"If your parents buy you everything, you will never appreciate the value of money." Watch

EloiseStar
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So I was on good old Facebook :rolleyes: recently and somebody posted a rant along the lines of "If your parents buy you everything, you will never appreciate the value of money...". They basically moaned about parents buying their kids cars and such and argued that those kids will never learn the value of money.

Honestly, I was offended. I do not have everything bought for me but my parents will if it's not beyond their means, my dad justified it as he just wants to give me more opportunities than he did growing up, and it hasn't ruined me, I am aware of the value of money, I'm not wasteful etc.

I was wondering how others feel about this? I think the comment made on FB was a wide (and wrong) assumption.

"If your parents buy you everything, you will never appreciate the value of money."Discuss.
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RF_PineMarten
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It certainly makes sense. But it doesn't mean parents shouldn't buy their kids stuff. It means don't buy your kid everything they want.

Buying young kids stuff for Christmas, birthdays, or as a treat because of e.g. good performance in school or something is a good idea. But caving in to every demand they make will definitely ensure they never appreciate the value of money - because they get pretty much everything they want when they want it. You say your parents got you stuff if it was within their means, but to me it doesn't sound like you got everything you wanted.

Buying kids cars when they're old enough is certainly a good thing and I don't see how people can complain about that - what teenager can afford a car when they pass their test? And most teenagers need cars for university and for finding work, it's not usually a luxury you can easily do without. My grandparents bought me my first car for £3000 but I paid for a new laptop out of my savings (£500 out of just over £2000).

I'd say it can have that effect, but obviously some people exaggerate it to ridiculous proportions.
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Yeah dude
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Agreed, no more college kids in mustangs


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Le Nombre
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It has that effect to an extent. I know I'll spend money on a night out that my mates from less well off backgrounds won't, similarly my mates from better off backgrounds think little of dropping amounts I wouldn't contemplate.
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Tarte Tatin
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People love to share their pointless, shallow opinions on Facebook, mostly to put others down and feed their own egos. Maybe in this case they didn't mean to offend anyone and I kind of see where they're coming from, but it's not the whole truth and it's quite a simplistic thing to say. The best thing to do is ignore it.
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BefuddledPenguin
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I was raised in relative poverty, and I'd argue that I'm worse with money, because I've never really had any money, I've spent a great deal of time being really unhappy because I can't enjoy certain things, so on the rare occasions when I actually have any money I tend to go mad. When I was a student I spent £144 on a watch I liked, just because I had never been so wealthy.
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TimmonaPortella
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(Original post by Le Nombre)
It has that effect to an extent. I know I'll spend money on a night out that my mates from less well off backgrounds won't, similarly my mates from better off backgrounds think little of dropping amounts I wouldn't contemplate.
If that's true it would suggest that people value money as they saw people value it when they were growing up, rather than on the basis of how much their parents spent on them personally. I'm sure those factors correlate, but they're not the same thing. If they were, you'd expect your friends from less well off backgrounds who were relatively spoiled to spend more, etc.
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Le Nombre
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(Original post by TimmonaPortella)
If that's true it would suggest that people value money as they saw people value it when they were growing up, rather than on the basis of how much their parents spent on them personally. I'm sure those factors correlate, but they're not the same thing. If they were, you'd expect your friends from less well off backgrounds who were relatively spoiled to spend more, etc.
Yeah, I think it's as much just the security of it.

I know there will come a point where my liabilities are such my parents can no longer bail me out, I am not there yet but some friends are. By contrast I have other friends who are unlikely to ever reach that point (or have trust funds which guarantee they won't) and so spend in a totally carefree way.
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xDave-
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It's just envious people whining. What people do or do not buy for you doesn't affect your understanding of money.
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Rakas21
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I agree.

While i aim to do my best to provide my child with all the advantages they can get in life such as a superior education, i fully intend to limit the pocket money and make them do chores for it.

(Original post by BefuddledPenguin)
I was raised in relative poverty, and I'd argue that I'm worse with money, because I've never really had any money, I've spent a great deal of time being really unhappy because I can't enjoy certain things, so on the rare occasions when I actually have any money I tend to go mad. When I was a student I spent £144 on a watch I liked, just because I had never been so wealthy.
Coming from a benefits background myself i don't have an issue controlling my spending however going from rarely having pocket money to having just a few hundred pounds from my first part time job at 16 was enough to make me drop out of sixth form and work for a few years, such was the joy i got from having financial freedom.

(Original post by RFowler)
It certainly makes sense. But it doesn't mean parents shouldn't buy their kids stuff. It means don't buy your kid everything they want.

Buying young kids stuff for Christmas, birthdays, or as a treat because of e.g. good performance in school or something is a good idea. But caving in to every demand they make will definitely ensure they never appreciate the value of money - because they get pretty much everything they want when they want it. You say your parents got you stuff if it was within their means, but to me it doesn't sound like you got everything you wanted.

Buying kids cars when they're old enough is certainly a good thing and I don't see how people can complain about that - what teenager can afford a car when they pass their test? And most teenagers need cars for university and for finding work, it's not usually a luxury you can easily do without. My grandparents bought me my first car for £3000 but I paid for a new laptop out of my savings (£500 out of just over £2000).

I'd say it can have that effect, but obviously some people exaggerate it to ridiculous proportions.
I'd actually disagree with the car. Since most people don't live in rurality there's very little need for a car over public transport (indeed government schemes often mean its much cheaper) and most people live in the university city. I shan't be buying my own children a car until they work full time.
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Eboracum
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Agree with the statement as well. The silver spooners will one day have to fend for themselves.
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Clip
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People who go on and on about the monetary value of stuff are so boring. They end up bean counting all the time, and suck all the enjoyment out of everything.

You go somewhere nice and they're all on about how the same thing is cheaper down the road.
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(Original post by Eboracum)
Agree with the statement as well. The silver spooners will one day have to fend for themselves.
And there's nothing to suggest that being born into privilege makes people less self-sufficient. If anything, the opposite is true. I can think of people from families of modest means who were relatively spoilt by their parents, and totally unable to fend for themselves. I know plenty of boarding school girls who had ponies etc, who can look after themselves just fine, manage their money and just get on with it.
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lucaf
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If your parents buy you everything you certainly won't appreciate the value of money, but that doesn't mean they shouldn't help you out. I do find I started to appreciate money more once I started earning it for myself, you become more conscious of your spending when you think in terms of how much work you would need to do to afford it.
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One could make the same argument about taxation.

"If you don't pay any tax, you will never appreciate the value of money"
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Bria331
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(Original post by EloiseStar)
So I was on good old Facebook :rolleyes:
"If your parents buy you everything, you will never appreciate the value of money."Discuss.
A more interesting point is what is the value of money? If the economy collapsed (beyond a recoverable point) money would have no value as you can't eat it, people spend years earning money for it to be stolen or given to a care home because they now need to pay their way through care home and in the end, the truth is, we die. I don't want to spend my life determined to earn money (obviously I need enough to live) but things like the latest fashion outfits...what is it worth? Being Happy, seeing amazing things and inspiring people I think is much more important that a piece of paper. Thoughts?

Back to the original point my parents gave me pocket money when I was little for doing a chore such as making sure my room was tidy or laying the table etc. Personally it taught me that yeah I could blow all my money on something pointless or I could save any buy myself something I wanted and would use.

Ok so my Grandparents will buy me a car as a gift and my parents will finance the minimum petrol which will just cover me to college and back. Also my parents will probably help fund University but I will still get a part time job and contribute so they don't have to as much. I will still feel a little bit guilty for needing my parents support when I could be working full time and paying my way but they see it as a gift and investment. Sure some kids don't understand the value of money but you can still provide for your children without losing the value of money.

(sorry it is sooo long )
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The_Last_Melon
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Here's an argument in favour of your friend:

1) Your parents buy you everything
2) Therefore you do not gain experience in spending.
3) No experience in spending means you do not have a memory of items and their prices unless there is some other way of acquiring it.
4) Having no memory of items and their prices means you will not be able to compare what you want to buy with what you have bought, which is a way of determining whether a price is reasonable.
5) Therefore you will lack a way of knowing whether the price of what you want is reasonable.
6) Therefore you are more likely to waste money.

Here's a counter-argument:

1) Being bought things that you want gives you the satisfaction of possessing items.
2) Possessing items allows you to do things with them.
3) Doing things, like experiment, enables you to develop skills.
4) Therefore, if you were not bought things and there is no other way of acquiring them then you would not develop skills that derive from possessing the items of your desire.

Example: If you did not own car then you would not be able to drive regularly and so would never develop that skill.

These arguments need work so if you are interested in philosophy then please help me develop them.
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tania<3
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I agree with the statement to an extent as well
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TheNoobishKnight
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(Original post by The_Last_Melon)
Here's an argument in favour of your friend:

1) Your parents buy you everything
2) Therefore you do not gain experience in spending.
3) No experience in spending means you do not have a memory of items and their prices unless there is some other way of acquiring it.
4) Having no memory of items and their prices means you will not be able to compare what you want to buy with what you have bought, which is a way of determining whether a price is reasonable.
5) Therefore you will lack a way of knowing whether the price of what you want is reasonable.
6) Therefore you are more likely to waste money.

Here's a counter-argument:

1) Being bought things that you want gives you the satisfaction of possessing items.
2) Possessing items allows you to do things with them.
3) Doing things, like experiment, enables you to develop skills.
4) Therefore, if you were not bought things and there is no other way of acquiring them then you would not develop skills that derive from possessing the items of your desire.

Example: If you did not own car then you would not be able to drive regularly and so would never develop that skill.


These arguments need work so if you are interested in philosophy then please help me develop them.
What if you use someone else's car and drive regularly such as a parents?
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The_Last_Melon
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(Original post by TheNoobishKnight)
What if you use someone else's car and drive regularly such as a parents?
I would call that dual ownership regardless of the legislation. I think when you use something you become a surrogate owner of it.

But that is just nonsense to protect my argument. You are right.
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