Expectations #1

[parsley]

You've got a farmkid. He's nine. He wants to buy a bicycle and asks Mom and Dad for a $500.00 loan and promises to pay off his loan by doing farm chores. Cleaning vehicles, spreading out bedding for the cows. Weeding shelterbelts. Cleaning the chicken pen. Mowing. Grooming the dog.

You loan him the money.

He crashes his bike.

Do you make him pay off his loan?

[newguy]

You loan him another 500 bucks to buy another and he now will be in debt twice as long..

[parsley]

The question:

Do you make him pay off his loan?

[cottonpicken]

Seeing as how its a farm kids bike it was rigged to
crash so that kid should do what ever he can for his
self interest.

[boarderbloke]

it's a "teachable moment" pars, and it all depends on what you what to teach him. I know the answer, and I know you know the answer, as well. how can you go wrong by not teaching
r e s p o n s i b i l i t y ?
I know it's not in vogue, but it should be. My daughter has learned responsibility, it was a tough, and at times difficult lesson, but she's now 21 and I see clear signs of it paying off, and I think her future will be greatly better, because of it.

[parsley]

It is a teachable moment isn't it? For parent and child. Good for you boarder, for actually being A parent.

I will presume, cott, that by clicking your customary neuronary snapshot, your panoramic view shows that the child's true self- interest is indeed a long term investment and lies in paying back the loan, so that the little scumbag doen't move home when he's fifty, with triplets, a wife hooked on cocaine, and penniless. LOL

u coincurr? lol

[mbratrud]

You tell him there was an issurance policy with the first one deductible is $100 and he gets a new bike. Im kinda soft when it comes to my kids though

[ry0972]

If someone spent $500 on a bicycle there are major problems already!!! A decent motorbike can be bought for that. I got a NEW Schwinn for $125 us, It has everything I will ever need in a bike.
I think the kid is out a bike and has to pay back the loan. Get a $50 garage sale special and everyone learns a lesson.

[checking]

Never a borrower, nor lender be.

Any nine year old that wants a $500 bike has their standards set too high. It's what is wrong with society in general, and if granny, or the parents are being tapped, well, you're the example the kid learned from. If the kid intends to work the loan off, (s)he can also save up for it's desire in advance, and beholding to none with the cash in hand. That's called patience, independence, and a better chance the crash will never happen.

[parsley]

A lot of nine year olds would simply ask for a bicycle. "I want"

This kid didn't whine, but is willing to work for one.

Would you reconsider, conditional upon a pre-purchase work time plus payment terms, checking?