Questions tagged [money]

Family finance, and how children learn to handle money.

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22 votes
6 answers
12k views

Can my 6 years old daughter be my business partner?

TL;DR: Can I buy second-hand toys, make them better with my 6.5 years old daughter and sell them for a higher price? Some context: This year for Christmas, Santa brought some Lego bricks for my 6.5 ...
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  • 369
6 votes
3 answers
223 views

Does free childcare have an effect on children's development and how much time parents spend with children?

Some countries have free nursery/pre-school from a very young age - it's compulsory in France from age three, for example. I'm interested in what kind of effect this has on children's development. By ...
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  • 161
5 votes
2 answers
227 views

Should you give your children allowance? [closed]

From my understanding, there are a few ways people approach giving economic opportunities to their children: 1. As a return for doing chores, 2. Simply a monthly allowance, 3. Allow the child to be at ...
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9 votes
3 answers
568 views

Ways to earn money for 4 years old

My 4-years old daughter recently started to ask for ways to earn money. I think this comes from watching the Duck Tales cartoons with Scrooge McDuck swimming in money, but she was interested in it ...
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  • 193
0 votes
2 answers
102 views

Fundraising ideas for a 10-year old [closed]

A 10-year old boy is making several trips this year and wants to help his parents with expenses, and I want to help him with that. He's already selling raffle tickets for each, which go into a ...
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5 votes
2 answers
578 views

How to explain to kids why others have better things?

I recently read an article about how kids' birthdays are becoming a huge deal and a status symbol for both parents and kids, which leads to kids whose parent can not or do not want to throw lavish ...
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  • 3,402
5 votes
1 answer
729 views

How can I make my parents understand that once I finish my studies, everything will be fine?

My parents are not highly educated. They have gone to primary school only. Also, my family's financial condition is poor. But now the condition is improving gradually. Fortunately, I am good at study. ...
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0 votes
1 answer
109 views

What are the options for day care and baby help for poor single mother?

A young woman expects a baby in few months, she is poor and she has no family in the USA. She lives in Boston and it's not an option to move away at this moment (education). Her salary is around 2K/...
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  • 1
0 votes
3 answers
570 views

Can my mother charge me money for not doing what she says?

When I don't do the washing up, or take out the trash, or whatever when mum asks, she charges me $10. I have a job, but am 17 living at home. I am wondering if she is allowed to make up fines for ...
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2 votes
3 answers
275 views

How to balance teaching that hard work pays vs chores for free

We made a conscious decision not to give our kids much pocket money: it seemed a bad life lesson to teach that lots of free cash gets handed out on demand. So far that's been okay, and they've learned ...
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  • 959
8 votes
3 answers
467 views

Should we give free pocket money to children?

It is common for parents to give children pocket money, but should we give them pocket money for free? I am thinking: Give them an average amount of pocket money, comparing to their friends / ...
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  • 1,059
68 votes
24 answers
27k views

Should I buy my college child a vehicle when I can afford to or make him earn it on his own?

I never got things handed to me growing up. I know what it means to have something. To earn something. I also want the best for my child. I want to provide a better life than what I had. What's a ...
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6 votes
1 answer
396 views

How can I help my kindergartener dress up for costume week on a budget?

My son's elementary school is doing a week with a different costume theme each day. I doubt that the theme is mandatory, as I can't imagine them requiring low income families to participate. That said,...
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3 votes
3 answers
826 views

Setting boundaries with parents regarding topics of conversation

My mom is very upset with me about how little money I make at my job. She's mad because I recently finished school and have a large student loan to pay off. I've asked her not to talk about these ...
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32 votes
10 answers
8k views

I want to teach my children the power of compound growth, what are some demonstrations that they can be a part of?

Like all parents, we want our children to lead happy lives. One of the critical components to that is giving them the mental tools and experiences so that they can make good economic decisions in ...
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5 votes
6 answers
1k views

My parents got divorced and want financial information from me

I live on my own and am relatively financially stable. A few years ago my parents got divorced. Things didn't go smoothly between them and they went to court a number of times. I never fully ...
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5 votes
1 answer
957 views

Family stress due to unemployment, ways to help my family?

TL;DR Dad's unemployment causing a lot of stress on my mum, who works a few part-time jobs and also manages the household. I want to offer help, but now sure how to. I want to know ways to alleviate ...
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  • 53
3 votes
1 answer
243 views

practice problems for an 8 year old

My 8 year old child attends a local Martial arts class where he has many good friends, and enjoys going. He is quite talented and works hard in the class, but receives little guidance and praise from ...
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  • 133
10 votes
4 answers
691 views

How can I decide whether to raise my teenage son's allowance?

My 14 year old son currently gets an allowance of $12 per week. He has no fiancial obligations that he has to pay from this amount, this is just for "fun" things. He does a list of chores, together ...
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  • 131
4 votes
5 answers
826 views

Will a child understand what's wrong about asking for things costing money and then not wanting them, when you confiscate some of their money?

Similar to this question, but not about behaviour. My son is 5 years old now, and I give him lots of choices that he is free to make on his own. A while ago, he started asking for certain foods (that ...
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55 votes
12 answers
13k views

What are the legal, emotional, and/or behavioral repercussions of confiscating money as a punishment?

Let's assume I'm a parent and that I use this punishment, for the sake of the question. The primary punishment I use to discipline my children is to confiscate money. It seems fairly effective in ...
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5 votes
4 answers
439 views

5 year-old is feeling charitable, but how do I help with direction?

Background My 5 year-old god-son recently revealed to me that he likes to help others, and in particular, when I gave him some money to buy himself a treat, he wanted to give the leftover money to ...
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  • 171
9 votes
3 answers
3k views

Mother won't let me buy a new car (cultural clash in parent-child relationships)

I am 37 years old male, married with kids (5,3,1). My parents are from the Indian subcontinent but I have lived in the US for most of my life. I have always been very close with my mom, ever after ...
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  • 1,219
4 votes
1 answer
2k views

What expenses should I pay for my 16-year-old daughter

I give my 16 year old daughter 1 dollar a day for keeping straight A's (90% or above in every class).  If she drops to a B in one of her classes, no dollar until she brings it back up (I check via the ...
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  • 53
0 votes
1 answer
577 views

How should a parent advise a relatively young son who chooses to retire early and be a loafer after he has achieved financial independence? [closed]

The son is in his early 40s. He has achieved financial independence after a decade of patient saving and investing despite a lacklustre career and even losing his job a couple of times. The father ...
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  • 1,567
3 votes
6 answers
1k views

Should I cancel child support? [closed]

I'm the father of an 11-year-old boy. I've had custody since he was ~1 1/2. His mom does not have her life together and probably never will. I was a single father at the time but have since remarried. ...
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8 votes
2 answers
279 views

What should I consider when getting tympanostomy tubes (grommets) for my child?

My son likely needs (tympanostomy) tubes for his ears for chronic ear infections. I was wondering what I need to know about them and maintaining them. For instance, I know it can limit your ...
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2 votes
4 answers
388 views

How to decide whether I should buy whatever the child asks for?

I never faced this situation when I was a child. My father tells me that I didn't have a habit of asking for things. I remember asking for 2 things as a child. They were expensive so my parents ...
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-4 votes
1 answer
204 views

What would make doing stuff with young children easier? [closed]

I think us families get ripped off when we go out and do things so I want to ask any mums and dads out there if they would join a club which gave them exclusive discounts to things to do, classes, ...
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10 votes
8 answers
13k views

How to convince an adult son that pot and LSD, even used sparingly is not acceptable

We have a child who has gone off to college and did not perform well his first year. We also found out during this time that he smoked pot in high school a little, and during his freshman year at ...
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  • 231
3 votes
1 answer
182 views

Bank Accounts for Allowance

I am looking for a bank to create sub account checking accounts, preferably with a check cards, for my children. I would like to be able to easily transfer money into these accounts for allowance and ...
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2 votes
0 answers
737 views

How much time, energy, and money should an adult child give to struggling parents? [duplicate]

I've got a friend who is asking me for some advice. He does very well. He is 26, owns a house, and has a really good technology career. However, his dad spent four years trying to find work and ...
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  • 231
10 votes
4 answers
2k views

How much should a 26 y.o. adult child assist their parents?

I have a friend who is a 26 year old single guy who makes a good amount of money, not six figures but a close amount. He bought a 3 bedroom house and has a solid career, and on top of his apps and ...
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  • 231
5 votes
4 answers
5k views

Should an adult pay rent to his child? [closed]

I always read about if adults should pay rent to their parents. For example, in this question. I also know that it's not easy to give one specific answer, there are even cultural matters involved. ...
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  • 1,222
10 votes
1 answer
2k views

My son has been offered money by a classmate, if he would pull down his underwear

My son, B., has a close friend, G., and a class mate, M. They are all eight years old. It has come to my attention that M. has offered G. money, if G. would hit himself. G. did and used the money to ...
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1 vote
1 answer
208 views

What is the average cost difference per year to raise a infant before schooling?

Bring in a new human being into the world and need to do some budgeting. Southern California, suburb of a major city. One income household with both parents. Don't know who will be watching the ...
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  • 121
11 votes
2 answers
448 views

Is rewarding hard work for chores with money necessarily a bad idea?

Growing up my parents had a system where harder chores like mowing the lawn, shoveling the driveway, and vacuuming meant that you got more money in your allowance every week. It worked great for our ...
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2 votes
3 answers
304 views

Is cryopreservation of sperm worth it for non-emergency “personal backup” purpose?

Last year I went to the cryogenic sperm bank and I got a few ampules of my sperm frozen. I did this for the reason that if I die anytime in the near future, and since I do not currently have ...
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  • 21
14 votes
5 answers
9k views

6 year old son gives money away (to parent, relatives, friends)

My 6 year old son has a bit of cash. Not much, like around 10 €. We don't give him pocket money yet, and he got this money by 'chance', for example he can receive the money when we empty the pocket ...
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  • 243
-1 votes
2 answers
418 views

Are there any concrete citations for the range of expected costs of raising a child? [closed]

Past Parenting.SE questions have asked about the affordability of having a child but didn't provide a specific estimate of what it actually costs. I found this USDA report, which estimates the cost ...
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6 votes
3 answers
2k 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 ...
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  • 161
-1 votes
2 answers
1k views

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

My girlfriend has a 2-year-old child from a past ex. The ex rarely visits his daughter, but the majority of the time he is there to sort of flirt a bit with my girlfriend. He does not know she is ...
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  • 179
27 votes
8 answers
19k 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 ...
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  • 371
11 votes
1 answer
710 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 ...
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  • 1,567
6 votes
2 answers
3k views

As a babysitter, how to approach parents about a raise and what is a reasonable charge in the USA?

I have been babysitting/cleaning for a family for about 2 years now. Basically nannying, but not full-time. This family has 4 children, all about 2 years apart. Oldest is 9 and the youngest just ...
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  • 622
10 votes
7 answers
5k 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 ...
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16 votes
6 answers
9k 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 ...
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  • 271
9 votes
3 answers
785 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 ...
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7 votes
3 answers
23k views

Are second-hand shoes safe to wear?

Are 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? Or are they too likely ...
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8 votes
6 answers
11k 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?
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  • 519