As a parent is it better to give the children £35 a month or £16 a month, But still buy then stuff.?
I'm really stuck at what to do.
Is it better to give then £35 to buy all of there non essentials.
Or too give then £16 a month but buy all of there non essentials.
My kids are 13.
Please help me!
Answers:
I give my kids $5.00 a week and if they want more they need to do extra chores to earn it. This teaches them the value of money and understanding that if I have to work for my money they need to also work for theirs.
I give my daughter £5.00 a week but do buy her mostly everything she needs
I get her 400 texts a month, buy her clothes, all her toiletries, but she has to buy her own make up and any extra credit she may need, She is suposed to buy her own sweets but I usually buy some each week for her, Not many just a few.
if you give them 35..you take them to the store and work with them about how to get the most for their money.thats what i would do..that is another lesson in itself and what my mom used to do, or they can save it for another day..
My mom always made sure i had the things i needed along with the reward..you do not want your kids to feel like they had no freedoms and want them to feel they was taught how to do skills for life..
So if you can afford it i would do 35 if you cannot 16 either way work with them about what they buy..lifes lessons are the best..
It may be too late as your children are so old but you should give them the money to buy everything they need including the essentials. It they run out of money for food and housing then they will learn. It is better to have them learn while they are living with you then after they have moved out and have well ingrained bad money management habits. And yes I do think they should pay you back some to the money that you give to them as a rent payment for them. They should learn at an early age that they have to take financial responsibility for themselves and they also will gain a healthy respect for Mom and Dad also. Later in life they will not be able to thank you enough.
If you give them 35 to buy their non-essentials, it will allow them to make choices with their money. If they don't have enough to pay for a video game, tell them they can get it in 2 weeks when they have enough money. This will teach them that Mom and Dad are not ATMs and teach them to save their money if they want an expensive toy.
Hello really hope you're ok.
I personally would adopt your first option as i believe that
A: would give them a better understanding on how to control their own finances and not rely on you to buy all of the non essentials.
B: Give them an acute awareness on how much things cost and how finances are dwindled through luxuries.
C: You are possibly buying things like sweets, fizzy drinks and things that aren't perhaps good for them(forgive my conjecture) when they know this adds up it may curtail their use of such items.
D: Probably costs you more in the long run using option B.
I would personally steer clear of giving money to kids till you feel they're old enough to value the money. I'd prefer to buy things for them. At the age of 13, any money I give to kids would be token which I would expect they would be saving to buy themselves treats but again, I'd prefer to get them stuff so they don't just feel that money grows on trees.
When our daughter hit thirteen we gave her the choice.
We sat down with her and explained our budget and asked if she wanted to control 'her' portion of it.
Obviously she said yes because it gave her more money each month. We explained all the items it had to cover and that the money had to last her a month.
For the first few months she went mad. Bought clothes, records, books etc. and burned through her monthly allowance in a few days.
When she got into situations where she needed money for something, (bus fare, lunch money etc.) we sat down with her and went through her expenditures to help her understand the overspending. We covered the shortfall but only after the teaching process.
It took about six months but the penny finally dropped and she cottoned onto the idea and method of running a budget.
She's now 26 and just finishing off her PhD thesis with a small but manageable debt from tuition fees but no other debts.
It was took a fair amount of effort from all three of us, (self, wife and daughter), but I consider it one of the best life skills a parent can impart to their children.
Good luck
£5.00 a week is plenty
Unless you have a particularly mature 13 year old, I feel you should stick to the £16 for the time being, but switch over during the next two years.
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Is it better to give then £35 to buy all of there non essentials.
Or too give then £16 a month but buy all of there non essentials.
My kids are 13.
Please help me!
Answers:
I give my kids $5.00 a week and if they want more they need to do extra chores to earn it. This teaches them the value of money and understanding that if I have to work for my money they need to also work for theirs.
I give my daughter £5.00 a week but do buy her mostly everything she needs
I get her 400 texts a month, buy her clothes, all her toiletries, but she has to buy her own make up and any extra credit she may need, She is suposed to buy her own sweets but I usually buy some each week for her, Not many just a few.
if you give them 35..you take them to the store and work with them about how to get the most for their money.thats what i would do..that is another lesson in itself and what my mom used to do, or they can save it for another day..
My mom always made sure i had the things i needed along with the reward..you do not want your kids to feel like they had no freedoms and want them to feel they was taught how to do skills for life..
So if you can afford it i would do 35 if you cannot 16 either way work with them about what they buy..lifes lessons are the best..
It may be too late as your children are so old but you should give them the money to buy everything they need including the essentials. It they run out of money for food and housing then they will learn. It is better to have them learn while they are living with you then after they have moved out and have well ingrained bad money management habits. And yes I do think they should pay you back some to the money that you give to them as a rent payment for them. They should learn at an early age that they have to take financial responsibility for themselves and they also will gain a healthy respect for Mom and Dad also. Later in life they will not be able to thank you enough.
If you give them 35 to buy their non-essentials, it will allow them to make choices with their money. If they don't have enough to pay for a video game, tell them they can get it in 2 weeks when they have enough money. This will teach them that Mom and Dad are not ATMs and teach them to save their money if they want an expensive toy.
Hello really hope you're ok.
I personally would adopt your first option as i believe that
A: would give them a better understanding on how to control their own finances and not rely on you to buy all of the non essentials.
B: Give them an acute awareness on how much things cost and how finances are dwindled through luxuries.
C: You are possibly buying things like sweets, fizzy drinks and things that aren't perhaps good for them(forgive my conjecture) when they know this adds up it may curtail their use of such items.
D: Probably costs you more in the long run using option B.
I would personally steer clear of giving money to kids till you feel they're old enough to value the money. I'd prefer to buy things for them. At the age of 13, any money I give to kids would be token which I would expect they would be saving to buy themselves treats but again, I'd prefer to get them stuff so they don't just feel that money grows on trees.
When our daughter hit thirteen we gave her the choice.
We sat down with her and explained our budget and asked if she wanted to control 'her' portion of it.
Obviously she said yes because it gave her more money each month. We explained all the items it had to cover and that the money had to last her a month.
For the first few months she went mad. Bought clothes, records, books etc. and burned through her monthly allowance in a few days.
When she got into situations where she needed money for something, (bus fare, lunch money etc.) we sat down with her and went through her expenditures to help her understand the overspending. We covered the shortfall but only after the teaching process.
It took about six months but the penny finally dropped and she cottoned onto the idea and method of running a budget.
She's now 26 and just finishing off her PhD thesis with a small but manageable debt from tuition fees but no other debts.
It was took a fair amount of effort from all three of us, (self, wife and daughter), but I consider it one of the best life skills a parent can impart to their children.
Good luck
£5.00 a week is plenty
Unless you have a particularly mature 13 year old, I feel you should stick to the £16 for the time being, but switch over during the next two years.
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