Comments on: Should You Give Children Cash For Christmas?

By: TStrump

TStrump — Mon, 15 Dec 2008 19:18:57 +0000

He’s actually a great kid and let’s face it, giving cash is really easy.
My biggest concern is that he is judging people based on the size of their gift.
Anyways, I will monitor the situation … thankfully, ‘No’ is one of my favourite words!

By: Carrie @ Moneysavingmethods.com

Carrie @ Moneysavingmethods.com — Sun, 14 Dec 2008 03:20:39 +0000

Thanks for the link backs.

In regards to cash, I do sometimes give money…but only if I can get free money.

For example, we used the $50 Sharebuilder accounts to set up for our kids and get the free $50 for each of them.

We then give them the money ( which we got free for their accounts ), BUT we use this money as life learners.

We always help them divide it out when thet get it. We take out what the need for church ( they have their own little envelopes ) so they can put it in the basket on Sunday. They love throwing their money in ( at this age, anyway ).

Then, we take out the appropriate amount for saving…which we take to their bank and they get to talk to the teller and deposit it. I explain it will be there when they need it someday.

Then, they get the remaining to spend on something fun.

It is so important to teach kids to give and to budget/save from the time they are young in this “spend, spend” society so it becomes a mind set as they become adults.

By: FFB

FFB — Sun, 14 Dec 2008 00:35:21 +0000

I think it depends on the kid. If he’s snotty and says to give him cash then maybe not but if he’s tough to shop for then maybe cash is ok. And what will the kid do with the cash. If I knew the kid was responsible and try to save it then I wouldn’t mind so much. I think cash is usually less personal but as I said I think it depends.

Thanks for linking back to the Carnival of Personal Finance!

By: PT Money

PT Money — Sat, 13 Dec 2008 18:07:54 +0000

I love cash. I think it’s great for kids. Other than that, I’d opt for a more specific consumable gift: movie or restaurant gift card maybe?

Thanks for sharing my article!