Children should always have your advise; while they are young and in your home is the time to give it.

You can suggest that he replace the transmitter on his IPOD if it is important to him, but if he chooses not to he will have to suffer without it a bit longer as you will not be financing the repair.

If money is tight, they he may have to pay for more than the basic essentials.

happytexasCM May. 29, 2009 at 11:44 AM

As a parent, I feel that you should always be able to give your input to your children on how to spend their money.  Also, I think that it's critical to explain that you're not helping them buy anything else after they've spent their money.

If your child earned the money, however, they should have the ability to spend it as they like.  Regretting what they spent the money on later is a hard lesson learned in the responsibility department.  Next time, they won't be so quick to buy impulsively.  They'll think about what they really want, or really need, and think about how much work they had to put forth to get the money for it, and/or how long they went without it.

I will never help out with additional funds due to irresponsible spending.  Kids need to learn how to be responsible with money, frugal, and learn how to save for a rainy day.

Jynx1978 May. 29, 2009 at 12:08 PM

I would give advice, that's my job, but when it comes down to it, it's her decision. As long as she doesn't spend it on slutty clothes or things of that nature, then I don't mind. But I will also teach her about having something to show for the money she had. I want her to make purchases that are smart, to her, even if I don't think so LOL

BaisMom May. 29, 2009 at 12:37 PM

It depends on how old your kids are as to how much you step in.  A 15 year old?  Leave them the hell alone.  A 6 year old?  Yeah, you should really "guide" their purchases.  BUT - they get final say.

RanaAurora May. 29, 2009 at 1:53 PM

I always give my daughter my input. In my case, my daughter is 10 and say she has $5. She'll try to get a bunch of small stuff, and basically spend all of the $5. But, there's something she wants really bad, but it cost $10, so I tell her that her options are ether getting all that stuff now, and not getting the $10 item, or, I could chip in and pay $5 and she could pay $5 and get the item she really wanted. Sometimes to her having more than one item is more important that getting something she really wants, or that would take all her money. I'm also trying to teach her not to spend all her money at once and not buy items that she will regret buying later (like impulse buying of toys, especially new items.)

tiffanyp1980 May. 29, 2009 at 4:31 PM

We definitely teach our children how to save and spend wisely. I think children need to have lessons in how to spend money, price comparisons, impulse buying, and how to save.

If my kiddo has $ that she receives, we ask her to save a percentage and then the rest is hers to spend as she sees fit. We guide her in her purchases (for example, asking questions like will this toy be one you will want in a month/year?) but allow her to make spending mistakes with low costs now...so hopefully lessons will be learned by the time she is adult.

PolkadotPatch May. 29, 2009 at 10:58 PM

if my daughter who is 15 has money, i advise her to save it or spend it wisely. i told by next summer she should be looking for summer employment to raise her own money. since i am past the toy buying stage, there are other things she may want now.       Sue 692

Sue692 May. 30, 2009 at 5:22 PM

I would advise me child to save money by offering a bit of price matching. They can do what they want with their allowance, but if they choose to put some of it in their savings account I will match their contribution. And once they are old enough to have a job, allowance will stop because if they have the power to earn, they should be earning.

risonski May. 30, 2009 at 5:52 PM

My kids can't spend their money on CRAP ...like candy - mostly because if we allowed it that would be ALL they would buy and we don't need more junk food in the house. Usually I will advise them not to get something that looks cheap and will break in 2 days. Most times I can talk to them into saving until they can get something nicer.

qtmomof2 Jun. 1, 2009 at 6:40 PM

I do let my kids spend their money on crap! lol.

 It's up to them (given, they are only 3 and 6). They are only going to be little once. Then they have a long time of being adults and HAVING TO PAY BILLS. They won't really have much of a choice of where their money goes.  (Given, we all have a choice, the only thing you don't have a choice on is death, but, not what I'm talking about.) Dh and I have discussed that with their first jobs, we will take a cut of their paycheck. NOT FOR US THOUGH! This money WILL go into the savings that dh and I have already started for them, but, they will not and do not know about it. Dh and I have planned since ttc that we wanted savings for all of our children until they reach 30. This isn't about paying for college or anything like that, this is more of a, "Congratulations on how far you've come in life"-type of thing.

  But, for now, they just get to be kids. We all remember how it was, get money and you feel that hole burning in your pocket. lol  Besides they both look so proud of themselves when they pay for the item(s) that they wanted.

josie_mommyof2 Jun. 1, 2009 at 9:50 PM