Family finance, and how children learn to handle money.

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47
votes
15answers
2k views

Is bribing children with cash incentives a good idea?

I pay my 5.5yo $1 if she sleeps in her own bed and take $1 in rent when she sleeps in our bed. I've also taken to offering her $1 to pick up her 2.5 year old brother's Lego messes. Good or bad? ...
27
votes
10answers
2k views

At what age should you start giving your children pocket money?

I think pocket money is a great method of educating your children in financing, but at what age should you start and under which condition?
21
votes
13answers
3k views

Are modern cloth diapers really cost efficient compared to disposible diapers?

Are modern cloth diapers such as gDiapers or bumGenius really cost efficient compared to disposible diapers? It seems the diapers themselves are quite expensive and then you have to include the cost ...
18
votes
9answers
642 views

How do we teach a pre-schooler about money and shopping?

When I go to a store with my four year old son he wants to buy a lot of stuff he sees. Also he constantly claims that he needs a new toy. How do I explain to him that we can't buy everything we want?
18
votes
9answers
5k views

Should adults pay rent if they live in their parents' home?

If your grownup children still live at home, should they share cost of living in the common household?
13
votes
5answers
795 views

Mother in law making us feel guilty about money

We have a mother in law who always makes uncomfortable comments about things we've purchased, such as our TV. We're a single income family with two children living in an apartment. We have no debt ...
13
votes
5answers
492 views

How to deal with a teenager who wants his parents to buy him everything his friends have?

How do I teach my son the value of money and to differentiate between a need and a want? The problem I am facing is that he is 19 years old, not 5 years old. He is my youngest son and to be honest I ...
12
votes
6answers
386 views

How should I respond to a child asking to have as much spending money as her friends do?

When a child has some close friends at school, but some of them come from relatively richer families, so they get maybe twice my child's pocket money, how should I answer when he complains and asks to ...
12
votes
9answers
1k views

What are the basic items we should buy to receive our new baby?

We've being looking online for a to buy list of basic items we should buy before having a baby. We are planning to move so we want to buy just the basic needs.
11
votes
6answers
971 views

Can we afford to have a baby?

I'm not a parent (yet!), but the wife and I are seriously thinking about starting a family. We both really want kids, but I'm just worried about the financial strain a baby could have on us. Am I ...
11
votes
4answers
542 views

What are the biggest expenses for a new baby?

My wife is expecting, and as we plan, I want to know if there is anything that people were surprised by how expensive it is, or didn't realize they would need to pay for?
10
votes
3answers
233 views

What factors should you consider when deciding how much to pay a babysitter?

What factors do you consider when deciding how much to pay a babysitter per hour? The time of day, meals, duration, travel, etc?
8
votes
3answers
410 views

How can I teach my kids to be less egocentric?

My older kids (9 and 12) can be very me-centric. For instance, we recently won a small amount of money from a contest, my now 12 year old immediately suggested that we spend the extra money on his ...
8
votes
1answer
159 views

Is it fine for parents to ask for allowance from children? How to do it tactfully?

Most elderly folks do not have an income. The children's education cost a bomb and have injured their retirement funds. In traditional Asian societies, it is a norm that children repay their parents ...
7
votes
3answers
264 views

How to kick a twelve year old's shopping “addiction”?

My family has never had much money, so I'm quite concerned about my sister's shopping habits. I assumed it was quite average behavior for a young girl to plead for money for the school book fair, the ...
7
votes
4answers
3k views

Is it better to get an infant car seat or a convertible?

Is it better to get an infant car seat or a seat that converts from one stage to the next? Is there any benefit to the infant car seat that justifies paying for an infant car seat and a toddler car ...
7
votes
3answers
223 views

How do you pass hand-me-downs to a younger sibling without fostering resentment?

A recent blog entry that I read discussing hand-me-downs made me wonder about what it must be like to a younger sibling who receives the bulk of their clothes and/or toys as hand-me-downs, recycled ...
5
votes
2answers
140 views

What are important legal and financial steps for new parents?

What are the most important legal and financial steps for new parents in the US? For example, establishing a will, purchasing life insurance, setting up a college fund, etc...
4
votes
7answers
356 views

How can I get my kids to spend wisely?

I have been giving my kids monthly allowance to buy their food (lunch) and other school materials. However, recently, I noticed they are spending their allowance on those "gundam cards" So, how do ...
4
votes
1answer
132 views

Getting paid for babysitting

I'm not sure if this is the right place to ask this question, so feel free to direct me to another site if you know where I should go. I have been babysitting/cleaning for a family for about 2 years ...
3
votes
1answer
140 views

Don't know what I feel toward my parents

I am a little bit confused about the feelings I have toward my parents. Since my parents started to have some problems with money the peace in my family was gone. They started to blame their children ...
3
votes
2answers
785 views

Are second-hand shoes safe to wear?

Are hand-me-down and second-hand shoes safe to wear? For adults — and especially for children. Kids' feet are always growing. When the proper precautions are taken, are second-hand shoes safe? ...
2
votes
2answers
481 views

What age should I encourage my kids to start working and earn his/her money?

At what age should I encourage my kids to go out and find a job (be it part-time or full-time) and start to earn some money and have a taste of what working life is like?
2
votes
0answers
67 views

Money for good grades? [duplicate]

Possible Duplicate: Is bribing children with cash incentives a good idea? Is it appropriate? Good, because action-result chain is clear? To get something, you should work; your work now ...
-1
votes
2answers
168 views

I am not sure how I can help my girlfriend. Looking for some guidance [closed]

SO, long story short my girlfriend has a child, age 2, from a past ex. The ex rarely visit her daughter, but majority of the time he is there to sort of flirt a bit with my girlfriend, he does not ...