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At What Age Can I Give My Kids Money Instead of Presents?

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Being a parent is the almost rewarding job in the world, but information technology's also the hardest — especially when shopping for gifts. While this job can certainly be fun, information technology's also time-consuming and often very hit or miss.

Therefore, you're thinking about giving yourself a break from all the shopping, wrapping and inevitable trips dorsum to the store to return unwanted presents and just giving cash instead. Of form, the concluding thing you desire to exercise is disappoint your kids, then y'all desire to brand certain they're former enough to appreciate getting cold, difficult cash instead of traditional gifts.

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Jennifer Porter, a Seattle-based etiquette practiced and customer intendance omnibus, said mostly speaking, age 13 is an advisable historic period to first giving monetary gifts, as this is the stage they're first to transition into young adulthood.

"Kids should be working toward early fiscal maturity with concepts of saving, giving and spending," she said. "Money can be a not bad tool for kids at this age, equally they investigate fun and meaningful means to spend money."

However, she said information technology'due south important to take each kid's personality into account, as different kids are gear up to receive cash gifts at dissimilar ages. Additionally, she said coin tin can feel like a sterile gift unless it'due south tied to a goal that actually inspires the child.

"That's to say that if a younger child, even 9 years erstwhile, has her center attack a new camera because she wants to larn photography, money toward that goal — that she is also saving her allowance for — is very appropriate," she said.

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Jodi RR Smith, president of Mannersmith Etiquette Consulting, based in Marblehead, Massachusetts, agreed that money or a gift bill of fare is ofttimes what kids in their tween years and in a higher place prefer to receive as a present.

Nonetheless, she reiterated that giving money to a young child can be catchy.

"Mitt a ii-year-old a dollar nib and to them it is just funny greenish paper," she said. "The child must understand that coin is used every bit a medium of commutation, and later, that money stores value for the gift of money to have any meaning."

She also warned that people in different cultures and even different families don't share the aforementioned perception of monetary gifts.

"In some situations, coin is a welcomed gift whereas others may find it gauche," she said.

If you're at all unsure about how a monetary gift will exist received, Smith recommended speaking with the kid's parents beginning.

She besides noted that there are different ways to give money every bit a gift, that can make information technology fun for the child.

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"For younger children, a money sorting bank along with rolls of pennies, nickels, dimes and quarters tin can be a great fashion to begin teaching about money," she said. "For unproblematic children, money to be put into a banking company account or college fund along with a small-scale toy or book might be best."

Lisa Grotts, a San Francisco-based etiquette expert known every bit the 'Golden Rules Gal,' likewise reiterated that monetary gift gifting largely depends on the parents. She said young children — those ages 13 and under — volition non appreciate a check or even cash.

"What might be fun for a young kid is to put a scroll of coins in their stocking that they tin can use for small purchases, such as candy," she said. "Many adults don't even empathise the value of a dollar."

More often than not speaking, she recommended giving gifts to anyone under 18 years old.

"Subsequently that, kids become young adults and accept a mind of their own of what they may want," she said.

Ultimately, there's no hard and fast rule regarding when to start giving greenbacks equally gifts. Instead of setting an age limit, take the individual personality of the kid into account — and the beliefs of their family, if not your own kids — when making a decision.

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Source: https://www.gobankingrates.com/saving-money/holiday/at-what-age-can-i-give-my-kids-money-instead-of-presents/

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