Kids spending money

[cmaelltt1]

I've had my 2 oldest kids (12 dd, almost 6dd, and 3 ds) earning some spending money for DW. My oldest also has a bit of money of her own. I was wondering what do you think is a good amount of spending money for kids these ages at DW. I (or my mother) will buy for my ds, but the other 2 will have to buy all their own souveniers and snacks. I want them to have enough to buy a couple of things and a snack at each park and a couple of things at DD. I will probably pick up a couple of Christmas presents too. If I can sneak anything around them. How Much per day do you let your kids spend? We will be there 6 days.

Carrie

 

[ellyn2000]

When mine were slightly younger I gave them a set amount at beginning of trip and then no more. Ususally $50. By 15 & 16 yrs. old I gave them $100 for the 8 day trip and they were responsible for their souveniers, etc...themselves. They often brought money home with them because it was hard for them to spend it on themselves. It may sound like too much to some, but they never asked for anything or any more money for the whole trip. It really worked for us.

 

[michelle8671]

Good Question..
I have given the children £200.00 each which is about $354.00 this is to last them 2 weeks it sounds a lot but when you divide it up to 14 days it isn't much really.
I'll be interested to hear what others do with similar aged children

 

[LynnTH]

Last year my DS5 and my DD2-1/2 each brought with about $200. They had saved up money from Birthday's and Christmas's. Even at 2-1/2 my DD carefully selected what she would buy. My DS came home with about 1/2 of his money as he knew there was something at Target he wanted to get. I like the idea of them having their own money. They don't ask for everthing and they are much more careful how they spend their money (even at young ages)

 

[daughertyk]

We have DS10 and DD7 who don't know that we are going to WDW, so for their allowances and report cards and things we have been giving them IOUs because money burns holes in thier pockets. We just tell them this way they will have some money when it comes time to go Christmas shopping. They are a little upset that they have to buy presents with thier own money, since they have never had to do this before, but I can't tell them the real reason they are saving it. They both have about $70 and between us and the grandparents, they will have plenty to spend of "their own". It's our first time, so I don't have a clue what all they will want or how much things will cost, I guess that will be our surprise.

 

[disney_me]

My DD 9 also got her own spending money our last trip (2/05) We told her we would match any amount she had saved for DW. She had $125.00 for 5 days in the parks. I gave her $25.00 of her own money every morning we left for the parks. It's funny when you give them their own money to spend, they don't ask for anything nor do they spend the money they have. I still bought her thing like tee-shirts, ect. but if she wanted a stuffed animal or candy she was to use her money.

Letting your kids have their own "spending money" is a great way to show them to think twice before just buying something. They learn fast how quick money comes and goes.

Tip: change all the money they have to spend into Disney Dollars

DD loves them!!

WDW; 10/04, 2/05, 12-05 SOON , 2/07 IN THE WORKS

 

[FourFlans]

We're going for the first time at the beginning of December. Both kids have been "saving" since the start of summer and have about $100 each. Plus Santa is sending them $100 each in Disney Dollars before we leave. So they'll have plenty. I wouldn't give them each that much but I know they're going to want a princess dress from the actual place (instead of the ones they're taking with them) so I'm trying to plan for that.

 

[DonaldDucky]

When mine were slightly younger I gave them a set amount at beginning of trip and then no more. Ususally $50. By 15 & 16 yrs. old I gave them $100 for the 8 day trip and they were responsible for their souveniers, etc...themselves. They often brought money home with them because it was hard for them to spend it on themselves. It may sound like too much to some, but they never asked for anything or any more money for the whole trip. It really worked for us.

Great idea. It teaches them responsibility, budgeting and the value of the dollar.

 

[WIcruizer]

I don't think the amount really matters. Every family is different, and to some $100 is equivalent to 2 weeks of groceries. To others, $100 may as well be one dollar.

The important thing, in my opinion, is that they somehow earn the money. And I applaud you for doing so.

 

[disney_me]

My DD has her regular chores to do = to $10.00 per wk plus if she does a bit more (like fold laundry, make the beds, ect.) She will earn a bonus at the end of that week. any where from $5.00- $10.00 more)

Chores she has to do, but the bonus, thats her choice we don't ask her to do them she know what will earn her extra money for our trip.

All kids should earn a bit of money from doing things around the house.

 

[FourFlans]

I agree. We've actually set up a "bank book" kind of thing since Mommy never has cash Anyway, each DD earns $10 for daily/weekly expectations (making beds in the a.m., taking dog out, completing homework, clearing table, etc.) We divide the $10 this way: $5 to the WDW fund (don't know exactly where that will go after our trip), $3 to them for whatever (they can spend it right away on junk or save it for something they want) and $2 back to the family for their "upkeep". This way they pay more attention to the fact that feeding and clothing them is not cheap, and they are much more conservative about spending their own money. So when we're at Target and they say "I want, I want" I just say "You have $____ in your account".

 

[disney_me]

Thats a new one, might have to try that

My DD's school also are teaching the kids about money. Our local bank comes to the school every thurday to let the kids make deposits. Each kids was set up with a savings account in the childs names(with permmision) They can only make deposts at school if your child wants to withdraw money you have to take them to the bank. So DD has that money also saved. That fund is not for DW. Thats for her.

 

[FourFlans]

OMG--I love that the bank does that. I might have to mention that to the school principal. DD8 (3rd grade) is doing a lot with money in school right now so it would be such a great addition!

 

[disney_me]

My DD is 9 and in the 4th grade. She loves it. I think the kids all take turns acting like the tellers. (with help) DD made her 1st deposit today. With her "extra" chore money. She hates to scoop the cat litter That pays the big $$ for her. She scoops it 2x day.

I say to her " SCOOP THE POOP! SCOOP THE POOP!!" She hates that

Don't worry anyone, again I do not make her. It's her choice to do that for extra cash.

 

[michelle8671]

We slowlt learned that the kids were not learning any value of money when we justgave it to them and didn't link it to jobs they done. At first they hated it but now they have to earn any money they want. Sometimes I may pay over the odds for a job well done. They really appreciate the things they buy now from the money they have earned. DS15 saved for a long time and bought himself a laptop and it means more to him than if we bough it for him.

 

[michelle8671]

[I say to her " SCOOP THE POOP! SCOOP THE POOP!!" She hates that

My 2 DD's have 3 ponies and have to go out in the fields picking up poo. They don't do it voluntarily so I say " COME ON POO PICKERS, GET THAT POO PICKED UP" They hate doing it too

 

[FourFlans]

 

[DisneyMomx7]

My kids get Disney dollars all year as presents - Christmas, birthdays, Halloween, Valentine's Day etc. Last year they had about $200 for souveniers each. We buy the girls a princess dress each trip and ds picked a Pal Mickey as his gift from us. THey also get "tinkerbelle" gifts each night. They don't have to buy snacks out of that money either.

THe $200 lasted for two weeks and they really boughts a few nice things instead of a lot of junk this time (except ds - he bought a lot of junk!). I do think they are learning how to budget their money pretty well now. We do this every trip and so far so good.

 

[FourFlans]

Oh, I so like the Tinkerbelle gift idea. I've got a small pink princess Christmas tree I picked up at Target to put in our condo while we're there. I think it would be so great to have Tinkerbelle visit some nights with special little surprises! Thanks for the lightbulb!!!!

 

[disney_me]

I agree They do appreciate things more when bought with their own money.


Anyone else with a creative way for children to save money??






OMG!! I can't wait for Disney