Money Moral Dilemma: Should I let my son buy yet another toy with his birthday money?

gloriouslyhappy

An interesting dilemma! If I were the relative, I'd be happy for it to go into savings, spent on a day out, books, toys or an item of clothing he'd like. I'd be using 'toy' as shorthand and not necessarily expecting it to be spent on a toy or even right away, especially so soon after Christmas, and would be happy to get a little thank you note saying what the outcome was / will be. I'd be very impressed if the note said mum and dad discussed it with me and I'm putting it in savings for now!

But you must decide as you know your child and your relative best.

nosi

Why not save towards a bigger toy or something the child really wants.  It’s still going towards what the relative wanted and the child learns to save for something more expensive that they really want

Bonnypitlad

I recently transferred money to a child’s grandmother’s account “ please buy a gift for her” (I have no idea what a 6 year girl old wants)
When I next saw the girl, without any prompting she thanked me for the money and gleefully told me she had saved it “ I’m saving up to be a billionaire “
It has given me great pleasure 

CapeTown

Children these days have too much plastic tat, too many things and are generally rather spoilt. When I was a kid, I had about 3 toys and some Lego. I have a new grandson. I vowed when he was born to only buy quality toys that will be passed to his children or toys from a charity shop. I suggest you get your lad to do the same with his money. I have bought Brio, a classic rocking horse, and nice classic books that span the generations. Less is often more

Cherry751

They gave him the money so he could choose what he wanted to do with it.
I get cross when I send a child money and the poor child dies not even see it or have the decision as the parents automatically put it in the bank. I am giving the money to the child not the parent. It is the child's decision. 

SteveLaming

Oh for heaven sakes get real. He's six . It a oxy mormon. You cannot have enouth toys when you are six. Enjoy that he is able to also enjoy being six with no fears for the future.. There will be time to change his veiw on life. Don't impose adult fears for his future on him at this time. We are young such a short time.

hairywalrus

SteveLaming said:

It a oxy mormon.

Awesome. 

CapeTown

SteveLaming said:

Oh for heaven sakes get real. He's six . It a oxy mormon. You cannot have enouth toys when you are six. Enjoy that he is able to also enjoy being six with no fears for the future.. There will be time to change his veiw on life. Don't impose adult fears for his future on him at this time. We are young such a short time.

Yes you can have too many toys. Having lived in Africa, I have seen children with no toys at all. The obsession that the western world has with "stuff" is depressing. This is on a par with Martin Lewis posts about not wasting money on unwanted Christmas presents. Buy less but buy quality. 

scataudo

The relative gifted him a toy. He or she wants the child to choose a toy for himself so he can be sure he likes it, that's why they sent the money and not an actual toy. There's no dilemma here, you're over-thinking a very straightforward situation. Perhaps you could get him one toy fewer next year and bank the £20.

My son was terrible with his attitude to money and wasted birthday/Christmas money numerous times. He has learned from those experiences and now at 12 years old he questions the cost of everything, because that's how we've raised him. My daughter has always been naturally careful with her money but now at 14 would buy a £200 jacket (she'll refuse to wear in 6 months) if we let her. 

Besides, the rates you get from savings may mean the toy he buys may be worth more in 20 years' time!

squirrel59

I don't know - when I was six I already knew loads about saving money - almost as much as about spending it But my parents made it all fun and interesting and I learned. Listen, it's your son's money and he received it to buy a toy. But that doesn't mean you can't use this as a teaching opportunity and explain all the options he has. It's not a problem; it's a great opportuniy.