Parenting

Parent’s Return Back Your Child’s Money Everytime You Borrow From Them

Teenagers often save up pocket money to go out with friends or for some special outing. In most of the cases the teens work very hard in collecting and saving money by taking up a part time job or doing somebody a favor. In some cases they may save up on the money they get from their parents.

However, parents sometimes borrow money from their children and do not return it back. This may cause the children to get very angry with you and not trust you any more.

Here are some points you should keep in mind when you are borrowing money from your children.

1) 

   Appreciate that they are wise enough to save up money and that they are not spending it away.

2)

    If you have promised them that you would return it back, then make sure you return back their money, do not yell at them at their ungratefulness and do not get mad at them and start narrating all the expenses you had incurred for them.

3) 

   Do make sure that they are saving up money for the right cause.

4)

    Encourage their saving behavior by appreciating their efforts and suggesting ways and means like saving the money in a bank etc.

5)

    Help them in their decision-making.Iif the child is spending money for an item or thing that is expensive and you know that the same item is available for a cheaper price, let them know.

6) 

   Most importantly your child will tell you things only if they find you trustworthy, so win their trust. There may be instances when the child has saved up money and has told you about it and you as a parent have asked the child to spend money from the amount he/she has saved, every time the child has asked you money for some other expense. These instances may cause the child to loose their trust in you because they know that you will not give them money if you know they are saving up money on something else.

Keep these points in mind and deal with your child in a very understanding way.

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