I’m not much of an ogre with the everyday cash my kids get from relatives for birthdays and holidays, but when my son got Bar Mitzvahed we took all of his money and put it in the bank. I was kind of surprised that other kids were allowed to spend THOUSANDS of dollars! I add to this money, along with some 529 accounts I’ve set up, so that I can be sure that when he turns 18 four years of college will be fully paid for (in state university!) And there’s no “opt out of college/cash option” – the money’s only for college.
.-= Linda at Bar Mitzvahzilla´s last blog ..Midlife- Bad Wife =-.

My girls are only four and two, so I take their gift money. Some goes in the education fund, or towards something we’re buying for them (e.g. my two year old’s birthday money bought her big-girl bed).

Pretty soon my oldest is going to catch on. I did a post about allowances and piggy-banks recently too…kids need to learn, even from a young age, to manage money. But how much do they get, and how much control? I like the save/spend/share piggybank we bought our daughter, because the three compartments make it clear how to allocate the money. The spend money will be for whatever she wants. I guess. Thankfully, she hasn’t asked to spend it yet!
.-= Kate (This Mom)´s last blog ..Organize Hair Accessories – Without Buying a Thing- =-.

We put the big money in their accounts, and let them keep the petty cash for movies, etc., the local fair, things like that.

But they never get the big dough from bdays and Xmas and the like.
.-= Alexandra´s last blog ..The Pied Piper of Toothville =-.

http://www.ingenuemom.com/2010/06/blog-with-substance.html
.-= Cameron´s last blog ..How to Efficiently Read Blogs =-.