Creating Microsoft Account for Minor

There's a problem with that line of thinking though. Per the
Microsoft Services agreement:

iii. Kids and Accounts. By using the Services, you represent that you have either reached the age of “majority” where you live or have valid parent or legal guardian consent to be bound by these Terms. If you do not know
whether you have reached the age of majority where you live, or do not understand this section, please ask your parent or legal guardian for help and consent before you create a Microsoft account. If you are the parent or legal guardian of a minor who creates
a Microsoft account, you and the minor accept and agree to be bound by these Terms and are responsible for all use of the Microsoft account or Services, including purchases, whether the minor’s account is now open or created later.

You are free to try and get a refund for some of those purchases by completing the

refund request form found on the Xbox Support site.

That said, you should be aware of this component of the
Microsoft Services Agreement involving children:

"iii. Kids and Accounts. By using the Services, you represent that you have either reached the age of “majority” where you live or have valid parent or legal guardian consent to be bound by these Terms. If you do not know
whether you have reached the age of majority where you live, or do not understand this section, please ask your parent or legal guardian for help and consent before you create a Microsoft account. If you are the parent or legal guardian of a minor who creates
a Microsoft account, you and the minor accept and agree to be bound by these Terms and are responsible for all use of the Microsoft account or Services, including purchases, whether the minor’s account is now open or created later."

Question, are you under 18? I'm not 100% certain but it sounds like your settings are locked because your account is created as a minor's account.

You have to respect the rules, and make sure that your child does not access your account, create another with restrictions for minors.

Did you set your birthday as under 18? If you register as a minor like that, it'll make you create a parent account during the account creation.