My child received birthday money and immediately wants to spend all of it on a toy. Part of me wants to suggest saving some, but I also remember that a gift is supposed to feel like theirs. We're considering discussing options without imposing a rigid percentage, perhaps letting them experience a small purchasing regret safely. How do you teach money decisions while respecting ownership of a child's gift?
Deciding whether to let a child spend birthday money freely or encourage saving part of it
- parenting
- child
- spend
- birthday
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4 replies
I would let them spend it, unless they're asking for advice. A birthday gift that turns into a lecture can feel weirdly confiscated. If you...
I would let them spend it, unless they're asking for advice. A birthday gift that turns into a lecture can feel weirdly confiscated. If you want to teach saving, do it with a separate allowance or next time's money, not the present.
Let the toy happen if that's what they really want. The only thing I usually do is ask, “Do you want to use all of it now, or keep some for later?” and then accept the answer. They learn faster when the money is actually theirs.
I used to steer hard toward saving, and it turned every gift into a budgeting seminar. Not exactly festive. A little regret is useful, but m...