New money question on the Talk....

Avatar for cmpat
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Registered: 02-21-2003
New money question on the Talk....
19
Mon, 12-06-2010 - 1:53pm
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Avatar for savcal2011
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Registered: 10-06-2010
Mon, 12-06-2010 - 2:07pm

In my household, yes, with the caveat that it be an age-appropriate, legal, reasonable purchase.

"I don’t mind a banshee, that’s fine. 2 banshees? I HATE you. I actually wish bad things upon you." -- Day[9] Daily #459 P1

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Registered: 01-08-2009
Mon, 12-06-2010 - 3:35pm
We've got the same rules for gift money for my younger one as we do for any other kind of money that comes into the family: Share some, save some and then you can spend some. The 18 year old isn't answerable to us abouut what he does with his money except that there are things I would not allow in my home.
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Registered: 01-15-2006
Mon, 12-06-2010 - 4:44pm

unlike a giftcard, we always told our kids a portion of gift money goes in the bank and the rest can be spent.

 

iVillage Member
Registered: 10-01-2010
Mon, 12-06-2010 - 4:57pm

It depends on what they are getting the money for. For birthdays, they don't get much money so they can spend it on anything they want (in reason of course). For religious events, they have to save some.

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Registered: 04-16-2010
Mon, 12-06-2010 - 7:31pm
Us to. And the *rule* applies across the board, not just for the kids. Share, save and spend. I've got one that is always broke, b/c the child feels the need to spend every last dime, all the time (often buying for others in addition to him/her self). I have one who's a cheap skate, and never spends anything, lol. And one who seems to have a pretty good handle on things, and spends *thoughtfully", finding good deals, and such. Said child has decided to save a percentage above and beyond what we recomend.
Avatar for mommy2amani
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Registered: 03-26-2003
Tue, 12-07-2010 - 1:33pm

We allow the kids to spend any money they have on whatever they'd like, as long as it is age appropriate.

Avatar for cmpat
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Registered: 02-21-2003
Tue, 12-07-2010 - 6:18pm
Good points, 'within reason' is the parents' prerogative as long as the child is under 18 and/or living under the parents' roof.

Thanks for your feedback :)
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Avatar for cmpat
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Registered: 02-21-2003
Tue, 12-07-2010 - 6:23pm
Right you are. I agree that whether they are over or under 18, as long as they are in your home age has no bearing on it if you're not ok with it.
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Avatar for cmpat
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Registered: 02-21-2003
Tue, 12-07-2010 - 6:25pm
It always amazes me how 2 kids raised in the same home can have 2 totally different sets of habits with money :)
Thanks for your feedback! I appreciate it.
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Avatar for cmpat
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Registered: 02-21-2003
Tue, 12-07-2010 - 6:27pm

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