What to do when grandparents slip grandchildren money?
“It’s nice to still be needed!” says a grandmother. The grandfather adds with a friendly nod: “The children should have what we were denied back then.” Grandparents and grandchildren share a special bond. For the grandparents it is a nice feeling to do something good for their grandchildren and to be able to enjoy them with the necessary distance. For the grandchildren, grandma and grandpa are also people of respect, but they are usually much more relaxed and laid-back than their own parents. A good cross-generational mix, but one that certainly harbors conflicts. Such as constant gifts of money that upset the children’s parents. They see the upbringing of their children and the associated goals at risk.
It is not uncommon and widespread for grandparents to support children and grandchildren financially. The often economically secure grandparents are happy to give in old age and not only help as babysitters or chauffeurs, but also with financial injections for the family. It becomes difficult for the parents whose children constantly receive money from their grandparents. That is, when far more than the usual cash gifts are given for public holidays such as a birthday or the start of school.
Does handing over money endanger education?
Parents attach great importance to educating their children to handle money responsibly. This includes a regular, tightly limited financial budget for the children – i.e. the weekly pocket money , usually from the start of school. If the children now receive money separately from the grandparents at regular intervals, it becomes increasingly difficult for the legal guardians. They now have to convey to their children that money has value and that it will not always flow easily in life from a source of money – in this case from the grandparents.
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How should parents deal with this?
The only way to get the problem under control is to have an open conversation with the grandparents. Explain your goals and parenting methods and ask for support. If the grandparents don’t agree to this, suggest that the grandparents pay monthly for the children pay a certain amount into an account in order to later financially support their driver’s license, studies or training. If this also falls on deaf ears, you can still talk to your child. Do not cancel his pocket money because of this, your son or daughter cannot be held responsible for the grandparents’ misconduct. Ask them to tell you honestly when grandma and grandpa gave them money again and encourage your child to save. This means that the money should go into the piggy bank or into the care of the parents and thus to a bank. Explain to your child that they would like to have a larger gift later and that this money will make their wish come true. By quickly spending the funds given, this is pointlessly wasted on unnecessary little things and sweets.
How do you explain to children that they should save the money given to them?
If your child is too young to know the term account or bank, explain the situation to them. For a small child, the money given is simply gone. It cannot yet visualize what an account is. Feel free to argue with the interest, so that the money “multiplies” there. Don’t be afraid to convey to your child the value of the money given. Your parents have to work so many hours for this amount, or you would have to save your pocket money for so many weeks to get this sum. If the grandparents don’t want to do without constantly giving their grandchildren money, there is still another option. Let your child “work” with grandma and grandpa to give at least a little something in return, for example as a helper with gardening or for shopping in the supermarket. If the sums are too high, everyday things such as clothing and school supplies can also be financed with the money. Although you no longer provide your child with a tightly limited budget, you expand the scope of his or her self-organized duties – of course appropriate to the respective age. So it still learns to keep house. All in all, as parents, you also set an example for your children to live a certain lifestyle. Trust your upbringing. expand the framework of his self-organized duties – of course appropriate to the respective age. So it still learns to keep house. All in all, as parents, you also set an example for your children to live a certain lifestyle. Trust your upbringing. expand the framework of his self-organized duties – of course appropriate to the respective age. So it still learns to keep house. All in all, as parents, you also set an example for your children to live a certain lifestyle. Trust your upbringing.
Grandchildren are very grateful for the financial support of their grandparents from a certain age at the latest, because as a teenager you are always short of money. And even if the grandparents are happy to give it and wish that their grandchildren should have it better than they do: You should not lose sight of the well-being of your grandson and think back to whether you as parents do the same with your own children handled or rather not. The future responsible use of money by their grandson also depends on them.