Kids Buying Their Own Christmas Gifts???

Yes, they are old enough to do this, and I think it will mean more to them and teach them about budgeting as well!

As I see it, there's no downside with having your children earn some money by doing some extra chores around the house so that they can buy their friends a gift. It teaches them the value of money, what it takes to earn money, and pride in giving a gift that they had actually worked to earned (as opposed to a parent just giving it to them). It's never too early or too late to teach these core values.

I think you should buy it for them. If you give them allowance consistently, then I would say that they should buy it-but since you don't, then you should take care of it.

There is never anything wrong with kids earning their own money for things they WANT to purchase; however, since they are so young and you don't pay them for chores regularly (and we are this close to Christmas), I would say just to purchase them a small gift for these few friends.

I think the gift will mean more if they have the opportunity to earn the money. Find a special project, above and beyond their usual chores, for them to do and earn the money. Then have fun shopping.

When they've been invited to a birthday party or an agreed-upon gift exchange, I will pay for the gift. But for something extra, they use their own money (or even better ... make something!) My daughter and I were at a craft show yesterday, and she used her own money to buy a bracelet for her and her friend.

We started giving allowance this year, approaching it as a tool for learning money management. They have to put some in their savings account, set aside some for donating, and have some for spending. We have a list of chores they must do as part of our family, and a list they can do to earn extra money. I think that would be an excellent way for your kids to pay for their friends' gifts.

I let my 7 yr;old son and almost 4 yr. old daughter buy their own gifts this weekend. They had so much fun and are so excited for us to open them but we r going to wait! They only thing is we didn't help them some high schoolers help it was at the school and I know they bought some of the same gifts but who cares its the point.

It depends on how you think your children should learn about money. At these ages my children had allowances. Our purpose is to teach the how to handle money and the value of money. At Christmas my husband would take them to the dollar store and they would buy the presents. As the get older they are expected to pay for more. When the enter high school they negotiate with their father how much money they need for entertainment, clothes, food they buy outside the home, gas, maintenance on the car and such. My husband and them make a budget. The amount is doable, but tight. If they want extra things they will need a job. It's interesting to see how different kids manage this. Some take longer to learn that if you spend everything at the beginning of the month, it's along time until you get more money.
I believe that being part of a family means certain things have to be done and you are not paid to be part of a family. At your children's age I would let them do agreed upon things to earn extra money for something they wanted. (for example cleaning out the pantry or closet, when older sanding the garden furniture). As you can see by the other responses it really depends on your philosophy. If you don't have one, it's time to think about what you want your children to learn about money and working. Good luck!

I would make them earn it. They can do extra stuff for you such as wash windows and mirrors in the house. I am not sure what their chores consist of, but they can pull weeds in the yard or other stuff you set forth to earn the money for what they want to get for friends. You already have them to buy for and they can get the idea of what it is worth to earn the money themselves. Another idea for the 11 year old is a dog walking service in your neighborhood. Gets him/her some exercise as well as earn some money :-) I am making my 10 year old earn the money for any friends he wants to buy for too.

D. P.

I (much like the other Denise P!) think it's a great idea to have them earn the money! Great lesson to be taught and this is a very practical application.

I give my 8yo son allowance consistently (as long as the following list of chores is completed weekly and with a good attitude - $3 is "bonus" money for timely completion and good attitude), but it's not at the level that I would insist on him buying his own presents for people YET (his allowance goes up every half birthday). Next year... possibly. Because his allowance will bump from $10 per week to $15 per week. Each time his allowance bumps he's also responsible for paying for a larger percentage of the things he needs (like clothes, school supplies, etc.), and what he wants comes out of the remainder (lunches out, movies, games).

Daily:

Breakfast
Dishes (B, L, D, & snacks)
Shower & Brush Teeth
Make Bed
Pick up Toys (except 2)
Recycling
School
Play
Help with Projects
Help w/ Dinner

Weekly:

Wash his Sheets
Wash & Put Away his Clothes
Clean Room
Pick a chore x 1 (Like mop the floors, yard work, clean up after dog, windex, etc.)

I don't believe in allowance. As a stay at home mom, full time, nobody pays me to do the "chores" I'm responsible for. I don't pay my husband to take out the trash each day either. I believe children learn responsibility by doing what is expected of them around the house and those responsibilities include picking up after themselves and general help around the house like putting their clothes away that I've washed, dried, and folded. They certainly will miss that allowance when they are old enough to live on their own and nobody is paying them to do the "chores" they have to do, right? I say take your kiddos to the dollar store and let them pick out some inexpensive things for their friends. As for the allowance thing, I am not a supporter.