Children's spending money

[weregoingtodw]

Our 9yo DD will have saved $50 for our upcoming trip. Given that I'll purchase the items she wants such as t-shirts, hats, etc., is $50 enough for the trinket items that kids always want to accumulate?

I don't have a problem buying her things in the least, but this will be her first trip where she's saved money, and I'd like her to learn to budget for herself (and learn to say "no" to the junkier trinkets). If I need to supplement, I'll do it before we leave as opposed to handing out money when we get there, because I want her to have a spending plan regardless.

Thoughts? How much do your children typically spend for their ages?

 

[ksoehrlein]

How many days will you be staying? We tend to take DD's trip savings and divide it by the number of days we'll be there. She can spend all, some, or none of each day's allowance, knowing that any money left over can be added to the next day's allowance. Even at her age, she tends to shy away from the "junk" if she knows that it would blow all of her money for the day.

 

[fljelad]

My DS will have his own spending money plus $10 a day from us to spend as he wishes. As it will be his birthday, we will be buying some things for him and we'll cover all his meals and most snacks. He will be buying whatever else he thinks he'll need.

We give him a daily allowance everytime we go on vacation and coach him on his decisions. He knows that if he wants a baseball cap, he may need to wait until day two to make a purchase. If he REALLY needs more skittles and another key ring, he can get them but he may not get something that he really wants later in the trip. We actually hand him a ten dollar bill each morning because if we gave him fifty dollars on day one, he'd spent it all!

 

[polly p]

I don't think you need to supplement before you go. I always hang on to the kids money and pay the bill. That way if it is too expensive but I feel a good purchase they don't need to know I put money in for them. But you'll be surprised how they won't spend the money because it is "their" money. They would rather spend mom and dad's.and are usually really choosy buying things that they are paying for.

 

[minkydog]

The rule in our family is Dad pays for meals & lodging, kids pay for souveniers. My two older kids do odd jobs and save tooth fairy money to go to WDW. I give them $10 additional each day so that they can buy a Coke or ice cream, if they want, but otherwise they know not to come begging me for money.. On our last trip each child had about $50 saved. I was amazed at how frugal they were. DD specifically wanted a stuffed Minnie Mouse and she saved her money until she found just the right one.

 

[Christy]

Our daughters had each saved up about $50. for our 8 nightstay, then I added to it. I didn't have them use it for snacks/drinks, etc. I did tell them to really think about how they wanted to spend their money-only buy things that were something that represented their trip. They both ended up buying charm bracelets, which was great because I bought a few charms to give them as Christmas gifts. They also got into the whole pin thing...

 

[belle_of_the_ball]

wow, $50, thats more than i ever saved up. My parents made me buy any souviniers i wanted.....aside from the ones i got for birthday and christams gifts. I was alway careful with my money, i geusse its alot easier to "waste away" mom and dads money!

 

[CMKN]

I pay my girls their allowance in disney dollars (their choice - I actuall bank it and then before we go I cash it in). Last years trip they each had approx $160. It amazed me how frugal they were. When mom wasn't flipping the bill they really all of the sudden didn't need that third mad hatters hat or balloon Ironically they both came home with money (over $60 each).

 

[dzneelvr]

We started this with our DD and DS around age 10 and it was the best and most realistic way for them to learn the value of money. They saved so much and then could do a "spend down" until they reached zero. DH and I would keep track for them and each night they would subtract their purchases from the total. Let me tell you, they learned what tax was too; although my DS was a good one for trying to negotiate away his tax.....like the other posters, we were proud of how careful they became with their money. It's a good learning tool and the benefits will last them the rest of their lives.

 

[dixipixi]

Our children have handled their own money since they were old enough to understand the concept. At home, they are given an allowance every week. In addition, they can earn extra money. They usually get money for birthdays,Christmas, etc. as well.

We helped each of them get a savings account at our bank. I find they save much better when they have to go to the bank to withdraw it. They also love seeing their money "grow" on their statements. When the time comes for our trip, they can take out as much as they want to bring with them. They HATE to take money out of the bank. So I think this has been a very valuable learning experience for them! Even though they can spend their money as they please, those savings accounts have taught them to be very frugal. They know how long it took them to save their money, and a small trinket or extra candy/junk food just isn't worth it to them.

DsS (16) actually informed me that he will probably only bring between $50-$100 this trip. He is working on "customizing" his truck and puts the majority of his money these days toward that. He knows that his truck is permanent and whatever "junk" he buys will be forgot about/lost/outgrown very shortly.

Ds (12) is another story. Although he has begun to save for a car, he is still a kid. He is also a huge Star Wars fan and we'll be there for Star Wars Weekends...so I'm sure he'll face a lot of temptation!

 

[Thediskids]

Great ideas we are trying this on this trip

 

[Peace Mickey Lovers]

My DD is 4 and I want to start her this year on an allowance to save for Disney. At what age did you have your chaild spend their own money on trinkets at Disney?

 

[tinkerbellmom31]

We went last July and my 9yo Dd had her own money. We bought banks for all three last year at disney and they will all have their own money this July. My oldest, now 10 chooses wisely at Disney. My 5yo dd wants everything princess and has at taste for the pricey things so it will be a learning experience. My 3yo ds will ofcourse have our guidance, this just helps with our budget and he really is into the whole putting money in the bank thing lol. We will be buying their food, snacks, autograph books and maybe a hat or shirt.

 

[golfgal]

We are giving each of the kids $50. They can certainly earn and bring as much as they want on top of that. We have been discussing that there will be a lot of things they want and that they should really spend a couple days looking around before they really start spending their money. I am not going to interfere with their choices since it is their money AND it is a good learning experience for them. Also, and most important, what ever they buy THEY have to carry (moral of the story, buy it on the way back to the hotel OR wait until we shop in Downtown Disney).

I will most likely get everyone a t-shirt or sweatshirt. I also want the sillouettes done.

 

[MomofKatie]

Last fall DD was 6 and she spent her own $$- throughout the year, she would cash in some of her allowance savings for Disney Dollars. By the time the trip rolled around, she had $60.

We didn't put any restrictions on what she could buy, but we did do some gentle "coaching"- asking if she REALLY wanted to spend all her cash the first day, etc. Overall, she did really well, and was pretty frugal. She ended up waiting to spend her last $10 until the last day.

We plan on doing the same thing this fall- she will have a bit more $$ this time- probably around $80.

 

[Grumpy's Wife]

I always buy my children a new disney sweatshirt before we leave (we usually go in February). I will buy them one thing from Disney. Whatever they want plus a hat or visor. Ok, so maybe that's two things. Anything else comes from the money that they saved(I'm not speaking of food or snacks, just souveniers). It is so nice to see them justify the spending. So much of want they wanted goes back on the shelf because they think it costs to much. Not to much for Mom & Dad to spend, but to much since it is their money. It really is a great learning experience for them. Everyone should try it.

 

[dawnrose]

When we went to Disneyland last Dec. my daughter had all her bday money plus money she'd saved. It was the most she'd ever had! So we divided it up for the 5 days and she had 25.00 per day to spend or save for the next day. She was just turning 7 and I felt like it was the first time she really understood the whole money thing...hers, ours, what things cost, etc.....I was surprised at how well she did, putting a lot of thought into her purchases and didn't buy any 'junky' stuff.....she even bought a case for her growing pin collection....I would have never thought she would spend her own money on something so practical! She has saved all her money since then for WDW in June....She's up to 80.00 now.....Another thing we did for WDW trip was a sticker chart for extra chores etc.....so that she could 'pay' half her way to the My Disney Princess Tea as it is quite pricey.....It took about 2 months to fill up her chart so I think she really feels like she earned the tea party.

 

[disneymom3]

When we went when DD was 6, she brought her own spending money and it seems to me she had around $50. The trip before she had been dying for a Princess hat (y'know those triange sticky up ones, lol) and was quite offended that we didn't feel the need to buy it. The trip she brought her own money she looked at the price tag and just about flipped! Didn't make the purchase and started to understand where we were coming from. Of course, the following year, Grandpa was along and he sprung the big bucks and bought it for her. And where is it? I believe it is currently on the floor of her closet. Ahhh, the real reason Mommy wouldn't buy it.

Haven't figured out how DSs will have spending money next trip. They don't get allowance yet. DD is helping me at my garage sale this next weekend and selling cookies and lemonade. 75% of what she makes is to go into her savings for WDW.

 

[Aidensmom]

I think that with $50, she will be able to get the souveniers she REALLY wants, because she will hold out for the things she has her heart set on. But if YOU really want her to be able to get more, I would do what the another poster said and carry her money so that you can throw in the extra undetected if needed (beware this will only work if she is not good at math!)

DS is only 3, but he already has in mind what he wants on his next trip to WDW (saw it last time!) and I told him he could buy it if he earned money doing jobs around the house (or, as he calls it, "jobbing around") and I would put money in his piggy bank. At his age, of course, he does not have a good concept of cost, but if I tell him that we can't buy something at walmart because then I won't have money to give him for jobs, he understands that VERY well. If it is their money, kids spend wisely, but if it is yours, they want everything!

 

[the kabuki]

For our 2 older ones (the 3yr old doesn't get the concept yet!) I give them $100 each for the 6 nights we're there. They have done various chores around the house in the months leading up to the trip, we don't have an exact allowance system here in my house, if I ask you to do it, you do it and I'll let you stay LOL

From DH & I , they will each get a sweatshirt/t-shirt of there choice, the rest of it they use their money. Believe me, they are true scrooges with that money. Last day, and they both had some left over. Amazing what they decide they can live without when they know there's no more to be had, when they spend it, it's gone.