Madonna gives $10,000 credit card to 8-year-old

[gwhunter69]

<div class='quotetop'>QUOTE </div>
She is hoping to teach Lourdes to be responsible with money.[/b]

http://www.jesseshunting.com/forums/style_emoticons/<#EMO_DIR#>/smiley-ren.gif Shoot, I could use a lesson in responsibility also...



Madonna gives $10,000 credit card to 8-year-old daughter

World Entertainment News Network

June 23 2005

According to reports, pop superstar Madonna has given her eight-year-old daughter Lourdes a credit card with a $10,000 limit.

Friends say Madonna hopes the exercise will teach Lourdes to appreciate the value of money.

"Minors are not usually allowed credit cards so she had to pull a few strings to get it issued in Lourdes&#39; name," a close friend said to magazine In Touch Weekly.

"She is hoping to teach Lourdes to be responsible with money."
Copyright © 2005, South Florida Sun-Sentinel

[GooseHunter Jr]

the only way to learn resposiblity with a credit card is to pay the montly bill!

[beastslayer]

I&#39;ll disagree.

The only way to teach the value (and right values) to your children is for them to buy what they want to buy out of their allowance.

This is my guidelines -- saves me a bundle too.

[Colusaduckhunter]

Should the dollar level of a child&#39;s allowance is commensurate with the parent&#39;s total net worth??? $8K is not a lot of money to Madonna....but it sure is a heck of a lot in my family.

When you say allowance...do they need to perform some tasks in order to get their allowance..or are they just given a certain amount of money each week regardless?? I am always curious how other parents handle the allowance thing.

My 8 year-old daughter, who was born a month after Madonna&#39;s daughter, gets $10 a week. She makes her own lunch each day and takes care of our cat&#39;s litter boxes, food and hygiene. She also has to keep her room and bathroom clean.

We also make her save half and she is free to sepnd half. alf of her savings is long-term and the other half she can use for something she wants (bigger ticket items), which we&#39;ll match dollar for dollar.

My wife and I are both accountants, so money and value are topics that we discuss regularly with our daughter.