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Do you allow your teens to spend their money however they choose?

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Asked by Zanjea at 11:42 AM on Oct. 30, 2010 in Teens (13-17)

Level 11 (509 Credits)
Answers (7)
  • Sort of. Hubby made a deal with our older daughter. Everything she saves he will double when she turns 18. The catch is she has to save at least 10% of her allowance (and her check once she starts working) and once the money hits the bank it can't come out or the deal is off. To make it even sweeter, he told her that as long as she saves like she should even if she doesn't hit $1,000 that's what he will give her. He offered the deal to both girls, but our younger chose not to take him up on it. The money that our older daughter is not saving she can spend on whatever she wants, but she will have to pay for her own gas in her car and her insurance (we added her on to ours so she just pays the extra).


    Answer by scout_mom at 11:48 AM on Oct. 30, 2010

  • I did, they always used good judgement spending it and sometimes saving it.


    Answer by older at 12:09 PM on Oct. 30, 2010

  • For the most part, yes. DD started working and puts at least 1/2 her check in a savings account. Unless she is going to spend it on something really off the wall she can do what she wants. But when she spends all her cash on hand there is no taking out of her savings, she has to wait till her next check or hope some one call for a babysitter!!

    Answer by wallmom1 at 12:45 PM on Oct. 30, 2010

  • scout_mom - That's an awesome idea!!

    Answer by _Tam_ at 2:40 PM on Oct. 30, 2010

  • Half goes into savings, that she may not touch until she is nineteen. The rest she may spend as she pleases (the child has a shoe problem)

    Answer by rkoloms at 5:18 PM on Oct. 30, 2010

  • We allow our kids to spend their money as they choose, but we do encourage saving.

    Answer by jcm62497 at 7:20 PM on Oct. 30, 2010

  • sort of.

    they cant buy drugs... or X rated movies... but common things - sure... to a certain dollar amount

    Answer by sahlady at 11:32 AM on Oct. 31, 2010

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