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Questions tagged [money]

Family finance, and how children learn to handle money.

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68
votes
16answers
6k views

Is bribing children with cash incentives a good idea?

I pay my 5.5-year-old $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 ...
22
votes
11answers
24k views

Is an expensive stroller worth it?

Strollers seem to come in all ranges of prices. From $100 to well over $1000 (sorry for the US-centrism, but I'd guess it is the same in other places). Given that this will probably be something that ...
14
votes
8answers
2k 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 ...
10
votes
2answers
389 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 ...
54
votes
12answers
12k 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 ...
21
votes
7answers
1k 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?
24
votes
11answers
20k 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?
23
votes
14answers
4k 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 ...
26
votes
11answers
16k 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 ...
15
votes
4answers
927 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.?
1
vote
1answer
201 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 ...
10
votes
2answers
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 ...
9
votes
6answers
3k 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 ...
0
votes
3answers
405 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 ...