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Do you make your child save some of the money they recieve?

If you give them an allowance do you have them put a portion aside as savings or are they free to spend it as they like?

 
kmath

Asked by kmath at 12:53 AM on Jan. 22, 2011 in Parenting Debate

Level 48 (296,841 Credits)
This question is closed.
Answers (17)
  • Mine are too young for this but I like your idea OP about saving some and spending some.  In my opinion it teaches how to reward oneself but to also plan ahead. 

    MrsHouston47302

    Answer by MrsHouston47302 at 1:44 AM on Jan. 22, 2011

  • i dont give an allowance, but my kids usually get what they want or need, so they dont need an allowance i dont think. any money they get from relatives or for gifts though, i let them do what they want with it.
    hellokitty1978

    Answer by hellokitty1978 at 12:55 AM on Jan. 22, 2011

  • I don't make her, she wants to on her own. Pretty good for nine yrs old!
    Noosa

    Answer by Noosa at 12:56 AM on Jan. 22, 2011

  • My son is only 2 but I would not "make" him save anything. I would speak to him about the importance of saving money however!......and I would not give him any money unless it was earned either.
    truthteller0722

    Answer by truthteller0722 at 12:57 AM on Jan. 22, 2011

  • My DS is only 3 but money he does get for bdays/christmas, and per caps I put away for him. When he gets older I'll teach him about saving and of course he'll keep part of his money and save the rest.
    myree85

    Answer by myree85 at 1:06 AM on Jan. 22, 2011

  • When my son turned 15 he got a part time job. He was soo excited about getting a paycheck and he wanted to open a cking acct. I had to go on his acct. with him until he was 18. I told him if he were going to open a cking acct. the bank required him to put 25.00 a month in savings. So for 5 yrs he's saved 1500.00! Yes ladies I told my son a white lie and glad I did, he just recently upped it to 50.00 a month and he actually thanked me for doing it, lol
    Kathy675

    Answer by Kathy675 at 1:07 AM on Jan. 22, 2011

  • My daughter usually wants to spend it quickly and my son can hold off and even forget that he has anything to spend. I tell them when they receive cash or gift cards that they don't have to spend it. I just found 2 gift cards in my bag belonging to my son from his birthday a few months back! He gave one of them to his sister. He's 11 and she is 9. She spent it the very next day! lol
    SnapIt

    Answer by SnapIt at 1:09 AM on Jan. 22, 2011

  • my boys are only 16 months now but lol, when i do start giving them allowance i'm definitely teaching them to save because i want them to beable to understand the importance and when they start getting a lot money when they get a job i want them to know how to save.
    unsure as to how i will go about it. if i will teach them to save by allowing them to wwant something, and having them save, or by just making them save... (if that makes sense)
    ElsaSalsaaa

    Answer by ElsaSalsaaa at 1:23 AM on Jan. 22, 2011

  • I do give my son an allowance, only because he hopes in and trys to help. However I do let him buy whatever he wants. But at the end of every week. If he hands me some money back il double it. That's just something i thought i'd do to help about his life. As because when he wants to buy a car or something when he's older it's there in a trustfund. He's only 9 but he's pretty good when it comes to this types of things.
    Elle2778

    Answer by Elle2778 at 4:31 AM on Jan. 22, 2011

  • make? no...encourage? yes...in the end its their decision and what I do teach them is to live with the decisions they make.
    Zoeyis

    Answer by Zoeyis at 7:44 AM on Jan. 22, 2011

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