| Posted By |
Message |
| Pages: 1 [2] 3 4 |
Sweets13
Bella Bambini
Member since 5/05 9300 total posts
Name:
|
Re: When your child receives money for a birthday or holiday . . .
Posted by hazeleyes33
Posted by Sweets13
ALL monetary gifts goes into savings. Because my son is older than DD and had more affairs, he has a nice 5 figure savings account right now. DD's is not to shabby either. Even when my aunts or uncles drop them a 10 or 20 "just because" when they see them..it goes into savings.
How old are your children?
DS will be 4 in September and DD is 2. Why?
Message edited 8/4/2010 8:14:15 PM.
|
Posted 8/4/10 8:09 PM  |
| |
|
trish71407
LIF Adult
Member since 11/06 1206 total posts
Name:
Trish
|
Re: When your child receives money for a birthday or holiday . . .
All of his money is in a 529 plan for college. Thanks to many generous family members, he has almost 10K!
|
| Posted 8/4/10 8:09 PM |
| |
|
SoinLove
Making big changes
Member since 5/05 16541 total posts
Name:
Kristin
|
Re: When your child receives money for a birthday or holiday . . .
Posted by aliwnec10
Posted by SoinLove
Posted by aliwnec10
When someone gives you money for your birthday, does your husband steal it?  No and that's because it's not his. Same with your kids. 
So wait, if my kid wants to spend the money they received on a toy they've been eying, that's stealing?  Or are you only referring to people that spend the money on things their kid NEEDS?
No sorry that's not what i meant. My son is 2. So we haven't reached that age where he wants anything like that so i wasn't even thinking that way. Sorry if it came across wrong.
Yeah, I edited my post literally right before you replied . I totally get where you're coming from! 
|
| Posted 8/4/10 8:10 PM |
| |
|
Mimms
love my boys
Member since 4/08 2365 total posts
Name:
|
Re: When your child receives money for a birthday or holiday . . .
It goes directly to his savings.
|
| Posted 8/4/10 8:10 PM |
| |
|
MikesWife
Wanting...........
Member since 1/06 6887 total posts
Name:
Karen
|
Re: When your child receives money for a birthday or holiday . . .
For now it all goes into savings. As she gets older the percentage into savings and what she can keep will change.
For example, if she's 5, she can have $10 out of $100 to buy a toy.
As a teenager she can have $50 out of the $100 because stuff is more expensive and they fully understand.
I always want her to save some. I think it's an important lesson.
|
| Posted 8/4/10 8:11 PM |
| |
|
browneyedgirl
family is all that matters
Member since 6/06 6513 total posts
Name:
browneyes
|
Re: When your child receives money for a birthday or holiday . . .
for now, every penny goes to savings
|
| Posted 8/4/10 8:42 PM |
| |
|
Dani77
It's FUN to be ONE
Member since 7/09 4363 total posts
Name:
Danicia
|
Re: When your child receives money for a birthday or holiday . . .
Presently we only got money for when he was born...and at that point money was reeeal bad for us...so we needed to use it for diapers and formula, etc.... But we wrote down exactly how much we took, and are going to repay it all. Next up is his christening, and it will ALL be going into his savings. Once he's old enough to know what's going on and such, I will let him choose ONE big gift that is a certain amount of all the money he got on that holiday. I want him to learn how to save... unlike my DH who is HORRIBLE at it!! LOL
|
| Posted 8/4/10 8:46 PM |
| |
|
debsey75
My two best friends!
Member since 11/06 5879 total posts
Name:
Debbie
|
Re: When your child receives money for a birthday or holiday . . .
All their money gifts go into their own savings. DH and I contribute to their 529.
|
| Posted 8/4/10 8:49 PM |
| |
|
Ang-Rich
Beyond Compare
Member since 5/05 17988 total posts
Name:
|
Re: When your child receives money for a birthday or holiday . . .
Posted by Sweets13
ALL monetary gifts goes into savings. Because my son is older than DD and had more affairs, he has a nice 5 figure savings account right now. DD's is not to shabby either. Even when my aunts or uncles drop them a 10 or 20 "just because" when they see them..it goes into savings.
Same here and now I have to go through their pockets to check for cash from their grandparents after each visit before it gets washed...that goes into the bank too unless something specific was mentioned.
|
| Posted 8/4/10 9:40 PM |
| |
|
RandiG
Love my Boys!
Member since 7/09 4440 total posts
Name:
Randi
|
Re: When your child receives money for a birthday or holiday . . .
Save save save!
|
| Posted 8/4/10 9:44 PM |
| |
|
LSP2005
Bunny kisses are so cute!
Member since 5/05 19458 total posts
Name:
L
|
Re: When your child receives money for a birthday or holiday . . .
It goes into savings except when I am directed by the giver to use it for clothing or to purchase something that I think he would want. If there is no directive from the giver then it is put into savings.
|
| Posted 8/4/10 9:48 PM |
| |
|
Sweets13
Bella Bambini
Member since 5/05 9300 total posts
Name:
|
Re: When your child receives money for a birthday or holiday . . .
Posted by Ang-Rich
Posted by Sweets13
ALL monetary gifts goes into savings. Because my son is older than DD and had more affairs, he has a nice 5 figure savings account right now. DD's is not to shabby either. Even when my aunts or uncles drop them a 10 or 20 "just because" when they see them..it goes into savings.
Same here and now I have to go through their pockets to check for cash from their grandparents after each visit before it gets washed...that goes into the bank too unless something specific was mentioned.
I am always finding money in their pockets too You know what I do with the money my parents give to the kids? I write "love nonno and nonna" with the date on the bill and put it in their piggy banks. I look forward to the day they open up their piggy banks. God willing my parents will be around to see it
Message edited 8/4/2010 9:49:27 PM.
|
| Posted 8/4/10 9:48 PM |
| |
|
|
|
Re: When your child receives money for a birthday or holiday . . .
Posted by maybesoon
save all the cash. if we used it for stuff he needs he wouldn't have a penny it really adds up he is not yet 2 YO and has 5K
ditto on all points
|
| Posted 8/4/10 9:49 PM |
| |
|
Ang-Rich
Beyond Compare
Member since 5/05 17988 total posts
Name:
|
Re: When your child receives money for a birthday or holiday . . .
Posted by Sweets13
I am always finding money in their pockets too You know what I do with the money my parents give to the kids? I write "love nonno and nonna" with the date on the bill and put it in their piggy banks. I look forward to the day they open up their piggy banks. God willing my parents will be around to see it
Ro  LOVE that idea so much!!!
|
| Posted 8/4/10 9:50 PM |
| |
|
Bri
I Love You to Pieces!
Member since 5/05 9919 total posts
Name:
Brianne
|
Re: When your child receives money for a birthday or holiday . . .
I posted this because I always put it into savings. I had a conversation with someone I am close with that they would use monetary gifts to put towards the purchase of new clothes for the upcoming season. I never even thought to do this. Also it has been said to me- I didn't know what she needed so you can use this to get what she wants or needs.
I was wondering if the expectation of the gift giver of money was that people use it to buy the child things that they need or would like to have or if they know that chances are the parents put it away for the child. Since I never thought to use it at all and to just bank it, I wondered what others did. I guess I am not in the minority . . .
|
| Posted 8/4/10 11:08 PM |
| |
|
Donna
1 year already!!
Member since 5/05 3360 total posts
Name:
Donna
|
Re: When your child receives money for a birthday or holiday . . .
Posted by Bri
I was wondering if the expectation of the gift giver of money was that people use it to buy the child things that they need or would like to have or if they know that chances are the parents put it away for the child. Since I never thought to use it at all and to just bank it, I wondered what others did. I guess I am not in the minority . . .
If I know the parents want $$ to use for clothes/diapers etc then I usually give a gift card
for me any $$ my DS receives goes right into his bank account
to Sweets- that is such a cute idea about writing on the money for the piggy bank. Thanks for sharing!
|
| Posted 8/5/10 1:37 AM |
| |
|
Mom2010
LIF Toddler
Member since 3/10 384 total posts
Name:
Eclaire Lover
|
Re: When your child receives money for a birthday or holiday . . .
For the most part, it goes into savings. Recently she asked for a very expensive gift and we used her $$$ since it's not in the household budget to pay for it.
|
| Posted 8/5/10 1:50 AM |
| |
|
Merf99
LIF Adult
Member since 5/05 3380 total posts
Name:
|
Re: When your child receives money for a birthday or holiday . . .
All goes into savings.
|
| Posted 8/5/10 7:21 AM |
| |
|
Mommy2Boys
My Boys!!!!
Member since 6/06 14437 total posts
Name:
C
|
Re: When your child receives money for a birthday or holiday . . .
Savings unless it was given for a specific reason...my grandmother told me she is giving me money for DS's birthday for a mommy and me class so her money will go towards that.
|
| Posted 8/5/10 7:52 AM |
| |
|
ali120206
2 Boys
Member since 7/06 17792 total posts
Name:
|
Re: When your child receives money for a birthday or holiday . . .
Posted by azoodie
All checks and cash are going into his savings account.
Once he is older like pp said he will get to have a portion of it (5-10%) to use on what he wishes.
Same here.
|
| Posted 8/5/10 8:10 AM |
| |
|
smdl
I love Gary too..on a plate!
Member since 5/06 32461 total posts
Name:
me
|
Re: When your child receives money for a birthday or holiday . . .
Well, we don't have that many family members so I will admit that we do not save any of it. It's used for toys and stuff he needs.
But we also cannot have an account under DS name anyway. It has to do with his estate later on. We cannot have a will for DS, we need a special trust fund. Nothing can be in his name directly.
|
| Posted 8/5/10 8:11 AM |
| |
|
leighdvm
My golden boys!
Member since 3/06 4419 total posts
Name:
Michele
|
Re: When your child receives money for a birthday or holiday . . .
I always put it into their accounts
|
| Posted 8/5/10 8:12 AM |
| |
|
CrankyPants
I'm cranky
Member since 7/06 18178 total posts
Name:
Mama Cranky
|
Re: When your child receives money for a birthday or holiday . . .
All into savings unless the person told us to buy something specific with it.
My in laws with generally send a check to cover the cost of something (one year it was a little tikes swing set). In those specific cases, we follow through on there wishes. Otherwise, it goes into one of their savings accounts.
|
| Posted 8/5/10 8:38 AM |
| |
|
MarisaK
HELLO Manolo !!
Member since 5/06 14562 total posts
Name:
Marisa
|
Re: When your child receives money for a birthday or holiday . . .
Everything goes into his savings -
I even empty the piggy bank twice a year and put that into his account as well.
He's only 15 months old -
When he's old enough to get it - he can spend his piggy bank money, the rest goes into the savings account.
|
| Posted 8/5/10 8:43 AM |
| |
|
|
|
Re: When your child receives money for a birthday or holiday . . .
We save it. We then buy savings bonds with it and will put it away for them to use along with their college accounts, or for later in life (buying a house or getting married, etc). They will have no idea these exist either until that time.
|
| Posted 8/5/10 8:52 AM |
| |
|
| Pages: 1 [2] 3 4 |
