The danger of telling your children they CAN'T get that fad-ish haircut...or have those $200 shoes (that don't feature velcro strapping or kangaroo logo)...or you won't buy them an authentic NFL team Starter jacket...or let them get their ears (or possibly nose) pierced is...
...that they'll be too immature to understand that you're trying to teach them the value of money and not spoil them with petty, needless shit...then in a fit of "I'll fix their wagon" teen exuberance, they'll go get a large tattoo of an ancient, magical creature etched prominently onto their right arm. Hope - for your child's sake - it's not a liger.
They just may end up being known as Food Lion. Or better yet...Food Dog.