Kids spending money.... what do you do?

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  • WendyTerry420
    WendyTerry420 Posts: 13,274 Member
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    How are you going to teach them any responsibility if you control their spending habits? I could see making a case to them for choosing something that you think is better, but they need to make their own choices, including their own mistakes.
  • farmers_daughter
    farmers_daughter Posts: 1,632 Member
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    I say quit being the mean mom
    But I'm soooooo good at it!!!:bigsmile:
  • farmers_daughter
    farmers_daughter Posts: 1,632 Member
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    Agreed about Dave. I'm a believer, sometimes I fall from "grace" :laugh: but I do my best.

    Just wondered about what others did.

    We have had lots of opportunities to donate lately and discuss what it means to donate money (like in the Salvation Army buckets that are out in JULY!!! Isn't that amazing! - no sarcasm there, granted I wish they didn't have the bell, but don't collect just at xmas time!)

    Thanks for the input!
  • highmaintnance
    highmaintnance Posts: 215 Member
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    My opinion is that it's good to let them make both good and bad decisions, and to let them experience what it feels like to waste their money on junk that breaks or gets used up in a matter of days, as well as to experience the pride of saving their money and buying something big. They learn more by actually experiencing disappointment than listening to you preach about it, and maybe that junk really is what they want to use their money on at the time.

    ^ This. My daughter has a savings, she's not allowed to touch, as well as money she can use on whatever she wants. We were at a church festival last weekend and she had $5 to spend. It was interesting watching her figure out where to spend it, either at a silly game where she may not win anything, or on rides. She eventually chose rides.
  • ldrosophila
    ldrosophila Posts: 7,512 Member
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    Let them spend it. If they spend it all and cant buy that toy or whatever they really wanted then so be it...lesson learned.
  • walleyclan1
    walleyclan1 Posts: 2,784 Member
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    We just decided there were three categories for her to use her money so we divided it equally. Keep in mind our daughter is not quite 4 and has about 10 dollars at the most at one time. We do, as the adults of the family demonstrate the idea of spending, saving, and charitable giving.
  • homerjspartan
    homerjspartan Posts: 1,893 Member
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    My 8yo daughter saved 2 years and bought herself a laptop.

    My 11yo son can't have money for more than 36 seconds without spending it on a video game or stupid shirt or nerf toy.

    Neither is right. They both just are.
  • onwarddownward
    onwarddownward Posts: 1,683 Member
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    My kids each have index cards. I draw 40 little circles on the outer edge and I have a hole punch. I am sure you can see where this is going. Each card has a value of $10.00 The circles are punched for specific things for each kid. One has a hard time calming down (autism) He gets a punch for calming down.

    My nine year old daughter has a hard time cleaning her room. She gets a punch for doing parts of room cleaning (picking up clothes, etc.). My son gets a punch for helping with laundry and stuff.

    I keep track of the money and it stays in my account until it is used.
  • skullshank
    skullshank Posts: 4,324 Member
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    ...just another toy you will have to pick up.:grumble:

    teach them to clean up after themselves better?
  • likitisplit
    likitisplit Posts: 9,420 Member
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    My 8yo daughter saved 2 years and bought herself a laptop.

    My 11yo son can't have money for more than 36 seconds without spending it on a video game or stupid shirt or nerf toy.

    Neither is right. They both just are.

    You're a great dad.
  • BullDozier
    BullDozier Posts: 237 Member
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    We do one to spend, one to save, one to give. So their spending money is just that, they have a portion they keep saved and another that they donate to whatever charity they'd like.
    We do this as well (we call it spend, save, and share).

    They each get an allowance and a certain percentage goes into each bucket. The save bucket they have to pick ahead of time what they are saving for to teach them delayed gratification. The spend bucket they can blow on whatever impulse purchase they want to make. Share goes to charity.

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