aita for not giving my son spending money | Discover (2024)

FAQs

Should parents give their children money why or why not? ›

One of the main arguments in favour of pocket money is that it can help children learn financial responsibility. By giving children a regular allowance, parents can teach them about budgeting, saving, and spending. This can be a valuable lesson that they can carry with them into adulthood.

Actually spend money.

Yes, you should let your kids actually spend their money. Sure, encourage them to save, budget and invest, but they have to have a little bit of spending money for fun too. After all, it's their money that they earned. You should be having direct, honest and transparent conversations.

Above all, the decision of whether to give money to your parents should come down to your own financial situation. Consider your capacity to give from two angles: Current means: Giving money to your parents makes sense if you are in a situation that allows you to budget a set amount to send them each month.

Some parents give their kids money every week because they want them to learn about money and its value from an early age so that they can handle their finances wisely as adults. Additionally, they give money to their kids so that they can cover some of their urgent expenses when they are not with their parents.