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

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[quote=Anonymous]DH is from a wealthy family. I grew up on the lower middle class side. We never went hungry but did have our utilities get cut off sometimes.

His parents gave an allowance starting at a young age and everything not school related had to be purchased with that money. Granted, it was a generous allowance.

I grew up only getting gifts on Xmas, my bday, and Easter. I didn't get an allowance and didn't get to do many activities when I was younger before I was able to get a job.

Our kids get a weekly allowance that they use for the random wants that come up and DH and I cover the needs in life. We do seasonal wardrobe shopping where I'll pay and then anything extra they want after that trip, they'll buy with their money. Exceptions of course for school occasion clothes and random growth spurts.

We give each kid a concert pass each year where we'll pay for the tickets as long as one patent can also attend. If they want to go solo then they have to pay.

Sporting events and theatre are paid for by us because most of the time we are going as a family.

They get a new phone every 2 years when their contract is up. We don't just buy the latest and greatest because we can. We pay for their phones and have full access to them.

We gave the 16 yo a used car. I think it's crazy to buy a new driver a new car.

They are only allowed jobs during the summer. Through the school year all they can do to earn extra money is extra chores for us, babysitting, or helping our elderly neighbors. [/quote]

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