Teaching Kids the value of money

[Yasojack]

My sons birthday is in a couple of weeks he'll be Eleven, over the last three years i have been teaching him about saving and how to make and money doing little jobs etc.

With his Birthday just around the corner i asked him what he wanted for his birthday took a while to get but came back with a quad bike.

Unfortunately i decided because of what happens around these parts and the dis-respect for others belongings it was a no go.

So i asked him if he wanted to have the money or for us to buy something for him, he decided he'd like the money.

Knowing him to be sensible with his cash, and knowing he wants a party as well i am thinking of increasing his money so he can pay for his own party, though i am doubting my own decision.

Am i going to far?

[Pragmatic]

Knowing him to be sensible with his cash, and knowing he wants a party as well i am thinking of increasing his money so he can pay for his own party

By increasing his money you are paying for the party. He doesn't lose.

[Yasojack]

ye but he understands how much things cost.

Though saying that i not want to spoil his party.

[Rural Surin]

Is anyone here amongst your teakdoor family going to be invited to this splendid gala, Jacky......???

[Yasojack]

you means the TD insurgents.

Is anyone here amongst your teakdoor family going to be invited to this splendid gala, Jacky......???

[leemo]

He's not supposed to lose, that would be the worst thing to do. His dad is prepared to lash out, but is unclear how the extras should be disbursed.

I don't know the answer, much depends on the kid's attitude towards money and understanding of future needs and expectations.

Also, if Yaso gives him the money for his own party it's likely the kid doesn't comprehend specific 'party' needs and would need to be advised, coaxed and guided throughout, even though the final details should be touted as 'his' decisions.

imho not a bad idea, for confidence building, decision making, priority use of limited funds, and to get him looking at a wider picture.

[Yasojack]

nice answer Leemo he will be guided with whatever he wishes to do, though i want him to enjoy his day and not think to much.

[withnallstoke]

over the last three years i have been teaching him about saving and how to make and money doing little jobs etc.

i am thinking of increasing his money so he can pay for his own party

Seem to be sending out mixed ideals, teaching him to earn and save, then next teaching him how to throw a party using somebody elses cash.

Pay and organise the party yourself, tell him after the event if he wants a party next year the dirty car is outside and mum needs the dishes washing.

[Yasojack]

withnall when i give him the money its his money.


No one in the family uses blackmail to get him to do anything.

He goes out and does little jobs and earns cash, and is also praised for doing so

[withnallstoke]

withnall when i give him the money its his money.

I know.
But he didn't earn it in the sense that he didn't work for it.

Is the decision then up to him to spend it on a party, or save it?

[Camel Toe]

Give him the money for the party and have him sign an IOU, with a compounding interest clause of course.

Get him used to paying his debts. Or what a bitch it is to have debts. Or have him use the party as a guise to keep the kids and moms busy while you, your son and the dads, sneak into the smokey back room and shoot some craps so he can learn how to get that 4-wheeler he wants the easy way.

[Yasojack]

did you work for your birthday parties.? or were they given with your parents love.

withnall when i give him the money its his money.

I know.
But he didn't earn it in the sense that he didn't work for it.

Is the decision then up to him to spend it on a party, or save it?

[withnallstoke]

did you work for your birthday parties.? or were they given with your parents love.

Given with love, and i wasn't expected to learn any life lessons.

Your son will be eleven - just give him a birtday party without the bullshit - hell, give him the cash as a present (with love) whilst you're at it.


PS.
The withnall school of parenting is theoretical bollocks, having sired exactly none.
To be taken with a large dose of NaCl.

[Yasojack]

ok i'll green you for trying

[Dillinger]

The withnall school of parenting is theoretical bollocks, having sired exactly none.

I thought it was good sound advice.

Why teach him to save, then teach him to spunk his dough on lavish parties ?

Or even worse, he might save most of that party money and have a shit party with all his guests taking their presents back and him getting the 'kee nok,kee neow' monicker, like his Dad

Saving is a habit, don't break him off it now.

[Perota]

Value of money ? English is not my mother tongue but do you want to teach him the value of money or your values about money ?
Value of money ? Make him work for it, show him a certain amount of work is equal to a certain amount of money. Maybe help him to start his own little business like a lemonade stand.
Your values about money ? You're teaching him everyday the way you spend and invest your and your family money.
Birthday is about love and family, not about money. Give him what ever you feel he deserves.

[Camel Toe]

That's good ^

Teach him a birthday is a day of celebration. Can we celebrate without money? That is the lesson.

[Yasojack]

Thats a good post and agree

Though i like to give him a choice, he has the choice to spend the money or save it, whatever son does its ok with me.

Value of money ? English is not my mother tongue but do you want to teach him the value of money or your values about money ?
Value of money ? Make him work for it, show him a certain amount of work is equal to a certain amount of money. Maybe help him to start his own little business like a lemonade stand.
Your values about money ? You're teaching him everyday the way you spend and invest your and your family money.
Birthday is about love and family, not about money. Give him what ever you feel he deserves.

[withnallstoke]

I thought it was good sound advice.

Fancy a shag?

[kmart]

Instill some Victorian values into your lad. Make him sweep chimneys and pick pockets for some extra dough.

[Davis Knowlton]

I think it's hard for kids to grasp the value of money unless they are old enough to work for it. Until then, it's all theoretical. From about 11 or 12, I always had jobs - paper route, driving tractor and hay baler for the neighbor, waxing cars, doing lawn work...whatever I could find.

When you sweated on a tractor for the entire day for two or three dollars, it puts the cost of that new shirt you wanted right into perspective.

[Fozzy]

I don't really understand why he couldn't have the quad. Are you saying people would steal or break it?

Let the kid have his quad is my vote.

[Yasojack]

Thats the way i see it as well,he does work presently though in the village its limited to what he can do.

He does save his money, and gets a incentive when he makes so much.

I think it's hard for kids to grasp the value of money unless they are old enough to work for it. Until then, it's all theoretical. From about 11 or 12, I always had jobs - paper route, driving tractor and hay baler for the neighbor, waxing cars, doing lawn work...whatever I could find.

When you sweated on a tractor for the entire day for two or three dollars, it puts the cost of that new shirt you wanted right into perspective.

[Davis Knowlton]

^Yep. It's tough for kids to find any kind of chores to do other than meaningless little stuff around the house. In my community, everyone has household help, usually several, so paying kids to do jobs is a non-starter. My twins are almost 15, and generally clueless about money. Not spoiled at all, as their mother keeps a tight hand on funds - just far more clueless than I was at that age about the value of a buck.

[Yasojack]

Yes i see the same here,but he does have the differenet seasons for finding fruits mushrooms etc, son surprised me on how he's pretty smart with his money just hope he keeps going with it.