Ok, This question may end up coming across as a bit sensitive or awkward and frankly I don't know if this is even the right way and place to ask this. I kind of want to know this because of recent events that transpired to me, so I'll need to ask anyhow. . . . For the parents and younger collectors: How much money do you set aside for your child/do you have to buy toys, games and etc. on a daily/weekly/monthly basis? How often do you allow your child to/do you spend saved money on toys etc? How reliant are your kids on you/you for your parents for the allowance to buy toys and how often do you supply your child/by your parents cash? How do you manage your savings to decide how to spend and it? How do you teach/were taught to manage your allowance? Where did you store your savings and how often were you tempted to use it? I know my question is really all over the place in terms of what I'm asking, but I kinda really need to know, so yeaahh some help and answers would be greatly appreciated Again, if this is inappropriate in any way then mods please take the nesscessary action. Thanks!
So, are you the child or the parent? There are obviously 2 angles to the question....you the child trying to justify getting more allowance from mommy and daddy to buy more toys, or you the parent, trying to justify a "budget" for allowance and toy buying. Regardless I will offer my I am an older collector. Been collecting since G1 with a few hiatuses. I have an almost 3 year old, whom is currently not quite into TFs yet, but my plan for him, whether he collects toys or not, is that he will get an allowance, but a certain % of it must be saved....no choice in the matter. We already have college and savings account already set up for him. When the time comes and he is old enough to earn money, he will also have a retirement account set up. Once those requirements are met with the % he is to save, he may spend the rest of his money on toys or whatever he wants. Next question you may ask is, how much of an allowance? Well, that is based on your own personal budget and if you are lucky enough to have a limitless budget, then the allowance should be limited IMHO to something reasonable. I don't have an exact amount in mind, but it should be something that doesn't allow them to be spoiled. They should learn to appreciate what they have. That is just my on the matter
Here is something I overheard at the toy store once, "You can't get a toy every time you go to the toy store." Good advice for collectors of all ages.
As a father, I dont set aside any money for my 11 year old daughter (who doesnt collect). Occasionally I'll see something she might like and surprise her with it, but I dont have a "must buy her something every X amount of time" policy. She has chores that she is responsible for each week and she is compensated a small amout for doing them. This teaches her that you have to work for your money and how to save for things she might want. If she doesnt save, she wont have the money to buy. Im not so concerned with the saving aspect yet as she's still young, but she actually saves more than she spends on her own anyway. Im also more likely to spend on something we can do together as opposed to buying material things. Typically we go to hockey games and 2 days ago we went to the Distant Worlds concert
i'm 18. i have a job, i pay my car insurance, phone bill, gas, food and clothing. transformers are a last priority. i have a small collection and i like it that way. anything worth having is also worth bargaining and saving up for. impulse buys are few and far between, even more so since i sold off my whole collection and rebooted it.
My mom wasn't a collector, but she understood the collector mentality. She has tales of standing outside of TRU before they opened, hoping to snag certain Ninja Turtle characters for my brother; nabbing exclusive Star Wars figures in hopes that they would increase in value; getting pushed aside by Hot Wheels collectors who are apparently the WORST, etc. When she found out what we were interested in, she'd figure out how popular it was, and if they were flying off the shelves (or likely to do so), she'd pick them up. HOWEVER, we'd still have to earn/buy them. From her. She had a giant garbage bag in her and my dad's closet full of carded Star Wars figures, and when I earned enough ($1.50 allowance each week, extra for mowing the lawn, etc) I would buy a figure from them. Actually, last time I was in town, my mom gave me a bag full of unopened packs of original Pokemon cards that she never gave to us. I'm supposed to sell them on ebay for her. If my future children ever get into Transformers, I can see myself doing something like this. With the way some figures fly off the shelves (if they ever make it there in the first place), it's possible that the figure would be long gone buy the time the kid has earned the money. I figured I'd pick them up, and they can then be bought or earned from the store of dad. I'm not sure how old I was when I first got my allowance, but I believe it started at $1 a week, assuming I completed my chores/homework/etc on a daily basis. As we aged, my father decided to adjust for inflation, because he's that kind of guy. Any money that came from relatives had to go into savings (at least half of it), but our allowance was ours to do with as we pleased. I don't recall my parents ever allowing advances either. I'm 27 now, with a full time job. I'm a teacher, and they say we don't make that much, but going from part-time retail to this is like a dream, income-wise. I don't have a family to support, so I can allow myself a monthly budget. YEARS AGO, on the other hand, when I first received this income, I went a bit overboard with spending. Any figure I wanted, I bought. Almost ruined me financially, and luckily I stopped. I set up my new budget, and I've been reducing my "entertainment" portion slowly over the years and upping my "savings".
Hmm, interesting. I like the idea of buying some figures and letting your kid buy them from you when they have earned enough to do so. As you mentioned, some stuff flies off the shelf and because things are released in waves they could be in and out of stores within months
I'm the child. Once in a blue moon do my parents buy me a TF anymore besides my BDAY and XMAS. I work my butt off every Saturday to get $70-$100 to buy any MPs I want. (Not buying much retail toys.)
Thanks for the replies so far! For those curious this is for research purposes for something I'm working on, not because I'm in need of money or anything.