Christmas 'money'

@nicanorr (1789)
Philippines
December 21, 2012 6:43pm CST
Sometimes children are gifted cash money from god-parents, uncles, aunts, acquaintances, etc. Do you interfere in the handling of the money? What exactly do you do? Do you have something to say?
9 responses
• Philippines
27 Dec 12
I don’t have kids but I do have nephews and nieces and I don’t interfere with the money that they had received from God Parents or other Family Relative. It’s their money and they should make most out of it. Not unless if they will ask me to keep their money for safe or to buy some things such as toys out of their money.
@nicanorr (1789)
• Philippines
1 Jan 13
This is a correct move and wise comment from a childless user. Giving kids a wide latitude for them how to decide on things is relevant.
@911Ricki (13588)
• Canada
22 Dec 12
I use to get money as a kid, and my parents let us do what we wanted. For me I would put it away, and save for what I wanted. I was that odd kid that never liked spending my money and I still dont. But some parents should step in and teach their children that concept or else they will be in debt in no time.
@nicanorr (1789)
• Philippines
22 Dec 12
You've all my praises. Indeed it's odd for a young kid to be focus in saving things especially money. You're destined to have a happy and contented life in the days to come. May your tribe increase!
@dorannmwin (36392)
• United States
22 Dec 12
When my children were younger, I would get things for them that they needed with their Christmas money. However, they are getting older now and because of the fact that they are getting older, I actually allow my children to spend their money in whatever way that they want to spend their money. For example, the year before last, my daughter wanted a Nintendo DS more than anything and I didn't want to buy one for her because I didn't think that she would respect it. So I encouraged her to save her own birthday money and add that to her Christmas money so that she could buy the game system that she wanted.
@nicanorr (1789)
• Philippines
22 Dec 12
Very wise move from a parent. One good trait to develop in a child is dependence. Through savings, she may acquire achievable things.
@jenny1015 (13366)
• Philippines
22 Dec 12
When they were younger, they would let me keep their money. But now that they are older, I just let them handle their money themselves. They should know better on how to spend them.
@nicanorr (1789)
• Philippines
22 Dec 12
Training kids how to handle money wisely will help them do proper budgeting especially when they'll be on their own.
@SIMPLYD (90727)
• Philippines
22 Dec 12
When my daughter was baptized, there were lots of cash gifts from her godparents. Thus, i opened an account for her, and all the cash gifts goes there. Until now, she retained the account. She saves her money there and withdraw only when it's so necessary.
@nicanorr (1789)
• Philippines
22 Dec 12
I think you've done something great and a good example for your daughter to follow. Just keep up the good work.
• Malaysia
22 Dec 12
Hi nicanorr, i do a little interfere only to advise them have to save the money. I told them if their money reach a $100 save it into their saving and they can spend about $50 after reaching the $100 and they can spend another $50 if it reaches $100 again. What they want to use the $50 is up to them, but normally they wont spend the $50 they would save it and ask me to pay if they want anything
@nicanorr (1789)
• Philippines
22 Dec 12
Half of kids' income would go to things as they pleases, the other half for savings. If very important things are needed by the child, he may spend his savings but with permission of the parents who'll reimburse said amount.
@averygirl72 (37544)
• Philippines
22 Dec 12
It's for the child or children to collect money gifts during Christmas. Since they don't know yet to handle money, their parents would interfere in handling it. Nevertheless, the child should have the right over it and would still decide where the want to use it.
@nicanorr (1789)
• Philippines
22 Dec 12
Proper direction from parents on how to handle Christmas money is a must, but children have the final say how to use them.
• United States
22 Dec 12
My children are still too young for me to answer this. I'm not sure, I don't think I will interfere tho. It would be their gift, not mine. But for 3rd birthdays we will get them a piggy bank which goes a long with learning to save (my daughter gets change for doing chores weekly and my son will to when he is older).
@nicanorr (1789)
• Philippines
22 Dec 12
Guidance will be given to kids as they grow, with emphasis on how to save money wisely.
• Malaysia
22 Dec 12
Ultimately the money was given to the child and so the ownership of the money goes to the child. In my case, I always believed the money belonged to the child and I could gently advise the child the best way to handle the money that is either to save it or to spend it and if to spend it on what kind of items. Advising the child will in the long run go to generating habits of responsiblity in handling mondey.
@nicanorr (1789)
• Philippines
22 Dec 12
I agree it's okay for parents to offer sound advise on how best to dispose money Christmas money.