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Old 04-02-2012, 07:21 AM
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Blackcat31 Blackcat31 is offline
 
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My kids were always required to save half of whatever money they came into. Whether from a birthday card from grandparents or a dollar found on the sidewalk...half goes straight into savings. My DH and I also made sure our kids knew that you get gifts on your birthday and at Christmas time only. Anything else they wanted was something they had to save and buy themselves (and not from the money in their savings accts).

DH and I supplied everything school related and aslo clothing (within reason). One pair of tennis shoes per year, one pair of boots one jacket, etc etc....everything else was on them.

When my kids got old enough to have a job, they were required to do so if they wanted to drive and have a car. DH and I contributed $500 to their first car and paid insurance on them. Gas and anything else was also on them. They also were not allowed cell phones until they drove and that was probably only for my benefit not so much theirs. If they got a ticket, they paid it, had consequences and had to pay any additional insurance costs related to the ticket.

I refused to buy Gameboys and exspensive electronics....if they wanted them, they saved and bought them on their own. Paying for something on their own helped them understand the value of a dollar as well as to take good care of the items they purcahsed. It meant more to them because they had to work to pay for it and knew exactly how long it took to earn something.

Today, my kids are 20 and 23. My 20 yr old has worked at the same job since he was 15 yrs old. He works full time and goes to college, my 23 yr old works 2 jobs and goes to college. She has even retained her job from high school so when she comes home from college for a holiday or long weekend will pick up shifts at her old job for extra cash. My kids both have newer cars and nice things but ALL were purchased by them and taken careof very well because they paid for them on their own.

Even if I had the money to spoil my kids rotten, I wouldn't because that does them no good. Did I want to give them everything I never had as a kid? Not really..... because I was also taught the value of a dollar and hard work.... those are the things I always knew I wanted for my kids. I coul dbe a millionaire and still wouldn't give them everything. I think that is a lot like giving them candy for breakfast; something they might want but not need.

In my book, there is a HUGE difference between want and need. Teach that to your kids and they should be alright.
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