Kids Spending Money

[klo1335]

My girls have been saving their money for our trip since Christmas. We are going to both Disney and Universal so I can't just get a Disney gift card for them (they already have 2 of those). I was thinking of taking their cash and getting a Visa Gift Card or Amex Gift Card. Any suggestions?

 

[Lynne G]

Well, you could get both Disney and Universal gift cards. Universal sells the gift cards right on its website. Otherwise, the easiest is to get a Visa or Am Ex gift card, that would work for both. Yep, my kids are teens, and want for nothing. We get gift cards or money for Christmas and birthdays. I get the Visa gift cards at Sam's, a 3 back of 25 dollar ones, slightly discounted. Save them to give as gifts. Kids also used the parks' gift cards too.

 

[mrsabbott]

Yes, a Visa gift card would certainly work. It is flexible enough that they could use it at Disney or Universal.

 

[Disneymooners4eva]

Don't know about the states, but Visa giftcards cost money to activate here in Canada...

Have you just considered taking the cash and "keep records" and charging it to your card?

I heard parents telling their kids "well you have $80 so if you get this bear you will have $-- left"

Hope that makes sense.

 

[dylans mommy]

I would either do a visa gift card for them to use at both places. Or I would just pay with your card/magic band and keep track of how much they spent. My kids have Disney gift cards they get for presents and if we have them with us at the park they will use them if not we use our magic bands and pay it off at the end of the trip.

 

[w.e.d 5571]

I would say to just buy you kids Universal and Disney gift cards at some place that can offer the gift cards at a discounted rate (like Target) that way it would save you money or you can just give them x amount of money in cash for both parks. I wouldn't use the visa gifts cards unless you can get them at a discounted rate due to the fact that you do have to pay extra to active the card and sometimes the sales clerk can mess up and not activate your cards properly.

 

[Accident]

I wouldn't do the universal card just in case they don't use it up or don't want to use it up to spend more at disney and vice versa. I personally did something like this to teach my daughter about money and it wouldn't bother me at all to pay the activation fee so she had her entire saved amount available to her. Cash has this effect to visually see how little you have left though, but I agree it's a pita to carry it around the parks and in this day and age you don't need too.

 

[Stigsmom]

I dislike visa gift cards for the reasons above, too many potential issues...
If you can't find Universal gift cards, maybe give each a cash budget in a marked envelope of $10s or $20s. They can write a tally on the envelope and keep receipts in it.

I talk with mine about budget regardless of payment method, and also give them estimates of prices for different things (piece of candy $4, jewelry or ornament $10, plush or shirt $30, etc.) you can see some prices on the parks' websites for an idea.

Don't forget a coin purse with quarters and shiny pennies for the tempting pressed penny machines!

 

[DisneyRegulars]

I would just use the cash. If you have to carry a gift card around, you might as well carry the actual cash around. It will be more concrete for your kids to understand how much money they have left. If you don't want to carry anything, just pay with your magic bands and they can pay you back at the room with their cash. I guess I'm confused as to why you would want to bother with the gift card or visa card step.

 

[tigger51276]

I have to say I prefer my kids to carry cash. I really think it gives them a much better grip on spending their money when they see it in front of them instead of just swiping a card. Kids these days don't understand that money isn't endless, I constantly hear my kids say, well just use your debit card, or write a check. They don't understand that I still need to have money to do that. That being said I don't let my kids carry all their cash with them either. I let them take like $30 with them and if they find something pricier than that, that they really want then I lend them the money and they have to pay me back when we go back to the room. Also by them having their own money it really cuts down on the can I get this, and this, and this and this. They know once their money is gone, it's gone!

 

[Happyjen27]

Cash. Totally. Cards change the relationship with money, and while adults understand that it is "money" kids have a harder time with abstract concepts like that.

If they have cash, which they value, and they want something, they need to give up some cash. It gives the thing they purchase value, because they had to give something up to get it. It also teaches them about spending once, meaning you can only spend a dollar one time, to make it count.

It's also easier to be nimble and flexible. If they don't see anything at Disney they want they can keep that money and bring it to Universal. If they have a disney gift card, they'd be "forced" to spend there.