As a mother should i put half of my 15 yr olds birthday money behind his bank.?

Question

I am just wondering

Answer 1

Our rule is half goes in the bank and the other half gets to be spent.  BUT we started that rule from day one and have never done it behing our kids backs.  Don't do it behind his back.  He won't trust you when he finds out.  Be honest with him and explain WHY you think he should do it.

Answer 2

"Behind his bank"?

You should take him with you to the bank so he can deposit half in his own savings account.  My parents did that from early on.  By time I was 15 I wanted to do it because I knew I was saving up for bigger stuff like a car and college.  If you make an event out of it he'll be more eager to do it - if you feel like you need more incentive, tell him you'll match every dollar one for one and increase whatever he deposits.  Until he's 18 you are the parent and responsible for teaching good financial values - this is the best way you can do that!

Answer 3

I wouldn't do it behind his back. He (or she?) should be old enough to make these decisions on his own. I would say, hey, if you want a car, you need to start saving your own money for it. Suggest he start saving up for it...or whatever, it doesn't have to be a car. Let him make the decision, set goals. Don't do it behind his back; would you like that to be done to you? He's an adult, or at least becoming one, he needs to figure out how to handle his money.

Answer 4

its his ..let him decide

Answer 5

I would put half back he might be upset about it now but, I bet he will appreciate it when he wants that new car and needs to pay for college.