A few observations.
First, you can get it here for $298.
Second, boys LOVE Star Wars.
Third, boys LOVE Legos.
Fourth, once you give money to someone, it’s theirs to do with as they please, even if they are pleased by wasting it. If you want to give someone money for a specific purpose, you should put it in a 529 account in their name.
Fifth, saving money for something specific helps a child realize the actual value of the money…how long they have to wait and work and what not just to get enough money, if they go through that and still want it enough to part with the money, then it’s truly something they value.
Sixth, Legos may mean nothing to you, and I’ll agree they are overpriced, but think about the things you buy/collect. How many things that would seem to many others to be of absolutely no “use” whatsoever are you willing to spend your money on?
I have some insight here. I believe in getting a good deal, yet I buy a lot of CDs. Mostly I buy them used and cheaply, but there are rare items I’ve spent say 50 bucks on. Is my HDTV really worth what I paid for it? Or my video game systems? I got “good deals” on everything, but they were expensive and I didn’t really “need” them, any more than your grand nephew “needs” a $400 Lego set.
My son loves Lego sets…he has very specific ones he likes for very specific reasons (to him) that make no sense to me. He has very specific tastes in video games. He likes to fish, and has very specific fishing equipment he likes. Other than the video games, we have little in common tastewise, but when birthdays and Christmas comes, those are the things he wants, and useless and expensive though they may be to me, that’s what I get him, because that’s what he wants. If I get him something I want him to have, I don’t consider that a gift for him, that’s more a gift for me, now isn’t it? Can’t tell you how many hundreds of dollars we have in Legos and Lego video games, some of which are Star Wars, or even Star Wars Lego video games.
Now, I’m in a similar circumstance, my son wants to get an Xbox360. We have a PS3 and a Wii, not to mention regular XBox, PS2, GameCube, Nintendo 64, Super NES and a DS, along with an assortment of games and accessories for all systems. He got $75 total cash for his birthday, and now he wants to save up his money for an Xbox360 and Kinect. We don’t need it, he’s got more games than he can play right now anyway, and the majority of games that come out now days you can get on Wii, PS3 AND Xbox360, so it’s basically a redundant purchase. I’ve explained this to him, I’ve explained how he could have these other things he’s wanted for the money he has now. He’s very specific that this money is to be spent on that purpose, and even though we were at Toys R US, he had $47 on a gift card, plus his $90, and we had a 20% off coupon, which he could have applied to a PSP, which he ALSO wants, giving him MORE than enough money to get that right then and there, vs. waiting perhaps another year or two to get an Xbox360, he’d rather wait.
My point is, he has his heart and mind set on a specific thing…I don’t understand why, I don’t think it’s a “wise” use of his money, but if it’s a mistake, it’s his mistake to make, it’s his money to spend, save or waste, and it does no good in terms of teaching him the value of money if I put limitations on how he can spend it. Maybe he gets it and wishes he hadn’t and thinks of all the things he could have bought. Or maybe he buys it, loves it, and even if he doesn’t end up using it a lot, he’s happy for quite some time that he got it, and that’s all that matters.
Our tastes and what we value will change, his will, yours will, everyone’s will. Maybe by the time he’s got enough money, he’ll be over it…probably not, but if not, realize that it means that much to him, and he’ll get what he gets out of it, whether it be exultation or letdown. And $400 won’t make the difference between going to college and not.