Mums and dads always like to treat their children with the luxuries their own parents couldn’t afford for them when they were younger, but has the manic gift-giving and bribing reached the point of no return?
If you say ‘yes’ for so long, how then can you turn around and say ‘no’ to a child?
Bribery and encouragement for doing homework were two reasons why parents said they were shelling out over €600 on their mini broods every year.
Rather than waiting until their children had ‘earned’ the privilege of being treated to something new, six in ten British parents admit to buying their children the latest trends and collectables as soon as they ask for them.
We’re wondering what the story in Ireland is. Do Irish parents have the same mentality as our British counterparts?
Seventeen per cent of those surveyed said they didn’t want to disappoint their children when they are under peer pressure at school to have the best of everything. Can this mentality still hold such a strong grip with parents in the depth of a recession?
Tracy Fletcher of Skipton Building Society, which carried out the research, told the Daily Mail; “Parents are naturally concerned about their children having strong friendships, and feeling part of their peer group both in and out of school.
“And if they think they can help the child become more popular, they will.
“Unfortunately, this seems to mean spending endless amounts of money on playground crazes, collectables, latest trends in fashion, and gadgets.
“This instant gratification could have consequences in the future though, as children will grow up without grasping the real value of money, or learning how to manage it effectively.”
This is completely true. Teenagers will be wondering why they have to get a part-time job to fund their social life if their entertainment had been paid for so easily all along. Young adults will not experience the gratification in saving and then buying a new pair of shoes or even a new car. Why should they save to buy it if everything else had just been purchased for them on a whim with a quick type-in of a credit card number?
The study revealed parents of children aged five to nine are most likely to buy Ben 10 toys, football stickers and Lego.
Kids aged ten to 12 will be asking for Xbox and PS3 games, gadgets, magazine and football boots while those aged 13 to 15 expect to be treated to iPhones, iPads, mobile phones and computer games.
Six in ten parents admitted it is really important to them that their child ‘fits in’ with their friends.
This is important to all parents, but is it not more important for your child to learn the value of money?
