Tommy: Are we spending too much on our kids?
A new report says prom spending is down this year, but it’s still averaging almost $1,000 for the big occasion. Almost a grand. Seeing that number for one dance made me think: are we parents spending too much on our kids? If the sky’s the limit…how will they ever come down to earth and learn to earn?
To answer that question, I spoke with Dr. Jim Taylor, a renowned psychologist and author of books on parenting such as Positive Pushing: How to Raise a Successful and Happy Child and Raising Generation Tech: Prepare Your Children for a Media-fueled World. He spoke of moderation and balance.
“These days, with some of these birthday parties you hear about on TV that are so excessive, they teach kids a pretty unrealistic view of the world. Sure, if you have tons of money and want to spend it that way, that’s your choice, but a lot of people don’t. So they give their kids experiences at the expense of, well, expense…So parents need to balance out, yes we want to give our kids these experiences because you only have childhood once. But another important part of childhood is preparing for the real world; and in the adult world, kids can’t have everything they want. Money doesn’t grow on trees.”
FULL AUDIO: Tommy talks to Dr. Jim Taylor about not spoiling your kids
That’s what the expert thinks…but what do YOU think?