Christmas 'money'

I don’t have kids but I do have nephews and nieces and I don’t interfere with the money that they had received from God Parents or other Family Relative. It’s their money and they should make most out of it. Not unless if they will ask me to keep their money for safe or to buy some things such as toys out of their money.

I use to get money as a kid, and my parents let us do what we wanted. For me I would put it away, and save for what I wanted. I was that odd kid that never liked spending my money and I still dont. But some parents should step in and teach their children that concept or else they will be in debt in no time.

When my children were younger, I would get things for them that they needed with their Christmas money. However, they are getting older now and because of the fact that they are getting older, I actually allow my children to spend their money in whatever way that they want to spend their money. For example, the year before last, my daughter wanted a Nintendo DS more than anything and I didn't want to buy one for her because I didn't think that she would respect it. So I encouraged her to save her own birthday money and add that to her Christmas money so that she could buy the game system that she wanted.

When they were younger, they would let me keep their money. But now that they are older, I just let them handle their money themselves. They should know better on how to spend them.

When my daughter was baptized, there were lots of cash gifts from her godparents. Thus, i opened an account for her, and all the cash gifts goes there. Until now, she retained the account. She saves her money there and withdraw only when it's so necessary.

Hi nicanorr, i do a little interfere only to advise them have to save the money. I told them if their money reach a $100 save it into their saving and they can spend about $50 after reaching the $100 and they can spend another $50 if it reaches $100 again. What they want to use the $50 is up to them, but normally they wont spend the $50 they would save it and ask me to pay if they want anything

It's for the child or children to collect money gifts during Christmas. Since they don't know yet to handle money, their parents would interfere in handling it. Nevertheless, the child should have the right over it and would still decide where the want to use it.

My children are still too young for me to answer this. I'm not sure, I don't think I will interfere tho. It would be their gift, not mine. But for 3rd birthdays we will get them a piggy bank which goes a long with learning to save (my daughter gets change for doing chores weekly and my son will to when he is older).

Ultimately the money was given to the child and so the ownership of the money goes to the child. In my case, I always believed the money belonged to the child and I could gently advise the child the best way to handle the money that is either to save it or to spend it and if to spend it on what kind of items. Advising the child will in the long run go to generating habits of responsiblity in handling mondey.