Reply to Affluent parents -how do you handle money and your kids?

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[quote=Anonymous]We both grew up like your husband and are fairly well off now. Three kids. We aren't that indulgent except with activities and experiences. Our kids know that they are expected to grow up and become independent and self supporting. They will have responsibility for paying for college (not 100%). Oldest had to pay for his applications. They are expected to work in high school. We didn't buy the oldest a car and don't intend to buy the others cars either. We have an old one they can borrow. (Oldest just bought his own car).

We also model frugal behavior. We don't waste money by eating out when we could plan in advance to take sandwiches with us. We stay in one hotel room. We use groupon to plan some of our vacation activities. Last night we taught our oldest about camping because he wants a summer trip and doesn't have much money to spend on it. Camping is a fraction of the cost and then you can cook your food instead of buying - we have gear he can borrow. If we are capable of doing something we don't pay others to do it. Just the other day, my kids decided to take over caring for the lawn so we can save $140 per month (we were paying for this because of an injury that prevented us from doing it and the kids weren't ready for this responsibility). We do our own brakes on our cars. Etc.

Kids got allowance from a young age and have to buy all gifts for family and most of their social activities unless it's a family event - like movies with friends. [/quote]

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