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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Mine does this too but I am letting it go for now because his 'overspending' is social activities. I can afford it and I don't want him missing out just to teach him financial lessons, which he basically knows.[/quote]

Then you’re setting your kid up for a lifetime of not being able to budget and live below his means. Once he’s on his own he will expect a certain lifestyle and entertainment budget will be a huge part of that.

We should be teaching the kids, not coddling them. This is why the younger generation can’t afford real estate. Prices are high, sure, but they grew up going to Starbucks all the time with mom and Zavazone with dad every time he doesn’t know what to do with them. [/quote]

I had this in college and I’ve always been fine, not least because if you have a debt free college education, it should be pretty easy to slide into a good paying job and be able to live with some sort of entertainment budget in perpetuity. And it was. Tada! I don’t really care if I’ve maximized my avocado/latte/trampoline park savings along the way because I’m on track for my goals and happy with my life. Living in a crappy group home shared room and spending too much on “entertainment” were some of the most fun years of my life and I have no regrets…about finances. I remember once picking up a group dinner in the glow of some dumb minor promotion and then counting toilet paper squares for a few weeks to get to the paycheck. I remember it FONDLY.

I think people mainly get into credit trouble because they have a shopping, gambling, or substance addiction or they have low earnings and fall on hard times. I lucked out of the first half and by college, I was basically clear of the second anyway.  [/quote]

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