This Summer Broke The Bank

[GOOFY4DONALD]

I need help for next summer (I know it is so far away but I'm upset...at myself mostly). My kiddos wanted and did so much this summer. The older they were the more they did (like my DD13 wanted to go to the pool 3-4 times a week at 8.00 a pop this is just an example of 1 of the things she wanted to do in a week). I need budget help for next year...and maybe a few tricks for the upcoming school year. Do you set a budget? What works best. We are planning a trip to WDW in 2012 and if I don't get a hold of the kiddos expenses I don't see that happening.

 

[Traveliz]

Does your pool have a summer pass?

Summer is expensive but I wouldn't want to forgo many of the activities.

I always had a "field trip" day which was generally Fridays when we did our big activity (zoo, museum, etc) and then had a picnic in the park (near a splash pad if you have younger kids is great)

Other days were pool days and we would buy the summer pass.

Liz

 

[GOOFY4DONALD]

No summer pass here. We have local pools that are 2.00 so that's not a biggie but DD13 will only go to the waterpark that is 8.00 plus inner tube and boogie board rental so ot usually ends up costing 15.00 per day

 

[Darcy03231]

Is there a way your DD could earn some of her own spending money during the summer? Then she could pay her own way to the waterpark if she didn't want to go to the $2.00 pool. I found this tactic worked well with my kids. They're very quick to spend my money, but if it comes out of theirs, then the expensive outings aren't so important after all.

 

[drgnfly30]

No summer pass here. We have local pools that are 2.00 so that's not a biggie but DD13 will only go to the waterpark that is 8.00 plus inner tube and boogie board rental so ot usually ends up costing 15.00 per day

Do you have to rent their equipment? If not it would be cheaper in the long run to buy your own & bring it.

 

[clh2]

While you need to set your budget - I would put your DD on one too for next summer. Possibly give her a certain amount per week, and let her decide how best to spend it...but when it is gone - it is gone. IMHO - when kids get money to spend (i.e. in this case - the entertainment budget) they think twice about it, and start to make better decisions.

Your DD will be 14 by next summer. Are there any opportunities for her to babysit to earn some of her own spending money?

 

[tink15823]

Give her the cost you would for the pool at $2.00 per day for the week . If she choices to go to the higher priced park she has to come up with the extra money. I give my kids a set amount of money if they want something more they have to earn it. This year they had staycation Bonfires and camping in the back yard with friends. We did out door movie night were they could invite friends rent movies from redbox and we did are own out door theater. It was great not only did we not break the bank but we could have a ton of kids at the house. We also did hikes and we have a zoo pass for the year.

 

[21yankees]

While you need to set your budget - I would put your DD on one too for next summer. Possibly give her a certain amount per week, and let her decide how best to spend it...but when it is gone - it is gone. IMHO - when kids get money to spend (i.e. in this case - the entertainment budget) they think twice about it, and start to make better decisions.

Your DD will be 14 by next summer. Are there any opportunities for her to babysit to earn some of her own spending money?

Second this.

I understand wanting to your kids/family to be able to do things over the summer. To me though $8.00 for 1 person to go to the pool a day is a lot (for my budget) especially when you're saying she was going on average of 4 days a week. $32 a week is a lot for going to a pool. JMHO because everyone's finances are different.

 

[GOOFY4DONALD]

While you need to set your budget - I would put your DD on one too for next summer. Possibly give her a certain amount per week, and let her decide how best to spend it...but when it is gone - it is gone. IMHO - when kids get money to spend (i.e. in this case - the entertainment budget) they think twice about it, and start to make better decisions.

Your DD will be 14 by next summer. Are there any opportunities for her to babysit to earn some of her own spending money?

My DD is willing and able to get a summer job. She is very responsible and wants to babysit. It's just so hard for her to find clients. All of my friends, and hers, have kids that are close to her age (so they can babysit younger siblings) or are the youngest in their families.

 

[GOOFY4DONALD]

Second this.

I understand wanting to your kids/family to be able to do things over the summer. To me though $8.00 for 1 person to go to the pool a day is a lot (for my budget) especially when you're saying she was going on average of 4 days a week. $32 a week is a lot for going to a pool. JMHO because everyone's finances are different.

It was 8.00 just to get in the door, then 4.00 for tube rentals (you cannot bring in your own as a pp suggested) and a few dollars for snacks. This usually totaled 15.00 roughly 4x's a week. Then she wanted to go to the movies about 2x's a month. There are other things but these things alone cost approx 300.00 per month. Add in DD11 that went at least once a week.

 

[momx2]

I would put her on an allowance year round. You might want to increase it in the summer or not. I would set an allowance amount and she could spend as she sees fit, but once it's gone, it's gone. I also would not be sending her to the water park 4 times per week.

 

[disneymarie]

Give her the cost you would for the pool at $2.00 per day for the week . If she choices to go to the higher priced park she has to come up with the extra money. I give my kids a set amount of money if they want something more they have to earn it. This year they had staycation Bonfires and camping in the back yard with friends. We did out door movie night were they could invite friends rent movies from redbox and we did are own out door theater. It was great not only did we not break the bank but we could have a ton of kids at the house. We also did hikes and we have a zoo pass for the year.

WOW I love this.
I don't know why I feel like I have to give what I have to dd, why I can't set the limit and then let her decide how she chooses to use it.
GREAT IDEA.

 

[clintswifeymomof4]

One way we were able to keep our summer spending in check was to buy livingsocial and groupon deals for activities and experiences as they came available. I started looking prior to the summer and made sure the expiration dates were far enough away that we could still enjoy them during summer break.

The other way I kept spending in check was to say NO. That seemed to help.

 

[Madison'smommy]

I would also have DD do some things to earn some of her own money. $15 a day several times a week is alot, IMO. I know summer costs alot, maybe you could either tuck away some cash every month/week etc or open a savings acct and put aside a certain amount every month just to be used for the summer break.

 

[squirrel]

She is old enough to budget her own summer activities.

Figure out how much $ she can have each month and have her figure out what activities she is going to do with the $. She may have to start by doing weekly amounts.

I bet she will start looking harder for some ways to save $.

There are plenty of other ways for her to make some extra cash: car wash, dog walking/bathing, recycling soda cans, etc.

 

[indimom]

I need help for next summer (I know it is so far away but I'm upset...at myself mostly). My kiddos wanted and did so much this summer. The older they were the more they did (like my DD13 wanted to go to the pool 3-4 times a week at 8.00 a pop this is just an example of 1 of the things she wanted to do in a week). I need budget help for next year...and maybe a few tricks for the upcoming school year. Do you set a budget? What works best. We are planning a trip to WDW in 2012 and if I don't get a hold of the kiddos expenses I don't see that happening.

No summer pass here. We have local pools that are 2.00 so that's not a biggie but DD13 will only go to the waterpark that is 8.00 plus inner tube and boogie board rental so ot usually ends up costing 15.00 per day

My DD is willing and able to get a summer job. She is very responsible and wants to babysit. It's just so hard for her to find clients. All of my friends, and hers, have kids that are close to her age (so they can babysit younger siblings) or are the youngest in their families.

It was 8.00 just to get in the door, then 4.00 for tube rentals (you cannot bring in your own as a pp suggested) and a few dollars for snacks. This usually totaled 15.00 roughly 4x's a week. Then she wanted to go to the movies about 2x's a month. There are other things but these things alone cost approx 300.00 per month. Add in DD11 that went at least once a week.

Yikes! The waterpark alone is $240 a month. That's a car payment!!

Kids generally do not see the big picture when they are spending $10 here or $5 there. I think you need to sit her down and detail how much money this is. Then she needs to find a way to supplement whatever amount you find reasonable to "give" her for entertainment purposes.

If babysitting is not an option, maybe she can earn it in other ways. Make her your coupon clipper/sales finder/meal planner. Whatever she manages to shave off your food and household budget could go toward some of these entertainment options.

Let her look for more cost effective entertainment options also. Maybe her waterpark has half-price afternoons on their slow days (we have that option here). Maybe she could wait a little longer to see the movies she likes and go to the "cheap seats" theatres. That easily saves $5 a ticket (or more) around here.

Also, check out how much you spend on other entertainment type expenses. Do you have/need the big satellite package? Could you shave some off that budget and put it toward these other activities. Are the kids willing to eat from home (and help with that ) in order to put some of the "eating out" money toward their summer fun. Work with your kids to come up with a plan you can all live with.

Good Luck. I don't blaim you for wanting to trim these expenses a bit, But, if an actual work position is not available for her to bring in extra cash, then you'll have to get creative and find/save it somewhere else within your current budget.

 

[poohfriend77]

Not to go too far off subject here, but if your DD really does want to start baby-sitting, she should find volunteer opportunities that involve children. Depending on her beliefs and interests, she could help with a Sunday school class, coach a youth sports team, help with storytime at the library, etc. Parents will see she's a good, responsible teen, the kids will fall in love with her, and I'll bet she'll start getting job offers from the families she works with.

 

[GOOFY4DONALD]

Not to go too far off subject here, but if your DD really does want to start baby-sitting, she should find volunteer opportunities that involve children. Depending on her beliefs and interests, she could help with a Sunday school class, coach a youth sports team, help with storytime at the library, etc. Parents will see she's a good, responsible teen, the kids will fall in love with her, and I'll bet she'll start getting job offers from the families she works with.

This is a great idea. I am taking her to a back to school day today and I will have some time to talk with her alone in the car.

 

[GOOFY4DONALD]

Thanks to everyone that replied. I think I am going to take her down today and open a teen checking account at my credit union. I have toyed with this idea for a long time. She will get an Visa debit card and I can show her how to balance her account...without the fear of her overdrawing. I can deposit her allowance in there and keep track of her spending. Now I do have one more question. Obviously since her summer expenses (actually she has been costing me an arm and a leg since early spring) have been quite costly I have not given her a regular allowance for some time. What would a regular but fair allwance be for a DD13 (turning 14 next Sunday)? We pay all of her necessities.

 

[crisi]

Not to go too far off subject here, but if your DD really does want to start baby-sitting, she should find volunteer opportunities that involve children. Depending on her beliefs and interests, she could help with a Sunday school class, coach a youth sports team, help with storytime at the library, etc. Parents will see she's a good, responsible teen, the kids will fall in love with her, and I'll bet she'll start getting job offers from the families she works with.

And if she wants to earn money, have her print up a flyer. She can weed flowerbeds, mow lawns, pet sit for people on vacation. She can have a garage sale at the beginning of the year and get rid of her old stuff to fund her summer. My kids do a start of the year garage sale - they (and my mother) do all the work, they get all the proceeds. We don't make a ton of money, but they make some pocket money for the summer.

It really sounds like your daughter needs to become familiar with the words "we can't afford that" As in "we can't afford $15 a few times a week for you to go to the waterpark." And she needs to learn the value of a buck. She'd have to work for a full time week at minimum wage to pay for her month of fun (and that is before she has SS taken out of her check). Do her the favor of having her figure this out before she ends up a grownup who lets $15 slip out of her fingers all the time and then says "I can't cover rent."