On-line Banking – The New Apron String

I heard a radio program about how kids getting out of college today expect to move right in to a house the size of their parents’, have a nice car and a great job. (Not realizing that it took their parents 20 or 30 years to work for those things.) The man on the program blamed the parents. He said in our quest to make things easy on our kids and take care of them we are doing them more harm then good. We’re too ready to give them handouts and jump in to save them from themselves.

The kids grew up watching their parents spending freely and then began doing so themselves; first with their parent’s money and then with credit cards.

Some friends and I got into a conversation about our kids’ spending habits recently. I was a little discouraged when one, who’s twin sons that are several years older than Brittany, told me he still follows their online bank accounts just in case he needs to throw some money in to prevent an overcharge.

Does it never end?

He said he noticed that one son had charged a movie at the $1.00 Red Box Movie Rentals. The charge was for $26.95, so he said his son must have failed to return the movie and therefore bought it. (At twice what he could have bought it for new from Target.)

It seemed like everyone in the group keeps up with their kids that way. One dad rolled his eyes and said “My son had a $59.00 charge at McDonalds! Is that even possible?”

Another watched daily while his son was in Europe. Charges were fairly normal until he got to Wimbledon when there was a several hundred dollar charge. The parents were a little steamed until their son got home and gave them each a Wimbledon logo shirt.

I don’t really want to know what Brittany spends each day. Honest! But she has had a lot of overdraft charges in the past. And she also has been known to play the game, “I’m going to go ahead and charge this because I know this gas station doesn’t post their sales till the next day.” (A game she’s lost more often than not!) And we also have a vested interest, since she’s borrowed a fair sum from us that she still owes. Therefore John watches too and when I hear she’s bought a Coach bag MY eyes roll!

Maybe because of us keeping an eye on her spending and occasionally questioning her about some of the charges; she’s taken a second job to try to pay us (and her credit card) back a little faster. I guess she thinks that the sooner she’s out of debt to us the sooner we get our noses out of her online account.

The second job is a good thing. Not only for the extra money, but every minute she’s working means one less minute shopping!