Common Sense MediaBy Sierra Filucci, Common Sense Media editor
My 6-year-old son is completely obsessed with a virtual world app called Tiny Monsters. All his friends are, too. And while his friends' parents feed their kids' iTunes accounts, enabling these tiny monsters to quickly grow into bigger ones, my son is stuck waiting and waiting for them to grow without the added boost of an in-app purchase.
When I brought up the idea of allowing our son to spend his $1 per week allowance on his favorite game, my husband was flatly against it. His reason -- that this virtual spending would nix any potential learning about money management -- seemed valid at first. If our son doesn't hold the dollar in his hand and pass it over to a cashier or slip coins into a slot, how will he understand that the money is no longer his?
But were we being old-fashioned? Isn't our society moving toward digital payments for everything? When was the last time we used actual cash for anything? And doesn't our son needRead More »from Virtual Allowance for In-App Purchases? Yes or No?