Sarah Needleman
speaker
64 appearances
2 recordings
1 series
first heard Dec 2022
last heard Nov 2023
Sarah Needleman’s voice in public audio — every appearance, attributed to the second.
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WSJ Your Money Briefing · How Online Currency Is Changing the Way Kids Spend Money · 15 Nov 2023
podcast
They're already online, so it's very natural for them.
It's a way of being in control of their finances and not necessarily having to ask their mom and dad for every single little purchase.
Some of the parents I spoke to, they said they would hand their kids cash and the kids would hand it right back and say, nope, I want Roblox or Minecraft coins or V-Bucks for Fortnite.
A couple years ago, she wrote a note to the Tooth Fairy and said, instead of paying me in cash for my tooth, please pay me in Roblox or Minecraft coins.
And I saw the note and I said I would make sure the tooth fairy would get it and hopefully she's tech savvy enough to understand.
And then miraculously, the next day, the tooth was gone and the Roblox account was full.
So she seems to be a very tech savvy tooth fairy.
Parents are treating it like they have always treated traditional payments in terms of an allowance.
Children today are growing up with iPads in their hands from early age.
This is very natural to them.
A lot of these ways, these virtual goods are promoted online.
is just like in real stores.
They're trying to get you to spend.
There's, you know, flash sales, limited time only, or this is a rare pet.
And that digital purchase?
For children, I think it's a little bit easier for them to have a little bit of something of their own, to have Robux or Minecraft coins or V-Bucks.
That's just different from what their parents have, and they can go ahead and spend it as they see fit.
They order the art, they murder, they understand the dynamics of what's going on here.
But generally speaking, they realize that real money has to be used to purchase virtual currency.
Although I will say in some games you can earn virtual currency just by grinding, just by playing your way through.
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