when i run my script that has this in it the CharacterAdded gives the message
Workspace.Script:2: attempt to index field 'CharactedAdded' (a nil value)
and without it it gives the same message for the Character
player = game.Players:GetChildren()
char = player.Character or player.CharactedAdded:wait()

2 comments
GetChildren returns every child of the instance. You want LocalPlayer http://wiki.roblox.com/index.php?title=API:Class/Players/LocalPlayer
You're getting ALL of the players, since you're using GetChildren(). Try to use LocalPlayer. player = game.Players.LocalPlayer