Tis the holiday season and my kids are already getting gifts of cash. We’ve always let the kids spend their money on whatever they’ve wanted – mostly because our youngest never spent his money on anything and our oldest spent it on food. But when they suddenly want to drop $50+ on a video game, I cringe. What do you think?
What you do when your kid gets a hefty sum of cash from a relative for the holidays and wants to blow it all on something that you consider wasteful, ridiculous or silly like a video game or beauty products or some gadget. Do you:
a) Tell your kids what they can buy with the cash? If so, what would you deem appropriate?
b) Make them save part of it?
c) Or, do you let them spend it all because it’s “their” money?
I want to hear your thoughts.
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