Should I give my children money when I sell their things?

OnceTwiceThreeLotsOfSB

Presuming you bought the presents in the first place, then I feel the money you recoup from reselling them is yours.

joehoover

I would and get them involved in it. I always had to sell toys to make room for more, but in the days before the internet so would sell from my front garden. It's a good lesson to learn the value of things and not to expect everything handed to them. So instead of demanding more things they can make decisions on what they can give up to get something else they want. Start them moneysaving at an early age!

quidsy

As you pay for everything to do with your childs upkeep then any money clawed back should be yours to use as you wish. The kid/s will be getting it back 1000 fold any way in presents, food, clothes & general expenses over the course of their life.

XRAT

If my kids sold my car, I would think I was entitled to the money.


If you sell THEIR toy cars, the money belongs to THEM.


By all means spend it on new toys for them, but explain the system to them, "That they bought the toys themselves, from the proceeds of their old unwanted toys."

happyinflorida

More info needed.

How old are the children involved here?

Why are you selling - more space needed or do you need the money?

Are you checking with them first? It would be unfair to sell things they really love.

gloriouslyhappy

A nice little nest egg for when they go to uni / want a car / gap year RTW trip / rental security deposit etc would come in handy - as they're finished with the toys and won't miss them, I'd put the money aside for them for later.

gloriouslyhappy

scotsbob wrote: »

Taking your kids toys, then selling them.

Well I guess there is a fine line between moneysaving and being mean.

Hardly mean - as the average child has a toy-shop's worth of toys spilling out of their room all over the house, getting rid of the unused ones makes sense, and selling them makes even better financial sense.

What's done with the profits - now there's where the 'mean' bit might come in!

koru

One way to decide what's right is to think about the reverse situation if they are old enough to do some selling themselves. What if they found some tat of the parent's, unused in the attic, and asked if they could sell it and keep the proceeds?

If my kids did this, I would probably be pleased they were helping me get rid of unneeded stuff with no effort, so I'd let them keep the money (unless it was worth a lot, when I'd probably give them some "sales commission").

Jagraf

XRAT wrote: »

If my kids sold my car, I would think I was entitled to the money.


If you sell THEIR toy cars, the money belongs to THEM.


By all means spend it on new toys for them, but explain the system to them, "That they bought the toys themselves, from the proceeds of their old unwanted toys."

My daughter thinks my car is hers anyway - taxi service to everywhere. If I need money in order to service this requirement ( and same goes if little ones want to join kick boxing / drama / swimming club / guides etc) then I would happily keep the money from the sale of their old unwanted items.

I can't see the point of saying "you can keep this money, but I can't afford the petrol to take you to a friends party"

springdreams

When my DS was smaller I simply gave his toys away to friends who had younger children.

Now that he is a teenager we box the things he no longer uses up and sell them at car boots in the warmer months. The cost of the table has to come out of the takings. Whatever is left over is his to spend as he chooses within reason (he did once ask to spend the whole lot on microsoft points for fifa :eek:). He bought himself an iPhone and he also bought the day one edition of the Xbox One with some of the proceeds. These are things I would never have afforded to buy him otherwise.

My DS has hoarding tendencies (can't think where he gets that from ... :whistle:) so would not part with the things he no longer uses if it was not for the incentive of receiving cash from selling them.

We take the clothes that no longer fit to the local cash for clothes place. He keeps the money for his clothes and I keep the money for mine.

I feel that any toys, clothes, games etc that were given to him, whether by me or by someone else, are his, therefore any money raised from selling them also belongs to him.