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

Jagraf

gloriouslyhappy wrote: »

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.

Even if you needed it for things they could benefit from now? What if it were needed for food, petrol etc? I remember selling a ton of my daughters unused stuff just to try and make ends meet. We are not in that position now thankfully, but if I had kept that money aside, my DD certainly wouldn't be profiting from her life experiences that she is now.

Jagraf

springdreams wrote: »

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.

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.

I suppose this is the same thing really though, by him keeping his money you are not needing to spend yours. (I mean that positively I'm not having a go).

springdreams

Jagraf wrote: »

I suppose this is the same thing really though, by him keeping his money you are not needing to spend yours. (I mean that positively I'm not having a go).

Yes indeed. He does try to spend my money in addition to his own. I have a rule though that if he needs it I will pay for it, if he doesn't need it but simply wants it he has to pay for it. Funny how must have things are no longer so desirable when the money has to come out of his own pocket

haras_nosirrah

I am a true mse'r

I have a pot in the kitchen. I only really buy clothes and toys (apart from birthday and christmas) from facebook selling pages. If I see something I think he would like I buy it. I do however sell the items on again once we no longer need them and if they are too big to go in the loft or unlikely to be reused if we have a second child. This money gets put in a pot in the kitchen and I use this money to buy him other stuff.

essentially it is recycling the money on buying and selling stuff for him and usually I get a similar price when I sell things on as I did when I originally bought them (as I buy them second hand to start with)

I do however put all the child benefit money into a savings account for him so feel no guilt about this whatsoever as he has 1k a year going into his savings account which will give him a nice nest egg in the future

tain

scotsbob wrote: »

Taking your kids toys, then selling them.


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

And this isn't anywhere near that line.

Would you sooner leave them cluttered in cupboards until they break or get chucked out when they're 18 and moving out?

Augustus_the_Strong

Ha! an interesting dilemma.

If you were grabbing favourite toys out of the hands of your crying children and selling them to finance your drug habit, I'd say that was a bad thing.

But if you're clearing out stuff they don't want anymore and couldn't care less about, then it's fair enough to keep the money. After all, I assume you let your kids live with you rent-free, and you pay for their food?

If it worries you (which presumably it does, or you wouldn't be asking), then invest the money (or some of it) in savings for them.

As the kids get older, you could encourage them to sell the stuff themselves, in which case they would keep the money made from selling their own stuff.

Lil_Lady

You buy your children stuff all the time, when you sell the unwanted stuff , my guess is that the money will go on new clothes, toys, days out, cinema and so on for them anyway. I don't think a person should feel guilty or bothered about this issue at all. When we do a car boot sale my daughter has her own corner and sells her stuff. I allow her to keep that money as she is making the effort herself. Mostly the money goes into her gohenry card or her bank. She always takes me to the ice-cream van and gets me a treat to say thank you for the 'lots of lovely things you buy me mummy'.

Charlie-Otter

I want my children (currently 5yr and 7yr) to be financially savvy so we involve them in finances directly affecting them whenever possible, so would definitely sell the unwanted toys with their blessing, and put the money in a pot for their next purchase.

Mine don't get pocket money unless they have earned it doing little jobs (like putting away their own clean washing, or emptying the dishwasher). It all goes in their money boxes, and if they want to buy a treat from shop, or money for school fete etc they take it from there (in addition to what we spend on them usually!).

My aunt gives them book tokens at Xmas and they go and select their books carefully based on their budget.

They help me clear out their old toys/books periodically. Some bits are given to the younger little boy next door (they like to take it round themselves); others are listed on ebay or we do a child/baby market and they help with this too; and everything leftover after this goes to the charity shop. Any money made goes in a pot to be used on new things for them - from toys/books, to clothes that fall outside the day-to-day remit (mummy buys school uniform and pants etc, but if you want princess/Spiderman knickers then those are bought yourself or a present from Father Christmas!).

The result seems to be they appreciate what things cost, and a trip to Waitrose for a cake (and free cuppa for mummy!) is then a treat rather than an expectation. Am sure they will rebel as they get older, but at the moment they seem to understand when we say we don't have money for something they want. Am determined they will learn to live within their means from the outset rather than the hard way like some of us - if you want something badly enough, then you work hard and save for it.

Now...if only they could teach them that in school as well, I'm sure our economy would reap the rewards in ten years time.:idea:

gocurlygirl

Once went to a car boot where a beautiful doll belonging to my dd3 was bartered for( for 50p).Declined offer as too mean -dd kept doll a bit longer and loved her.That woman was awful to a child and I would rather give it away.Most of the toys,clothes, etc were given away to cousins and friends,and some to charity shops and other people in need.
Not very m.s.e but gave joy and cousins and others enjoyed playing with them.:)

Tj1504

I recently sold lots of my daughters old toys & clothes I used the money to buy her a new desk, laptop & printer which is what she really needed to start a new school. I tend to save the money & buy something they really need when we have collected enough money.