Strategies for kids spending money

[aarmando20]

I just wanted to start a thread to see what everyone does to save their spending money when at the world.

Last year I started giving my 2 boys a 10$ a week allowance but I give them the money in disney dollars. They seem to really enjoy this and it has become something they look forward to. Every week they ask who is on the money and keep a tab on how many Mickie, Donalds or others they have. They both have a wallet they use just for disney dollars.

What does everyone else do to save their spendng money?

 

[KELLMILL]

We were there in August this year, and one thing I noticed is that all the items for sale in the parks are at the stores in Downtown Disney. So we spent the time at the parks doing the rides and shows and then went to Downtown Disney to let the children spend their money.

 

[stm61]

I didn't like the idea of handing my younger kids a wad of bills to carry around all day. Plus, if it's in their pocket it gets spent immediately. I thought about putting their money on a visa charge card, or whatever they're called, the ones where they can only spend up to the amount on the card. I could just load each kid's card with the amount they've saved and not have to remember who I gave what amount to each morning. My bank only has American Express cards, no Visa's. Does anyone know if WDW takes the Amerian Express charge cards?

 

[fjennell]

where do you get Disney Dollars from? thanks.

 

[disneyplanningdad]

where do you get Disney Dollars from? thanks.

I always go to the local Disney Store before a trip and trade cash for Disney Dollars. It is a great budget strategy. My DS's gets a certain amount each day that he can spend however he wants. He can get a souvenir everyday, he can get a snacks or both OR one of our favorite life lessons was when they figured out that if they didn't spend the Disney $ that day they could spend twice as much the next day or three times... Who would have thought that being at Disney would be a way to teach the boys how to SAVE money.

 

[aarmando20]

where do you get Disney Dollars from? thanks.

I always pick them up at the local disney store also but will change up the bill types. Some weeks they will get a $10 some weeks 2 $5's and so on.

 

[buzzgirls&dad]

We give our DD a $5 allowance each week. She usually saves it all for our WDW trip but will also use some if we go to the mall. For Birthdays, Holidays etc. she get Disney Dollars and family will give cash or DD as well. She also keeps her own change jar. Whatever money she has she can spend Appox $200. When it's gone... it's gone. I will buy her a t-shirt or a few pins as she is a collector not a trader. The biggest thing she spends her money on are the pearls in Japan. When she is old enough I will have a beautiful necklace made for her.

 

[IggyLans]

I didn't like the idea of handing my younger kids a wad of bills to carry around all day. Plus, if it's in their pocket it gets spent immediately. I thought about putting their money on a visa charge card, or whatever they're called, the ones where they can only spend up to the amount on the card. I could just load each kid's card with the amount they've saved and not have to remember who I gave what amount to each morning. My bank only has American Express cards, no Visa's. Does anyone know if WDW takes the Amerian Express charge cards?

If the money is for WDW only, why not get a Disney Gift card, and load it up with the amount you want.

 

[shyjade]

If the money is for WDW only, why not get a Disney Gift card, and load it up with the amount you want.

That's what I'm doing for DD10 this year. I ordered it from the Disneyland website because they have adorable cards to choose from (I got her Tink, as we are both Tink fanatics). I like that each receipt will show her remaining balance so as she makes purchases, she will always know what she has left.

Before our trip, if she wants to bring her own spending money along (above and beyond the amount I am giving her on the card), she will give me the cash and I will have that amount added to her gift card. Right now she saves a portion of her weekly allowance for Disney.

Also, I will be taking a picture of the back of the card (like I do with the PhotoPass cards) so if it gets lost, hopefully we can recover the balance.

 

[Darcy03231]

My kids are older now so I really don't need to supervise their spending. When they were little they had a set amount to spend. Each day they could look and we kept a list of what they wanted, where it was and how much it was. At the end of the week they did their shopping. This eliminated buyer's remorse when they found something else they liked better. By doing it this way they also cut back on what they bought as they we're allowed to keep any leftover money.

 

[nlesl2000]

We tell our kids they can pick their item at the end of the day-so noone has to carry something around all day. This year I think we will tell them that they can shop in Downtown Disney. My daughter saves her money. Last year she bought the whole Jasmine ensemble including extra wig shoes and accessories with her own money! It was nice because I thought it was too pricey-but she was just thrilled to be able to get what she wanted without having to ask! I like the idea of the gift card from Disney, but I really like her to see the money she is spending (she is only 7) so she gets that once she hands it over-it's gone!

 

[DavyCrockett]

Gift cards are a great way to go. My two oldest children had gift cards on our last trip. It helped reign in spending. My daughter even came home with some money left over.

 

[loopner67]

We give our kids a limit that they can spend throughout the week, but we hold the money. I like the idea of Disney Dollars, but I'd be afraid that they'd lose the money (they are 7 & 9).

We *have* to put the limit on what they can spend or else our youngest wants to shop the whole time. Once his money is spent, then he'll want to help his brother shop.

 

[shyjade]

We *have* to put the limit on what they can spend or else our youngest wants to shop the whole time. Once his money is spent, then he'll want to help his brother shop.

I wish my DD10 would spend her money quickly. She always wants to shop, shop, shop, but never buy (till the end). We waste so much time "browsing", I wish she'd just spend it all right away and be done with it!

 

[MareSINY]

I created reward charts for my two nieces. The younger one fights doing #2 of the potty, so for her she got a little Mickey sticker every time she went. The older one had an aversion to brushing her teeth so she got one every day that she brushed her teeth. The weekend before the trip we counted up all the Mickey stickers and went to the Disney store and bought them their Disney Dollars. We held onto the money and gave it to them whenever they wanted to buy something. It really worked out well.

 

[shyjade]

I created reward charts for my two nieces. The younger one fights doing #2 of the potty, so for her she got a little Mickey sticker every time she went. The older one had an aversion to brushing her teeth so she got one every day that she brushed her teeth. The weekend before the trip we counted up all the Mickey stickers and went to the Disney store and bought them their Disney Dollars. We held onto the money and gave it to them whenever they wanted to buy something. It really worked out well.

Wow, I wish I could get Disney Dollars for going #2!!!

(Sorry, I couldn't resist saying that! )

 

[3girls4me05]

We gave them each a budget (they earned this though chores etc.. before leaving) and we held the money but gave them charging privledges on their KTTW card. When you get a printout from the front desk it shows you which card charged what. We used that to see how much they spent and keep track of their remaining balance. Worked out very well.

 

[cab333]

We also give the kids Disney Dollars - which aren't easy to get when you live in Canada these days! For each trip, a few months before we purchase each of the kids a jar, and we have a night where we decorate our jars with stickers and whatnot. All of the jars are sitting on the fireplace now, on display....each of the kids have a Disney Calendar which is personalized with countdowns and family birthdays and fun things like that. Each day, if the kids have had a "good day" they get a sticker - and Sunday evening we have some Family time and dish out Disney Dollars according to the week that they have had. It is a nice tradition that I see us doing for years to come.....

 

[shyjade]

We gave them each a budget (they earned this though chores etc.. before leaving) and we held the money but gave them charging privledges on their KTTW card. When you get a printout from the front desk it shows you which card charged what. We used that to see how much they spent and keep track of their remaining balance. Worked out very well.

I used to do that for my DD but it got too hard to monitor what she was spending. With the gift card, the "remaining balance" is shown after each purchase.

 

[Brooknwdw]

We are going in a week..my DS12 has $60, my DS10 has $80..he is a better saver!
I told them a few months ago they needed to start saving their allowances, and any money grandparents give them.
I will hold their money and charge everything on the KTTW card. I'll have to keep tabs on it and warn them when they are almost out of money!
It will probably all be spent at the LEGO store in Downtown Disney!