Help, the cash register is ringing!
Gifts of money are both a curse and a blessing. The unbeatable advantage: Banknotes fit better than shoes that are three sizes too small or board games that have already been unplayed on the shelf twice. The nasty disadvantage: Gifts of money don't always fit into your money-wise upbringing, with which you want to make it easier for your kids to get started in life.
But don't worry: If you handle the gifts of money correctly, your children will learn a lot for life. And they really enjoy gifts that they can really do something with.
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Gifts of money — a question of age?
Gifts of money are not a question of age. Even the youngest children make huge profits for birthdays, Christmas and the like. No wonder: Before the fifth doll piles up in the children's room and the next racing car disappears into the toy box, many grab a banknote instead.
And not just for birthdays or Christmas.
One or the other coin also changes hands from time to time. Children's eyes are shining there! Assuming they even know what the notes and coins are all about. Until children know the value of money, they cannot look forward to receiving a receipt. How are they supposed to know what great things you can do with it?
Basically, the gift money belongs to the kids. As with pocket money, they should also decide for themselves what happens with gifts of money. They only learn how to handle money correctly, from having money and not having it.
And then gifts of money are just a question of age. While older children already know exactly how the money works thanks to their pocket money and their first part-time jobs, the youngest have yet to learn this. Thankfully, there are mom and dad who help them with that.
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Talk about cash gifts
Don't try to tell your child what they should do with the money they give them. Save yourself the pike jump too to secure the 50-euro note even before your child has unpacked it. Handle it in a relaxed way and illustrate what value son or daughter has in their hands right now. Maybe it's four months of pocket money or almost the cool bicycle helmet from advertising?
However, always remain proportionate. If your child is already a teenager, they just roll their eyes annoyed when you comment extensively on Grandpa's five euros each time. In the worst case, this means that you no longer know who and how much your child receives as a gift.
So make a basic distinction between the age of your child and the occasion and amount of the gift of money.
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Small gifts of money in between
There it is again: That suspicious jingling from the kids' pockets. It is particularly common after visiting grandma and grandpa. Don't worry, it's not ringing in your ears. That is just the good heart of grandparents who want to do something good for their grandchildren. Especially with the words: “But don't tell mom! ”.
Basically, you should decide for yourself how to deal with these small donations. If you have the feeling that son and daughter are already good with money, don't hesitate to let them have fun. Assuming, of course, that the tinkling doesn't turn into rustling: Small amounts therefore remain.
If the amounts become too large and the donations become too frequent, it is best to talk to the donors first. It's great that your kids have a loving patron. Together, you will certainly find a good way to invest the small donations wisely. Because in the long term, many small gifts of money do destroy the learning effectthat you hope to get from pocket money. And the small amounts together certainly make for a great little dream that son and daughter have been raving about for a long time.
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Cash gifts for specific purposes
The blue mountain bike, the latest smartphone or the cool shoes that everyone has now: Sometimes it's not about quick fun. Sometimes the wishes are great and their eyes shine more and more the closer your child gets to the goal. It goes without saying that the enthusiasm includes one or the other investor who contributes to the savings target with a small financial injection.
If the gifts of money are intended for this purpose, this promotes austerity. Provided that it doesn't happen with every little crush and the sums remain in proportion. True to the motto: Anticipation is the best joy. Waiting until the savings target is finally achieved promotes appreciation and at the same time clarifies the question: “Do I really want that? ”
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Big cash gifts and special occasions
Would you like a bit more?
Sometimes it doesn't stay with a few euros in between or the fifties in the birthday card. There are a variety of occasions for big money gifts. However, they often come as no surprise, but are planned long in advance. For example, during special celebrations or inheritances. You should not only use this time for organization, but also for a quiet conversation about how to handle the gift of money. Once the money is there and the dollar signs light up in your child's eyes, it may already be too late for a factual dialogue.
So clarify beforehand how you want to handle the sum. It is a good compromise to divide up the money given. Your child can play millionaire with part of the money: Agree on a sum that they can spend freely. And that without any instructive comments. You set aside another part of the money for your current savings goal: The new tablet, the cool wardrobe or a special vacation. The last part of the sum disappears for long-term savings goals before your child has seen it.
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Communication? Of course. But not only with the child!
A big gift of money is coming up and you're the last person to know about it? That wasn't supposed to happen. If you don't know what grandma and grandpa are giving a few days before Christmas or birthday, take the initiative. Talk about what they want to give as a gift. If they don't have an idea yet, they'll be grateful for your advice. After all, they want to see their grandchildren happy. A book that is already on the shelf unread is out of the question. Many then prefer to give cash as a gift. How much that will be and how they will hand it over, they can coordinate with you so early on.
For small children, it is also convenient not to hand over the money in the first place. Especially when it comes to larger sums of money. If you want to do something good for your child, talk to you first. You then set the money aside and hand it over to her together on her 18th birthday, for example. The first car is now secured. Make sure to set the money aside separately so that you don't accidentally set it aside for something else.
But don't forget that your kids also want to be money wise themselves. You should therefore plan such financial transactions behind your children's backs with care. They should absolutely be able to freely dispose of smaller gifts of money.
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Money gifts with bling are so easy
Put an end to the confusing tinkling in your trouser pockets. Keeping track of pocket money, cash gifts and savings goals can be so easy! With bling, you always have everything in view. Even small and large gifts of money arrive in a very relaxed way. You can discover all the features of bling here.
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