What is the money if your children's banks for? I am not talking about the savings accounts you have set up for them, but the money in their banks. (Unless you take that money and put it in the bank)

My kids get money from me when I come home from work... I give them my change. They also get some at their birthdays from relatives, and so on. We are about to take a trip to an amusement park at the end of the month. My 4 year old said she wanted to take her money to buy her goodies. (This park has REALLY nice gift shops) I dont have any problem with it. They will probably have 20$ each to spend. What do you think? I think it is a way of showing them how they saved their money and now they can buy something they want.

I ask because my MIL seems to disagree.

I think its a great idea. Since you know I have no kids yet you also know well enough you can just ignore my advice!

We are setting up 3 piggy banks, because my mom bought her three. I will use one for spending, one for saving, one for charity. The money in the spending I think is something that she should use for whatever she wants such as a certain toy or a treat, or like in your case goodies on a trip. It will help teach her that she saved up her money and now gets to do something fun because of it. A great way to learn the value of money.

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My kids both have piggy banks but they're the kind that you have to actually smash the glass to get them open. My Dh filled them both to the top with quarters...L.OL. I don't know if/when they'll ever smash them to get the money out...

My kids get an allowance and they do have cash in their wallets to use as they wish.

We put all our change in our kids piggy banks and typically we have just put the money in their savings accounts (and then eventually into their IRA's. However, last summer when we went to disney world, we let ds take his money and that is the money that he had for souviners and that worked well. DD is too little to know so her money is going to all continue to go into her savings account, but I think I am going to do the three piggy bank thing with ds, he has three anyway, and I think that is a great idea.

My kids have piggy banks too. We put much of our loose change in them. Once they are full, we take them to the bank and the money is sent into their college fund.

My bitty chick just rolled *with a lot of help* all her coins and traded them in at the bank for money to spend on our 'long trip' I think it's a great idea.

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