I had an interesting afternoon. Someone had given us a gift certificate for a local mall. I gave it to dd (age 8) and told her it was her back to school budget. She went to gap kids first, took one look at the price tag and said, "That's outrageous! That would use up too much of my money on one thing!". She then proceeded to find the sale rack in all of her favorite stores and buy everything within budget. I wish I could say it was my idea ... but it worked! Next year I'm giving them a gift card and letting them do their own shopping. It was a great lesson in budgeting.

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Way to go, Mom!!

I wish my Mom taught me about budgeting

I have never done this with clothes, but think it is a great idea! I do this when we go fun places, the zoo, amusement parks, wherever. I let the kids bring their own money and tell them ahead of time that I brought our lunch and drinks and if they want anything else they have to buy it. My girls almost never buy anything plus it also eliminates the idea that they each need to have the same things...one will spend while the other two save and vise versa...DH and I love it!

I have found that giving your kids control over the money with a limit is a great teaching tool. My girls (ages almost 9 & 7) are great with the gift cards. The only thing they get irritated about is tax!!

Good for you that it worked out well. That is a smart cookie you have there.

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Grace

Wife to Stoney

Mommy of Sarah (9), Hannah (7.5), and John(5)

That's a great idea. She would make any mother proud!

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Wow, great idea/s! I've got to file this away for down the road when they get older...although my 4 year old does already have his piggy bank more then full...never to early to start, right?!

Sounds like she did great.

tonight my girls each brought 15$ to spend at build a bear it does teach them that they ned to think about what to buy

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Kelly mom to 3 great girls

When I was in school (before babysitting age), my mom would take us to pick peaches and tomatoes for the local farmers. She would keep track of our bushels and would divide up our pay accordingly. This was our back to school money! How much we earned was in direct corellation (sp?) to how much we worked!

I have been paying DS $1.00 for every book he reads as a way of creating income for him. I have noticed that he is MUCH tighter with his money than he is with mine!

Marlene

Lol! That's the way mine are - they will ask for things but once it's clear they would have to spend their own money, they no longer want it...