If you see ads for other "dangerous" toys - let me know and I'll post a warning here.
The Children's Touchscreen ATM Bank.
This is the electronic touchscreen bank teller machine that helps children learn money management as they maintain a savings account up to $999.99. The machine accepts real coin and bill deposits and gives up-to-date account information on its screen. Young depositors interact with the tellers backlit touchscreen using either their fingers or the included stylus, and have their own ATM card and PIN for checking account balance, making deposits, or withdrawing funds. Includes 3 AA batteries. Ages 8 and up. The manufacturer has confirmed that this item meets all U.S. Federal toy safety standards, including safety standards for lead. 13 1/2" H x 9 1/4" W x 6" D. (10 lbs.) $69.95
How about some sort of IRA: kid earns hefty interest on deposit, but only by waiting a year or two. If the kid withdraws early, gets back only half.
ReplyDeleteI am thinking this new version of Monopoly ranks right up there with the ATM bank
ReplyDelete"The Monopoly Electronic Banking Edition game combines the best of classic Monopoly with updated electronic transactions. As with the original version, players still operate with money, learn real-world economics, competition and strategy, try to stay out of jail, and try their best to get filthy rich. But this version has been updated to reflect changes in how the real world uses money: All transactions are conducted with Monopoly's new banking card system. Anyone from age 8 and up will enjoy this updated version of one of the world's most famous games."
Ages 8 and up with a savings account up to $999.99.......What?! This "savings account" provides no interest, so the child is not learning to save, but to withdraw and spend. What a wonderful American lesson in consumerism. Shop till you drop. He who dies with the most toys, wins. He who invented this $69.95 toy will probably reap much moola for his efforts. And our children will get a headstart on what it means to be a "patriotic" American, someone who spends, spends, spends. Merry Christmas! Oops, I meant to say Happy Holidays!
ReplyDeleteI have an ATM that my child received for Christmas two years ago. It was fun for a little while, but the novelty wore off and it is now used strictly as a place to keep his coins. The lesson on how to handle money always should come from the parents, not from the machine, and we never expected anything other than that. Ever heard of, "It is not the computer, it's the computer operator?" Same thing.
ReplyDeleteSince I will be moving with my owners to the Nouvelle condos at the Natick Collection (formerly known as the Natick Mall,) (p.1, The Boston Globe, Wednesday, November 28,) I have decided to ask Santa Claus for this ATM Bank. According to the article shopping is a very important part of my owners and my lifestyle. I realize I will need money if I go to the pet day spa or if I see some gourmet doggie treats I'd like to buy. So thank you Concord Pastor for this vital entry. Your friend, Jasmine. Woof woof!
ReplyDeleteConcord Pastor,
ReplyDeleteOn a related issue, have you by any chance seen the new Wal-Mart ad? The final tag line is “The more you save, the more Christmas you can give.” I almost fell off my couch! Christmas now redefined by Madison Avenue as the presents themselves. I thought “Shouldn’t it really be something more like ‘the more you give of yourself, the more Christmas you give?’”
I must confess that I think the ATM is a good way to teach our kids about saving money. Yes, they will want to withdraw it, but they'll learn the basics of money management that many people have never learned. My son is under 10 years old and has saved over $800. in his bank account already. Money makes money.
ReplyDelete