Kids and Money

I love my kids, I do.  I cannot help the fact that they occasionally get money from people for gifts or for work done.  However, I am sometimes frustrated by how they handle their money.  My friend and I went on a shopping trip today.  We had a two-hour drive, so we talked about a lot of things.  We touched on the subject of kids and money.  I realized that mine are not alone in their ways of spending/saving.


Take Robbie, for instance.  The child can save up $200 over a few months.  He will go shopping countless times in those months.  He will insist on accompanying me on every trip to Wal-Mart.  He will scour over the electronics and sporting goods departments dozens of times.  Every once in a while, he will let go of a few dollars on some jerky or candy or other little junk.  The next time he opens up his wallet, for whatever reason, he will swear someone has taken money out of it.  It's amusing to me how quickly he forgets his little purchases.  I will give him a little credit.  He usually manages to hang onto enough money to eventually purchase something of substance.  It may take awhile, but he will finally settle on something.


Now Brady, he's another story.  That child cannot stand to have money.  If he gets $5, he will want to make a special trip to town just to spend that money.  Of course, we don't drive him up there just to spend a couple of dollars.  Watch out when we do go out, though.  I don't care if we are stopping at the gas station!  He will spend that money.  The other day he had $5 when I stopped into a home decorating shop.  He just had to go in with me.  Just imagine a seven year old boy shopping in a home decor store.  Well, he managed to find some Beanie Babies.  The child doesn't even have Beanie Babies.  It didn't matter to him.  He found something to buy.  He picked out a Lion.  It was $3.24 with tax.  This left him with $1.76.  A day later he found a $2 item that he had to have.  So, I kicked in the extra 24 cents.  This is how he operates.  If you give him a dollar, he'll spend two.  If he has $50, he spends $55.  I swear he cannot handle the pressures of shopping with more than $10.  He will look at every toy in the store and not settle on one.  We will get to the checkout line, and he will frantically pick out little crap to buy.  Heaven forbid he leave the store without spending every penny, plus some.  The boy had about $50 after his birthday.  The first stop I made in town was at Big Lots.  Nothing against Big Lots, but it's not where I would recommend taking a kid to spend their money.  It didn't matter to Brady.  He was ready to shop!  I think we left there with about ten items for his $50, all of which were junk.  He has no control whatsoever. 


There isn't a moral to this story.  I just found it amusing that my kids are similar to my friend's kids.  How do your kids handle money?  How can we teach them to spend responsibly?  I'm not sure, but I'm open to suggestions!