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What age do you let kids be in charge of their own money

2 replies

FireHorse2026 · 03/03/2026 01:56

My kids got a fair amount of cash for Chinese New Year. They are 6, 4 and 1 so at the moment we take them to the toy shop after CNY and buy them a gift then I put the remaining money in their savings accounts.

At what age do you start giving them all the money and letting them choose whether to spend or save?

OP posts:
Meadowfinch · 03/03/2026 02:11

About 5 when he first started receiving money for birthdays and Christmas.
My ds has always chosen to save his money. I bought him an old fashioned piggy bank when he was about 6 and he always used it, saving for major purchases such as a Nintendo Switch. My only involvement was to occasionally check how much was in the piggy bank and move anything over £50 to a high interest account.
In his teens he acquired a current account and does the same with his part-time earnings. I still check his piggy bank occasionally because he has generous relatives who send him £25 in a birthday card.

ApeachAndaGoodBook · 03/03/2026 04:28

They kept half and saved half. I think at age 7 or 8 yrs.

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