them and making them work for the things they want.  Since this is such an expensive item, I'd say making her save for it is a great idea.  Perhaps this is a good time to start a chore chart for her and let her earn an allowance.  I understand your husband's desire to do something nice for his little girl, but try to explain to him the benefits of also teaching her to work for some things.

Angee Fielder:

I'm in agreement with Jennifer on this one.  You should definitely make your daughter save for it.  However, if you feel the need to compromise with your husband you could always let him secretly buy the toy and use the money that your daughter saves for it as a form of allowance credit.  It will teach her how to save for what she wants immediately while incorporating the element of having a rainy day fund.  After your daughter saves the money you and your husband could talk to her about how it felt to work towards getting that toy and how it feels to have a savings in tow.  Believe it or not, you and your husband can provide your daughter with many poignant lessons on financial literacy simply from the scenario that you've presented.  Good luck!