Piotr Jakubowski – Mind over Marketing

A Scary Thought
November 3, 2007, 1:36 pm
Filed under: game, monopoly, thought

My apologies for not being very active this week. I had 3 exams and other things that filled up most of my time. I spent 4 nights out of 5 at the Library getting prepared.

Anyhow, I was watching some TV the other day, and I noticed an advertisement for the new Monopoly game. Monopoly: Electronic Banking Edition. Why do I find this scary? A few posts ago I talked about the dangers of mismanagement of funds because of credit cards. Without physical bills and money, it’s difficult to know exactly how much money you have available. Obviously people won’t walk around with thousands of dollars in their pocket but by having a mix of both it is slightly easier to keep track of funds. Now even Monopoly is going cashless!

On the other hand, this may be a good thing, because kids will be able to learn how to manage funds electronically at a younger age. Personally I’m still convinced that giving a young child a physical bill as an allowance and encouraging him or her to save/spend it themselves is the way to go. I also think people should learn how to drive a stick shift before automatic, as to understand how a car works. I may be wrong though.

Do you see kids getting allowances on debit cards or by direct transfer?

What do you think?



2 Comments so far
Leave a comment

Piotr, with net banking though it is easy to keep track. It is simple a matter of looking each day at the run of transactions etc and I think any product that encourages the adoption of these skills is welcome on the market. I do know what you mean about handling paper money though. I had to pay a bank fee of $5.40 over the counter the other day. I offered a five dollar note and a twenty cent pieces and four, five cent pieces. She had to count the coins three times to ascertain that it as 40cents. I could feel my concern begin to niggle as I observed the third count.

By the way, I started netbanking for the first time about a month ago and I really enjoy it now. So easy to pay bills.

Comment by Susan

It’s true that netbanking is such a great way to do the chores. I do it as well.

Personally I really believe you have to learn how to walk before you can run. It’s the idea that you can physically touch all the money that you own as a child, be it in your tin box or piggy bank. You know exactly how much is in there, and you understand the value of what’s in there.

It’s moreso about understanding the value of their money more than anything. If people in America did understand this concept more, there wouldn’t be over $900 billion in consumer debt.

Comment by Piotr J

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