I don't think the toddler beds are a waste of money, we bought one for Brendan which cost us $120 from Target and came with a table and chairs and also a toy box. He LOVES it and in February will have been in it for 2 years. It will get handed down to Tristan who will use it for a few years too. At the time we bought it we didn't have space for a single bed so it was perfect.