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After the party - what to do with the money? |
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Written by Doctor Simcha
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- So, the party is over, and you have lots of checks and cash money that you have to decide what to do with? Good troubles! Here are a few alternatives for the parents to consider together with the BM child:
- Decide on a percentage of fun money that the kid gets to spend on buying something precious right away.
- Spend the cash money, save the checks in the bank.
- Put all the money, or part of it, in a saving account that will be dedicated to the child's college expenses, a car or for when they are starting a business. All the money belongs to the child, but in a bank account. It may be a good occasion to discuss the importance of saving!
- Donate a certain sum to charity of the child's choice.
- In circumstances where the parents cannot afford the party, sometimes parents use the money to cover the costs of the party. It may be hard for the children to grasp and accept it. A mature conversation about the issue always helps. Discuss with the child, before the party. the costs, the budget and the possible alternatives.
- Every family decides on its own what to do with the money. It is a personal issue and there is no "wrong" or "right" here. Whatever works for each family is the right thing to do. Discuss the issue maturely with the child and choose a way that works for you all.
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