Money for Kids

[littlemermaid95]

I am hoping some of you experienced Disney vacationers can help me with something. We are going to be in Disney World next week, and are trying to figure out how much money to let our daughters take. All the extras, like souvenirs, we were going to have them buy with their own money. They each have over $300 saved with the intention of spending it on our trip. Is this way too much money for them to spend? They are 10, 8 and 6. Thanks!

 

[Tinker'n'Fun]

We physically held the $ for our kids with a little budget envelope. We would deduct $ from the envelope and give it to them as needed. The are 13 and 15 and neither of them spent over $100.00 including souveniers, extra snacks, and the arcade.

I feel that $300.00 is too much temptation to buy stuff they really don't need or want. I would consider bringing a smaller amount and if something comes up that really is expensive front the $ and get it from them when you get home. The more they bring the more they spend. It will also show them that they don't have to spend all their money and that is a great budgeting lesson for them...

 

[EthansMom]

I think $300 is too much.

For our trip, we gave DS7 and DD4 each $75 for toys/stuff. We bought all food, candy, and edible treats. I thought $75 was a reasonable amount of money... they were each able to buy 3 or 4 things, but had to make good decisions about their spending.

If I were you, I might only bring $100 of each girl's money.

 

[littlemermaid95]

Thanks for the replies. You both basically said just what we were thinking, or should I say what dh was thinking. Dh said this morning he thought $100 would be enough, I thought maybe we should let them each take $200. I told him I would post here, since it's such a good place for advice, and see what you guys thought. Dh said we could always let them spend more if there is something they really want, and they can pay us when we get home. They each have a wallet for their money, that I was planning to keep in my backpack.

 

[Tinker'n'Fun]

Thanks for the replies. You both basically said just what we were thinking, or should I say what dh was thinking. Dh said this morning he thought $100 would be enough, I thought maybe we should let them each take $200. I told him I would post here, since it's such a good place for advice, and see what you guys thought. Dh said we could always let them spend more if there is something they really want, and they can pay us when we get home. They each have a wallet for their money, that I was planning to keep in my backpack.

Sounds like you have a great plan. Just make sure to take the time to put the wallets back into your backpack and never rush a sale... I know it slows down the group, but it is important to take your time. I always made sure an adult was there for the transaction... (At Fantasmic show, DS bought himself cotton candy and gave the salesperson a $20.00. She only gave him change for a $10.00. He was afraid to say anything and DH had to chase her down). Also, make sure if they are over that they see it in writing... It doesn't register in their heads. HAVE A GREAT TRIP, Diane.

 

[YellowMickeyPonchos]

FYI - keep in mind that if they want clothes/a sweatshirt, it will run between$28 - $48. Since the oldest is 10, they may like those kinds of items.

I would say that would be the only thing to throw them over the $100 budget.

We got our oldest daughter a Disney gift card last year to put her spending allowance on. That way she could hand over her Mickey Card and feel like a grown-up. It was easier to stash in our wallet than a cash amount. Each receipt has the balance remainder printed on it, as well. You could put their name on the back of the card with a Sharpie to keep them straight.

 

[MickeyMomOfThree]

You may be surprised how "thrifty" they are when it is their own money. My kids do extra chores for money to take. They don't buy any (or at least very, very little) junk, and wind up buyihng wonderful things like snowglobes and Christmas decorations. They always come home with lots of their money left over. My middle daughter (age 9), is a great saver, and has about $250 saved. I don't worry at all about her wasting it, she had about the same on the last trip, she was 7, and wound up spending well under $100 including a $50 Ariel snowglobe for her sister. My oldest bought nothing as I recall, though she had over $100 (we got her a Tink sweatshirt). Even my youngest bought wisely except for an Ariel and Eric dancing wind up toy for like $3, but she still has it, unbroken, so I guess "junk" may be my opinion cause she is still pleased with her purchase.

Anyway, I would not let them carry all that money, but I also would be surprised if they want to spend all of it being that it is their own money (somehow our money is soooo much easier to spend! )

 

[jellybeans0607]

My 8yo had $210 when we went in Aug. She spent all of it. It was her mone yand she did chores for a year to save for it, so I wouldnt have told her she couldn't take it. Had she had more I would have let her take more.
Things do cost a lot there. A sweatshirt she bought was $40. A pair of earrings was $30. She wanted her hair wrapped...and thats not cheap!! I think it cost her about $45 with tip.
She also paid her own way when she wanted snacks that were above and beyond what we were supplying.