Our boys binged a little when we first started the economy, buying candy and treats and silly little toys, but running out of money a couple of times cured them and now they are really careful and price conscious about what they buy.
Every time our daughter Jenn runs out of money she wants a “payday loan.” She says “just loan it to me Mom and I’ll pay you back on Saturday when I get paid.”
You can sure see how the buy-now-pay-later mentality gets started. She is finally getting it that there are no loans from this family bank. But the whole thing has opened up bigger discussions about what people should and shouldn’t borrow for. We even got into appreciation and depreciation and the other day she said “OK, I’m only going to borrow money for my college and for a house some day, because those two things are going to go up in value instead of down.”