It's DD's money so she decides. She's good with money so I don't worry.

She's also rather young (6-yrs) so a bank account doesn't make much sense to her - it's too abstract. She likes to see, hold, and count the bills.

__________________
"I've been rich and I've been poor but independently wealthy is where it is at."

I wish when I was a child someone would have taught me how money really works. It would have made my life easier. I have explained to my children about money and how it works. They get to make the decision on what to do with their money. Normally they choose to put 3/4 of it in their savings and spend the rest. They don't need anything they just want things so I am trying to teach them the difference between those things too. I hope when they are my age they don't have the debt I have.

__________________
Want to save some green? Join a coupon train.

DS is only 2. This birthday he got $15 cash. We let him pick out a toy for $5 (he decided on a puzzle) and the $10 we'll put in his bank account.

__________________

Like Coupons? Come Join Us!
Join A Train

October Coupon Savings - $224.57

My DS is almost five years old and any money he receives he HAS to save half and the other half goes into wallet, but sometimes when his wallet gets too much he will ask to put it in his piggy bank (knowing we won't be taking it back out until we go to the bank), any even then he can't take it out till he's alot older.. He doesn't mind.. He enjoys it.

__________________
September Coupon Savings: $146.56
October Coupon Savings: $209.08

Countdown Clocks

DS is only three so for now, it all goes into his college fund. I don't know how we will do it once he is old enough to want to keep it to buy things. I like the 1/2 and 1/2 ideas mentioned above.

I would like them to put some of it in their savings account and spend some on whatever they like. However, DH strongly feels they should be allowed to make the choice. The result is that sometimes, they put it in their accounts because they want to save for something big. Most often, however, they want to hit Toys R Us or Claire's within the same week they receive the money!

My 10-year-old daughter decided after Christmas that she wanted a new bike. It hadn't even been on her wish list - she just decided. I had purchased a new one for her the previous year, so she was on her own She saved up all her gift money, did some comparison shopping with my help, and bought one. She was so proud of herself!

__________________
Attaining financial freedom is like eating an elephant . . . it takes one bite at a time.

ds gets to keep half or if he was saving up to buy something he can put it towards that. it just really depends if it's 10 bucks he can have it all.

__________________


fALL SEVEN TIMES STAND UP EIGHT!

Any cash they get goes directly into their ING accounts. Any GCs they get, they can spend as they wish.

My kids get way more GCs than cash.

__________________
SAHM of 4

August food budget (groceries/take-out): $500.00/$75.00
Total spent: $238.97/$14.12

July budget/spent: $500.00/$650.00

All their gift money goes into their personal investment and savings accounts...my parents did the same for me and I got it when I graduated from college. It was a great way to start out in life with a nice big nestegg! We're doing the same for our kids.

My kids aren't big spenders and they get allowance and it's just what we do in our house, so they don't complain about it. They always have more than $100 saved in their allowance, so when they do want things, they can easily buy it with their own money.

My kids put half in savings and half they spend.