Parents giving my 7 yr old $100 for his birthday, acceptable?
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Parents giving my 7 yr old $100 for his birthday, acceptable?
Posted by Gaston on 5/23 at 9:00 am
We're trying to teach my son about saving his money for little cars and toy guns and whatever he wants, and trying to implement some sort of chore vs payment (allowance) thing. My folks put a $100 bill in a birthday card and my wife and I are on the fence about giving it to him. We're working on the order of $3-8 and what that buys and how you need to save your money if you want that little motorcycle, just some appreciation that things cost money. $100 is going to blow this whole thing out of the water.

What would you do with the card and money?



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Posted by wish i was tebow on 5/23 at 9:01 am to Gaston
just give him a small amount put the rest in an account for him or something


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Posted by ForeverLSU02 on 5/23 at 9:01 am to Gaston
Put it into a savings account for him


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Posted by Doldil on 5/23 at 9:01 am to Gaston
put it in to his piggy bank secretly or something if you're worried about it, but it's the kids money he should get to keep it...


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Posted by LSUsmartass on 5/23 at 9:01 am to Gaston
Let your kid be a kid and give him the money


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Posted by Hacker on 5/23 at 9:01 am to Gaston
Start a savings account in his name

Better yet, go put it all on red and try and double his money


This post was edited on 5/23 at 9:03 am

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Posted by BOSCEAUX on 5/23 at 9:01 am to Gaston
Always bet on black


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Posted by Crawdaddy on 5/23 at 9:01 am to Gaston
make him save $90 bucks of it


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Posted by Brightside Bengal on 5/23 at 9:01 am to Gaston
Free money.......no thanks.

Holy hell you are dumb.



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Posted by Dooshay on 5/23 at 9:02 am to Gaston
Make him start a savings account.

quote:

$100


Parents have physics degrees also?



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Posted by Brettesaurus Rex on 5/23 at 9:02 am to Gaston
I would tell him that half (or more) will go to savings and he can either save or spend the other half.
I wouldn't force him to not touch any of it, it is still a birthday present. But I think that would allow him to enjoy it but still teaching the lesson



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Posted by mylsuhat on 5/23 at 9:02 am to Gaston
My grandparents gave us $100 every birthday and Christmas... we were never allowed to spend it


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Posted by Lsupimp on 5/23 at 9:03 am to Gaston
Skittles !


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Posted by Eureka on 5/23 at 9:03 am to Gaston
Dude, just make it clear it is a birthday present. He's 7 so I'm sure he can understand it is a one time deal and he won't be getting hundred dollar bills every week.


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Posted by The Sad Banana on 5/23 at 9:03 am to Gaston
$100 is acceptable. I don't see what's wrong with it. If it were me, however, I'd explain to him that birthdays and special holidays are exceptions to the rule, but he still has to be a good boy to get good things.


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Posted by ctiger69 on 5/23 at 9:03 am to Gaston
$100! I would thought I won the lotto at 7 years old. When I was 7 my weekly allowance was 1 dollar a week.


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Posted by LsuTool on 5/23 at 9:04 am to Gaston
give it to him and tell him he needs to expand his portfolio.

When he gets large amounts of money, it needs to be saved for imporatant things and put it in some type of account for him. Let him know the other $5-$10 gifts are for him to save up and do with what he pleases.



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Posted by WikiTiger on 5/23 at 9:04 am to Brettesaurus Rex
quote:

savings


da frick is that going to do? he'll make 0.5% interest while the inflation rate is "officially" 2-3% but realistically between 8-12%.

he'll be losing money if he doesn't invest it in something that is inflation proof.

frick it, i say let him blow it all on whatever a 7 year old's equivalent of coke and hookers is


This post was edited on 5/23 at 9:06 am

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Posted by WilsonPickett on 5/23 at 9:04 am to Gaston
Lil' Gaston gonna be a baller with a load of little motorcycles!!

Let him be a kid, save some and let him buy something he wants!



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Posted by cattus on 5/23 at 9:05 am to Gaston
Get advice from your parents


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