Do you give additional $ if DC goes out with friends?

With rising costs and increased learning needs, financing our children's education is no longer a simple walk in the park. Discuss with other parents about how they are managing their finances to cope with their expenses.

Do you give additional $ if DC goes out with friends?

Postby ngl2010 » Thu Nov 14, 2013 12:23 pm

Do you give money for meals and transportation if your child is going out with his/her friends? Or, they use their own pocket money/savings?

ngl2010
KiasuGrandMaster
KiasuGrandMaster
 
Posts: 6029
Joined: Tue May 24, 2011 2:03 pm
Total Likes: 68


Re: Do you give additional $ if DC goes out with friends?

Postby lexis » Thu Nov 14, 2013 12:27 pm

I give extra. $5-$15, depending on where they are going.

lexis
BrownBelt
BrownBelt
 
Posts: 653
Joined: Thu May 30, 2013 8:46 am
Total Likes: 14


Re: Do you give additional $ if DC goes out with friends?

Postby Nebbermind » Thu Nov 14, 2013 12:31 pm

depending on what they going to do. movies and some places need more $$.

I'm ok with sponsoring their outing coz they rarely do it.

Nebbermind
KiasuGrandMaster
KiasuGrandMaster
 
Posts: 14654
Joined: Tue Dec 22, 2009 11:40 am
Total Likes: 148


Re: Do you give additional $ if DC goes out with friends?

Postby ngl2010 » Thu Nov 14, 2013 1:31 pm

Lexis, Nebbermind, do you ask the remaining money back if DC spends less than what you gave?

ngl2010
KiasuGrandMaster
KiasuGrandMaster
 
Posts: 6029
Joined: Tue May 24, 2011 2:03 pm
Total Likes: 68


Re: Do you give additional $ if DC goes out with friends?

Postby Nebbermind » Thu Nov 14, 2013 1:48 pm

My boy has the habit of updating me on how much he spent. Whatever left goes to his next-week allowance.

How old his your kid? P6?

I guess what most parents are concerned about is they will spend the money wastefully. But one can easily gauge that by the way they spent their normal allowance. I think $20 is the most they can spend in an afternoon (1 movie tix + 1 meal).

Nebbermind
KiasuGrandMaster
KiasuGrandMaster
 
Posts: 14654
Joined: Tue Dec 22, 2009 11:40 am
Total Likes: 148



Re: Do you give additional $ if DC goes out with friends?

Postby slmkhoo » Thu Nov 14, 2013 1:49 pm

What is your agreement on what is covered by the regular pocket money? I will give extra to my kids if the outing costs more than their regular spending or if they are doing something out of the norm. Transportation is always covered by me as I top up their EZlink cards as when necessary. During holidays, I give the same amount of pocket money as during term time, so if they haven't been spending it, I will let them pay for themselves if it's approximately what they would have spent in school. For some things, I will sponsor some and they will pay for the rest. Basically, it varies! My kids are not very money-minded so they accept whatever arrangement I decide on.

slmkhoo
KiasuGrandMaster
KiasuGrandMaster
 
Posts: 8071
Joined: Wed Sep 15, 2010 2:16 pm
Total Likes: 173


Re: Do you give additional $ if DC goes out with friends?

Postby lexis » Thu Nov 14, 2013 2:40 pm

I don't ask for the money back usually - he will usually offer to return it without me asking :)

lexis
BrownBelt
BrownBelt
 
Posts: 653
Joined: Thu May 30, 2013 8:46 am
Total Likes: 14


Re: Do you give additional $ if DC goes out with friends?

Postby ngl2010 » Thu Nov 14, 2013 3:15 pm

Nebbermind wrote:My boy has the habit of updating me on how much he spent. Whatever left goes to his next-week allowance.

How old his your kid? P6?

I guess what most parents are concerned about is they will spend the money wastefully. But one can easily gauge that by the way they spent their normal allowance. I think $20 is the most they can spend in an afternoon (1 movie tix + 1 meal).

Yes. P6. These days he has so many outings. I am thinking I must set some rules so he will have guidelines when he is in secondary school. Just in case he needs to go to his friends' home to do projects, etc...

ngl2010
KiasuGrandMaster
KiasuGrandMaster
 
Posts: 6029
Joined: Tue May 24, 2011 2:03 pm
Total Likes: 68


Re: Do you give additional $ if DC goes out with friends?

Postby ngl2010 » Thu Nov 14, 2013 3:21 pm

slmkhoo wrote:What is your agreement on what is covered by the regular pocket money? I will give extra to my kids if the outing costs more than their regular spending or if they are doing something out of the norm. Transportation is always covered by me as I top up their EZlink cards as when necessary. During holidays, I give the same amount of pocket money as during term time, so if they haven't been spending it, I will let them pay for themselves if it's approximately what they would have spent in school. For some things, I will sponsor some and they will pay for the rest. Basically, it varies! My kids are not very money-minded so they accept whatever arrangement I decide on.

We don't give pocket money during school holidays. Previously DS seldom has outings with friends so we usually give him money to spend whenever he is going out with his friends. As it looks like he is going out more often with his friends these days, I am wondering what other parents usually do because we want to cultivate the right habit from beginning.

ngl2010
KiasuGrandMaster
KiasuGrandMaster
 
Posts: 6029
Joined: Tue May 24, 2011 2:03 pm
Total Likes: 68


Re: Do you give additional $ if DC goes out with friends?

Postby ngl2010 » Thu Nov 14, 2013 3:28 pm

lexis wrote:I don't ask for the money back usually - he will usually offer to return it without me asking :)

Your son is such a good boy :please:

ngl2010
KiasuGrandMaster
KiasuGrandMaster
 
Posts: 6029
Joined: Tue May 24, 2011 2:03 pm
Total Likes: 68


Next

Return to Money Matters