If You Gave Your Teen $1,000…
May 12, 2008 by Deborah Ng
Filed under finances
If you gave your teen $1000 as a graduation present, how would he (and by he I mean he or she) spend it? Would he use it to help defray college costs or invest it in a savings bond? Would he put it in savings or spend it on a new gaming system.
My son is only six, so I’m not about to be giving him a grand right now. If I did I’d hope he’d use it for college or to invest in his future. I’d probably be very disappointed if he ran out and spent in toys.
What do you really, honestly feel your child would do with $1000 upon graduating from high school. Vote in the sidebar poll and discuss in the comments.
Image Buy at AllPosters.com
LRN
They all would do something differently…
Erin (26) would spend it..on shoes
Chris (23) would fix his truck
Matt (15) would use it to get to Africa to do missions
Shiloh(12) would buy books. Seriously.
Sean (10) would put it in savings
Nick(8) would buy chocolate…and transformers, and lego baraki
Kyrie (4)would buy chocolate. No doubt
and me? I would go for an afternoon at a day spa. Seriously.
Geez..I forgot Ethan. I am embarrassed..hope he never reads this..
umm..Ethan (14) owuld buy a bass and an electric guitar. no doubt there either.
I wouldn’t mind a visit to a day spa myself, Marye! Right now that’s out of the question until all the house stuff is done.
If I gave my just about six year old $1000 right he’d either spend it on pets (he doesn’t think two cats a dog and some fish are enough), pet supplies or things he could build.
Go to the beach!
It’s hard to say since my boys are only 5 & 8, but since we plan on having them pay for a percentage of their own higher education (be it plumbing school or Harvard), I’m hoping that upon graduation, they’ll know they need to monetary gifts for school.
We’re not Catholic, but my son has a lot of Catholic friends and over the past two years many of them have gone through their First Holy Communion. I know that many of them have gotten quite a bit of money as gifts for this and my son’s friends have used it to buy trampolines and Wii’s and all sorts of really expensive stuff. Enough that my Methodist son wants to be Catholic.
So even at age 8, kids aren’t putting their money from a major event away for college (I’m sure some are, but my son only hears about the ones who bought big ticket items with it).
If they were given unlimited no holds barred spending. My son would probably spend some on games or and my daughter clothes. However, I wouldn’t do that. I would give it to them with the understanding it was to be used to help defray college costs. If they want spending money, they should get a job.