GorillaOffTopic, Everything But Gorilla Trades

The Gorilla, like many of you, remembers fondly losing his baby teeth as a child and the only good thing about the whole traumatic experience was the “the light at the end of the tunnel”; of course the Gorilla is talking about the tooth fairy putting that quarter or fifty cents underneath your pillow after you had gone to sleep. Recently, the Gorilla was appalled at hearing a story of a parent leaving their child a twenty dollar bill under his pillow! Are you kidding? Twenty dollars for what? Losing a measly tooth? Did the kid almost die doing it? Doesn’t this parent know that there are plenty more teeth to lose where that one came from?  Although most parents the Gorilla talked to say this case is extreme, it raised a good question; how much is just too much, where kids are concerned? As parents, we want the very best for our kids, but how can we give them that without over-indulging them? How can parents teach their children the value of a dollar? Well to start, setting precedence from the very start is one way. In other words, start small and work up. If you start too high the expectations only go up; i.e. twenty dollars for a tooth lost! What happens when they lose the second tooth, then the third and so on? Pretty soon your kids expectations are just way too high, and they can only be disappointed if you don’t keep the up the standard. You know it’s true, parents!  So what’s with all the spoiling? Just because you can, doesn’t mean you should! So many parents are spoiling their kids to a fault. Are you one of these parents? Do your kids have ALL the latest gadgets and games? Does your twelve year old have an I-phone? If the answer is yes, chances are, you are one of these parents. Now, don’t get the Gorilla wrong here, all through the ages, kids have wanted the latest and greatest things that life has to offer. And with such pricey items like video games now being the typical gift, it’s hard to tell a kid that fifty cents is all they should expect for a tooth! The difference between 20 years ago and now, is that most parent’s knew back then the difference between what an adult should be entitled to and what children should be entitled to.  So, does this mean that kids shouldn’t have great stuff? Well, of course not, but psychologists say that no matter how much money you have, you still can teach your kids to earn these things instead of expecting them. Using the tooth fairy money as an example, you can start right away teaching your kids how to save that money.  Tiffany Bass Bukow, founder of MsMoney.com, likes the idea of using the experience to introduce the concepts of money and value. Parents, she says, can use the loot from that first visit to show a child how to divide up money for spending, saving, and charity. But she warns not to be too generous.  ”In general, I think people are overspending on their children, and that’s part of the reason why the generation coming up doesn’t have a great work ethic.”  So how much is the right amount to give for a tooth? The Gorilla wondered this as well, and here’s what he found out:  According to a 2006 survey of 150 mothers conducted by eBeanstalk.com, an online toy store, the Tooth Fairy is giving an average of $2.64, with 60% of respondents reporting that they give less than $3 per tooth. The tooth fairy is simply one example of how to properly teach kids about money. We can also teach them by simply telling them “no” sometimes. Kids need to hear and know that they can’t always get what they want simply because they want it! After all, they might not get into the college they wanted to, or the job they want, or the love interest they seek later. Life is filled with “no’s” and they will need to be able to handle rejection. However, if you have great kids (and the Gorilla knows you all do), it is certainly okay to reward them for good grades or give them incentive to do well by offering a reward for their efforts.  

Both the Gorilla and Dr. Phil applaud this method. In addition, if kids want something material or need money for something extra, (a gift, a party, or concert) make them earn it by doing chores or yard work. By doing that, you are letting them understand the value of earning it, instead of teaching them to simply expect it for nothing! As Bill Cosby always told his kids, “this is my house and my stuff, and I am just letting you live here and use it!” Amen, Bill, Amen!