Getting step kids to save?!

[Navigatingthroughlife]

My partner and I are taking his two kids to Florida next year. They have no urgency to save and I know how much stuff they’re going to want to buy out there. Has anyone got any advice on how to encourage them to save their Christmas money etc as we don’t have a limitless budget where we can get them everything they want?

How old are they? Do you give them pocket money?

Open an account for each, direct some of their pocket money in directly. Suggest that relatives that want to give Christmas money pay at least some of it into the account.

They’re 11 and 13 they get pocket money for doing the odd chores. I know from family etc they will get money but they get so tempted to spend it on other things

Thank you! Partners ex is a really nice woman (I’ve been blessed) so hopefully she can say the same to her family. I just know when they get there and they see all the gimmicks in Disney and universal it’s going to be like ‘omg I want this’ etc thank you guys!

How about offering (if you can) to match what they save?

That’s a really good idea I’m sure with overtime at work etc we will be able to do it thank you so much

We had this when we took DSD to Disney a few years ago!

Every time she received pocket money from us/cash from our side of the family we encouraged her to save at least half of it and reminded her how much she'd enjoy having money to spend on herself on holiday.

We never asked her Mum to do the same though, I didn't think that was our place as her DM might want her to keep money for things she'll do with her.

Thank you. Mums been so good she went out and brought them clothes for it off her on accord and just dropped them round a few weeks ago. I know my partner has told mum he’s looking to give them dollars for Christmas so she does know that. It’s so hard because they’ve been Paris but Florida is a different level will all the stuff out there and I know the 13 year old is going to hit the outlet. I just want them to have the best time and be able to get everything they possibly want

Matching what they save is a great idea! That would have worked for me at that age. But depending how much they save, that then needs to be pretty much all their spending money, you won't provide any/much more when you are out there

Not sure if there is similar in UK, but in Ireland there are post office savings accounts. I used to bring my pair every second Saturday and they would put in their savings. It is a little awkward to access so that helped with temptation.

They also have a chart on their walls recording their progress. We were very lucky to be able to match their savings so there was extra incentive. Eldest one is excellent at money management now so it really is a valuable lesson.

Like you extended family on board which really helped with a couple of encouraging comments.

Thank you! This is all really helpful advice I think matching it will get their minds ticking over to save as much as possible. Knowing my luck they’ll end up saving a grand each 😂

Thank you I’ll have a chat with my partner when he’s in tonight with all your great ideas thank you again everyone!

Oh another thought, my own DD loved changing her money over, we went quite regularly.

So you could encourage her to save half then every few weeks go and exchange it? Treat her to a new Disney purse to keep it in. She'll be excited to see that she's got dollars and they can't be spent.

Another great idea just hoping the rate jumps up a little as atm it’s terrible!

I would be tempted to tell them to save up and that you would not be buying them endless stuff and leave it at that. Presumably you will covering everything they need like food - if they don't save and can't afford to buy loads toys then it won't harm them and it might teach them to save.

To be honest I don't know why you would want them to buy loads of stuff - it's bad for the environment and will just fill yours/their mum's house up with tat!

Match it up to say £50.

Tell them you will not be able to buy them anything extra and stick to this

Get it into dollars asap and start a little chart (similar to the church hall temperature charts) to show how much each has. If you turn it into a competition it may help drive the passion.

Amazing to have such a lovely ex!

Thank you guys! I love the chart idea! They’ll be clothes etc too that the oldest will want to buy and she’s getting to that age now. Yes we’re paying for everything including food, park tickets, accommodation including the night before at the airport, flights etc it’s literally so they can just buy their own little bits

If the 13yo wants to buy clothes then it may be easier to refocus her mind on saving each time she thinks about buying something in the UK. Just remind her that her friends won't be able to buy the cool stuff she gets in the US - she might want to buy some items as gifts for them.

we’re paying for everything including food, park tickets, accommodation including the night before at the airport, flights etc it’s literally so they can just buy their own little bits

In that case I wouldn't worry too much. You will provide everything they need and they are being taken to DisneyLand. I think they will survive if they can't afford buy loads of shiny things on top of that!

Thank you guys! X

Good luck with the saving!
They will want everything I’m sure… we went this year and my kids took £600 each! And my daughter spent the lot😂 son come back with £200.

Thank you this is exactly what I’m dreading they’re going to want everything 😂

This isn't what you asked but they shouldn't buy stuff at the Disney parks or universal studios, because they're an absolute rip off.

They can buy all the Disney stuff in many shops in Orlando... way cheaper. That's what we did when we went.

Thank you! I was told by a relative who goes yearly to get all the Disney stuff in Walmart!