A Florida mother provides each of her three children (ages 12, 14 and 17) with a designated clothing budget, supplying $500 every three months and increasing the back-to-school allotment to $750 per child this year. Funds are placed on the children's debit cards, and the children are responsible for tracking purchases and remaining balances. The budgeting approach aims to teach financial responsibility and prioritization, with one daughter choosing sneakers over pricier T-shirts and having money left for jewelry. The family's TikTok video generated mixed reactions, from praise for teaching money skills to criticism that the budget is excessive.
A lot of people say that's too much and a lot of people say it's not enough,
I'm teaching financial responsibility with a budget, so they know the value of a dollar.
The kids learn that a $50 white T-shirt might not be worth the money.
I know every family functions a little bit differently, but I give my kids $750 each for all of their back-to-school clothing, and that includes their shoes and their book bags,
Collection
[
|
...
]