do u give ur kids money

China
April 16, 2009 8:02am CST
I have a cousin who is in the junior one, everytime he has extra money he will change them into food. do u give ur kids money regular to help he or she learn to use money, when do u begin to give kids money?
3 responses
@Ozarkgirl (774)
• United States
16 Apr 09
Once our children were old enough to get an allowance we worked out a budget with them, and show them how to do this. Their buddget consisted of shelter, utilities, food, clothes, medication, doctor, savings, and free spending money. Now do not freak out over this, we gave them 20.00/week for chores and there above budget cost was 5 cents for clothing, 10 cents for shleter, 50 cents for total untilities, 1.00 for food, 50 cents for medications, 1.00 for doctor, and then whatever was left they split it and put half in savings and half to just spend. The monies they paid for budget was put into a can that later would be split between them to do something special. This taught them how to pay bills, and be responsible. As they got older their budget got adjusted for the income and the additional bills, and their savings then went into a real savings account one for each of them and then when they turned 16 we matched their savings account for them to get a car. Our boys are now 18, and 20 and they are doing great. In fact they have bothed thanked me and their father for teaching them to budget, because they have friends that are not responsible, and have no money for anything including their bills and they are always running to money and daddy for money. I am very proud of my parents and of my husband because he is the one that came up witht his ideal (he is a psychologist), and we have 2 sons to be sooo proud of.
1 person likes this
@GardenGerty (102465)
• United States
17 Apr 09
You have both done a really good job. I used envelopes, but was not quite so organized. It still was better than what any kids learned.
• China
17 Apr 09
It sounds like a big project. If I am ur child I will definitly gratitude for all this. Best wishes to u and ur family.
• United States
17 Apr 09
Thank you guys. I do believe we all do our best where are children are considered and there really is no right or wrong answer as long you love your children unconditionally. I think ever one here that has answered this questions has done an awesome job with their children.
@ladym33 (11008)
• United States
17 Apr 09
I don't just give my kids money unless it is their birthday or some other special occasion. They are able to earn it from me though. I think at around age 8 I started giving them little jobs that they could do and get paid for. Then when they were around 10 they got regular chores, that they have to do but they get an allowance for doing it.
@GardenGerty (102465)
• United States
17 Apr 09
I think I gave my kids money on a regular basis from the time they were about five. They did not always have opportunity to spend it, but they learned how to count it. I did not give them very much to start with.