My sister’s laptop is on it’s last legs. The battery no longer works and it’s sooo painfully slow. I volunteered to buy a laptop for her and then changed my mind. Well, not completely. I said I’d pay for the laptop upfront, but needed half my money back. Does this make me a bad sister?
A certain family member thinks so. He insists that I should pay for the laptop because I volunteered and dad paid for my first laptop in full. But here’s my reasoning: My sister is at an age where she needs to learn about money. By having her pay me back once she starts working (in one to two years) this will allow her to learn the value of a dollar. It also guarantees she’ll take better care of the laptop since it’s not coming by so easily.
This also would reinforce the money lessons mom and dad have already taught her — to save, spend wisely, and strive to become financially independent. My main goal is to have her realize how it feels to carry debt so that she’s not tempted to go into debt when she goes off to college. Now, I won’t be charging her interest (that would just be cruel), but she will have to make payments on the first of the month and there will be penalties in the form of chores.
With college approaching fast, dad and I are trying to get her to learn how to become independent. The laptop will be hears and she’ll be able to take it to school. All I want her to do is take good care of it so it doesn’t need to be replaced so soon.
What do you think — good idea or bad idea? How have you taught a friend, son or daughter a valuable money lesson? Do you think I’ll just end up footing the bill in full and pulling my hair out in the process?
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