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Should minor children get money for gifts?

Posted by on Jan. 14, 2015 at 2:22 AM
  • 28 Replies
When I was a kid, we had an allowance if we did x amount of chores. Not much, but I was a young hustler (lol) and would collect cans, baby sit, sell crafts as a kid. If I did get money, as gifts from relatives etc , my parents usually took it - I never saw that money again, lol.

The skids get money from both sides of the family, and mom takes it- leaving the skids to cry to dad. So he told them, keep the money at dads...

which makes mom irate.

They don't have chores. When I have the money I try, but they are at the age they would rather watch youtube and play video games, and hate doing dishes or anything like that. I would love to be able to teach them financial responsibilty and how to "save" and simple banking principles like my dad did, but they aren't my kids- so it is not my place. Anyway-



So in my mind, what is the point of giving kids money then? It just causes problems, and we don't have the money to "reimburse" them for "lost " money.

I never say anything, but how do you ladies handle this?

Do your skids get an allowance?
by on Jan. 14, 2015 at 2:22 AM
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Replies (1-10):
pusheen-kitty
by Battler on Jan. 14, 2015 at 2:23 AM
The title should read AS GIFTS smdh-
leegirl_jm
by Ruby Member on Jan. 14, 2015 at 5:15 AM
I don't but we do have family members and friends who do give the children money for gifts. I put it in their savings accounts, my kids', SS is always given his money and he tries to save but apparently his mother takes it from him when she finds it.

DH always ensure SS has pocket money for his personal wants.
stepbystep49er
by on Jan. 14, 2015 at 5:19 AM
I think there's more to this story
Joie35
by on Jan. 14, 2015 at 6:50 AM
My kids get money from their grandparents and my aunts all the time. They each have a wallet to keep it in and they spend on whatever they want for the most part. My 14 yr old uses it to get herself Monsters and extra snacks here and there or saves it to shop at Hot Topic. My ds13 likes to spend his on Xbox points. Dd6 saves hers til we go to the mall or Walmart and then she likes to pick out toys for herself.
GlockMom
by Platinum Member on Jan. 14, 2015 at 7:04 AM
Why does mom take it? Did they buy something and she took it to pay for their wanted item? Or did she put it in savings for them? Or did she take it to pay bills or buy herself something?
Polkadotted
by Platinum Member on Jan. 14, 2015 at 7:05 AM

The kids here get a lot of money for gifts.  Their school has a credit union program so they can put money in the bank every week.  We encourage them to save, but do not force it. I have a you lost it? tough shit policy that I remind them of when they want to hold on to it themselves. 

We don't do an allowance. They all have regular chores, but there's no money in that.  They can do extra chores for money at a negotiated rate.

Tigress22304
by Ruby Member on Jan. 14, 2015 at 7:16 AM

No they don't get an allowance but they all have piggy banks that Dad and I fund.

My 3 know we give them the change from our shopping-but they also know we don't touch their money for any reason.

There are times the kids want to spend it on something special like a pack of gum but we usally give them the money.

They don't get an allowance at BM's house-but the same thing-if they get money for report cards or as a gift-BM takes it and there's nothing we can do about it

KnowItAll
by Silver Member on Jan. 14, 2015 at 8:38 AM
If my kids get money, I take them to the store and let them spend it. I don't understand why this is complicated. It's their money. Am I missing something?
SassyMom25
by Gold Member on Jan. 14, 2015 at 8:43 AM
Our kids do from family. Planning to start savings soon and may contribute what they have to the start. If I wasn't, I would encourage them to save it for something they want.
baparrot2
by Platinum Member on Jan. 14, 2015 at 8:50 AM

 When someone gave my child a gift of money, it was hers to do with as she wishes. I taught her the principles of money from an early age. That's all one can do. Sometimes she saved it.....sometimes she blew it. The lesson was always there no matter how she handled it. That is called organic teaching.

Some people gave her savings bonds.When someone gives one of those, it becomes obvious what is to be done with the money. I took those and put them away.

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