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Pop superstar Madonna has given her eight-year-old daughter Lourdes her own credit card with a $10,000 limit, according to In Touch Weekly.

Friends say Madonna hopes this will teach Lourdes to appreciate the value of money.

A pal tells the magazine, "Minors are not usually allowed credit cards so she had to pull a few strings to get it issued in Lourdes' name."

"She is hoping to teach Lourdes to be responsible with money," reports www.sfgate.com.

*rolls eyes in disgust*

By Melanie on Friday, June 24, 2005 - 06:47 pm:

ROFL-yeah, that should teach her the value of a dollar. Too funny.

By Cybermommyx4 on Friday, June 24, 2005 - 06:48 pm:

How can you teach the *value* of something by giving it away so freely?! Well, I guess it's going to be really hard anyway for a celebrity's kid to learn...like she's ever going to have to struggle and worry about money? My 8 year old would buy all the video games in the world and give them away to all his friends ;)

By Eve on Friday, June 24, 2005 - 07:33 pm:

She's had her own personal stylist for years now, so I think the lesson has already been learned a long time ago! Wow, just amazing!

By Karen~moderator on Friday, June 24, 2005 - 08:22 pm:

Can you imagine the size of this kid's trust fund? LOL

If she wanted to give her a credit card to teach her the value of money and to be responsible, why have a $10,000 limit??? Why not $500? How much can a child learn from having $10,000 at their disposal?!?

Hey Madonna, *I* would like an extra $10,000 to spend right about now! Feel like teaching ME the value of money?? Huh?? Huh?????

By Dawnk777 on Friday, June 24, 2005 - 08:51 pm:

Yeah, I'll take an extra $10,000 grand myself! LOL!

By Mommmie on Friday, June 24, 2005 - 11:51 pm:

No matter what Madonna does or doesn't do her kids are going to grow up wealthy, with nice things, in the best schools, never lacking for anything. I guess giving her a debit card with 10k on it will give the daughter a chance to watch the number get smaller and smaller. That's something, I guess.

By Emily7 on Saturday, June 25, 2005 - 01:39 am:

I am feeling like my parents didn't teach me the value of money right...I never got $10,000 dollars to spend. Heck I don't think I ever got more than a $20.00 here & there.
It is just ridiculous, IMO

By Missmudd on Saturday, June 25, 2005 - 10:27 am:

The only way that giving someone a credit card with that kind of limit teaches them about money is if they are there when the bill shows up in the mail. Then looking at what was spent and on what, then having to figure out where the $ is going to come from to pay it. All that is being taught is that this is a magic plastic thing that you hand people and they give you whatever you want. Sheesh.

By Karen~moderator on Saturday, June 25, 2005 - 10:58 am:

Emily, $20 was the most *I* was ever given too - my mom called it a *clothing allowance*. Like $20 a month was going to buy more than a bra and panties! LOL

By Mommmie on Saturday, June 25, 2005 - 01:20 pm:

Well, it's not like little Lourdes is going to go to Wal-mart to buy a $4.99 little girlie purse. It's all relative. Her little girlie purses are probable $1,000 from Prada or somewhere like that. Since Madonna is an astute businesswoman I'm sure she will teach Lourdes the value of money, but it will be at their income level. I think handing Lourdes $8/week allowance is a bit unrealistic when your mom is a multi-millionaire. My son has extraordinarily wealthy friends due to the school he attends, and I can't overlay my middle class lifestyle on their lives. It's apples and oranges.

By Emily7 on Saturday, June 25, 2005 - 01:26 pm:

The thing is Mommie, what if something happens & Lourdes ends up broke? What did her mom do to teach her how to earn her money...nothing. Handing your daughter a $10,000 credit card just teaches her that she can have what she wants and it may not always be that way for her. My parnets have money, but they know what it is like to go without & they taught us.

By Mommmie on Saturday, June 25, 2005 - 03:58 pm:

The chances of Lourdes ending up broke are so remotely slim bec Madonna gets royalties and will the rest of her life and when she passes, her children will get it. Everytime one of her songs is played or movies is played, Madonna gets money and she has a lot of music out there! She's been around producing music 20+ years. (My brother still to this day gets royalty checks for one song he had in one movie soundtrack back in 1988.) The thing with super-wealthy people is the rich get richer pretty much no matter what. Plus, being a *famous* wealthy person or even the child of a famous wealthy person, they can easily go out and find someone to give them money for an appearance or an endorsement at any time. This girl will always be Madonna's child and just based on that alone will be able to make money even if none is provided for her from her parents - which is highly unlikely. What mother would fly somewhere in a private jet, but send her daughter in a coach seat on a commercial airline exposed to the crazy people out there who just want to get near her and touch her bec she's Madonna's daughter. It's just not plausible.

By Emily7 on Saturday, June 25, 2005 - 08:31 pm:

Things happen though. All it takes is one person to mismanage your money or one very large lawsuit, having your bank accounts seized for whatever reason. Granted the chances are slim to none that Lourdes (what a name) will ever go with out money, but what a disservice to your child to not teach them the true value of a dollar. What lesson is learned by this? Is she responsible for paying the bill?
I would rather have my children throw a fit in a store than have them think they will always get what they want. My children will know that money doesn't grow on trees & that it takes more than your signature to pay for something.

By Sue3 on Saturday, June 25, 2005 - 10:29 pm:

This doesn`t shock me one bit.I am sure that there are numerous celebrities or very wealthy parents that
have done the same thing.
I wonder what she`ll buy ! ????? LOL !

By Karen~moderator on Sunday, June 26, 2005 - 09:19 am:

True...........and as far as we can tell, *most* of them don't turn out like Jack and Kelly Osbourne! ROFL

By Melanie on Sunday, June 26, 2005 - 02:27 pm:

I am not necessarily surprised by it, but can't help but laugh that she thinks it will actually help teach her daughter the value of money. That is such a joke. LOL.

By Dawnk777 on Sunday, June 26, 2005 - 11:24 pm:

Sarah would buy a Disney World trip, all the music cds she wanted, and music group merchandise.

Emily would buy a trip to Kentucky to see thoroughbred farms, Playstation 2 and all the horse-racing games, and riding lessons.

By Paulas on Monday, June 27, 2005 - 12:54 am:

My daughter would also use it for a trip to Disney World and then a bunch of barbies.

By Reds9298 on Monday, June 27, 2005 - 08:52 pm:

I agree that it's all relative. The child will never know the true value of money because she will never need to, there are just people like that in this world that have sooo much that's never going to go away. IMO it's doing nothing to teach her the value of money...you learn that by earning it.
It's another celebrity thing....their weirdos and think in weird ways. I often wonder how I would act if I had that much money???? Not condoning it at all, just wonder.

By Breann on Friday, July 29, 2005 - 06:02 pm:

I think that it is in comparison to Madonna's lifestyle.

I give my kids $20 because that's what we can afford. We shop at places that you can purchase things for $20. We live in an area where $20 is "normal". You can buy a t-shirt at Wal-Mart for $4.00. A new toy for $5.00. etc.

Madonna gives her daughter $10K (wish she would share the wealth!!) That's because they shop at stores where $20 wouldn't even let you in the door. That is "normal" to them. A new outfit probably tops $1,000. A new toy could be $2,000.

Some families are very poor and maybe give $2.00 to their child. That is because that is what's normal for them. A new thrift store t-shirt could cost 50 cents. A new toy $1.00.

I think it's great.....if I could give my kids $10K I would do it too. It's just that I can't, we don't live that kind of lifestyle.


KWIM?

By Melani on Saturday, August 6, 2005 - 07:53 pm:

I wonder what Lourdes has done to earn this credit card, or what she's going to do to earn the money for the CC payments?