How much to spend on kids! | Allowance, clothes, college, etc | Q&A Tuesday
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- Опубліковано 21 вер 2024
- Here's exactly what we think about allowance, how much you should spend on kids clothes, what you should and shouldn't buy for your kids, and more for this week's Q&A Tuesday live Q&A! Sorry about the technical difficulties. I shattered my phone screen so we had to use other phones and devices and it didn't work perfectly, so thanks for your patience.
Here are helpful links mentioned in this video:
-My budgeting program, Budget Boot Camp: FunCheaporFree... Use the code UA-cam to get an extra 10% off!
-The 7 Bank Accounts Your Family Should Have: funcheaporfree....
-How much to spend on back to school clothes: funcheaporfree...
-Chores kids should do, by age: funcheaporfree...
-How to become a Yard Sale Ninja: funcheaporfree...
-Jungle Jumparoo - funcheaporfree.com/junglejumparoo Use code FUNCHEAP10 for 10% off.
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I'm a blogger at funcheaporfree..... My husband Bubba and I have 8 kids in 10 years and live in Utah. I'm all about family, budgeting, frugal living, productivity and organization, and fun! You might have seen me on TLC, The Today Show, Rachael Ray, Good Morning America, Inside Edition, and more. I have two programs, a super fun budgeting program called Budget Boot Camp budgetbootcamp... and Productivity Boot Camp productivitybo....
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Your husband seems like the happiest man in the world such a lovely couple ❤️
agreed
Parental win!
I did the same with my daughter. I can't recall what she was saving up for, but she was about 10 and hit her mark. She actually went over
On the way to the store, she was counting and doing her math. She asked "Mom, how much does it cost to eat at _____?"
I told her all together, about $20. She said "Mom - I'm treating YOU out to lunch!!!"
She bought her item and spent the remaining on lunch for both of us. Best. Kid. Ever. I made sure to praise her up and down and gave her lots of hugs!
Long -- sorry! On another way to look at paying for college -- USE the system, instead of letting it use you.
Our daughter will graduate in December from the University of California at Berkeley, two days before her 28th birthday. Want to know why that "delay" is a GREAT thing? Here goes. First, she didn't know what she wanted to study when she was graduating from high school, and didn't want to waste her time and our money. We have a family friend 6 yrs older, who graduated from college and was completely rootless with not knowing what to do next. And our daughter watched her waste the first few years after college, because she no longer wanted to do what she had studied to do. (Object lesson!) Another good thing about this? We could NOT afford to help her then, but we made enough money that FAFSA would have said we could help.
Second, she went out and got a job, an apartment and an independent life for a few years. I think this can't be stressed enough. She worked as a nanny for a family, made a decent hourly rate, and could pay for her whole life. Granted, her converted-single-garage apartment smelled a bit like mildew. But she was happy!
Third, when she was 23, she approached us about being ready to go to college. She moved back home (couldn't afford her place AND tuition AND get good grades), and went to the VERY good local junior college. Toward the end of the J.C. route -- which I highly recommend, as it's only $42 per semester unit -- she applied to universities and got into Cal. Because she was over 25 when starting her FAFSA journey (didn't get financial aid during J.C.), they didn't look at our income AT ALL.
She will finish Cal with less than $12,000 of college loan debt. That's it. Less than the price of a small car. Easy to pay off, and will probably be paid off with gifts I know our two families are already planning to give her at graduation. And, what's even better, she got better grades, was more motivated, and already has an offer on grad school, including a full stipend to pay for it. Every time she heard a friend from high school had graduated from something, I repeated my two mantras for her: "Life isn't a sprint, it's a marathon." and "Their journey (race) isn't your journey (race)."
That is awesome. I started college right out of high school many years ago. Hated it. Quit. Went to work. Got married. Had kids. Decided to go back to college while in my forties. I was working full time. Took classes at night for years. Paid as I went. If I couldn't afford it I didn't go that semester. My kids went to college during that time too. I graduated at 57 years old. (Yes, I know that's really old) but I did what I set out to do and do not regret it at all. I graduated not owing one penny.
Everyone is different and should be smart about how they go about getting their education.
Good luck to your daughter it looks like she has a great future ahead.
Go her! What is she studying?
Love this story ! Awesome that you supported her through this process. I can see the value in waiting as well. Looking back to when I was 18-23 I don't think I would treasures school and life lessons like you do later. Awesome story. Thanks for sharing!
When I watch my grown daughter, go directly to the back of the store to the clearance rack. I smile with pride! She is teaching her children to be frugal . So.. proud of her.
amen
Love the clearance rack
From middle school on my parents did exactly what you suggested in this video for back to school shopping. We got $200 for clothes, makeup & accessories and they would get us one pair of indoor shoes and one pair of boots on top of that. My sister and I would spend weeks researching and pre-budgeting out our money for exactly what we wanted. It really made it more fun. If we decided to spend the whole $200 in makeup or in one pair of jeans, well that sucked. We were wearing the same clothes as last year. When we decided we wanted more money for name brand things (designer jeans, expensive purses, etc.) we got our butts off the couch and got a job haha When we were younger (when actually needed new clothes every year cause we were growing) my parents did a modified version. They went shopping with us for the clothes and paid for what we needed so we wouldn't blow all of our money than we got a smaller budget (usually $20-$30) to buy a few accessories that we wanted. It's something I definitely plan on doing with our kids when they get old enough.
We used to hit all the consignment stores like Plato's closet. Although, since discovering I'm a 0 short (mainly since the platform shoe fad ended and nothing fit anymore.. xD), I don't like buying consignment pants anymore since apparently no one short takes their short pants to consignment shops as I've NEVER found a pair at one.
My budget for clothes was $30
@@xladyfayre Fellow 0 short here (well even extra short from Maurices are 1-2" too long since I'm 4'10") and I totally sympathize. I've never been able to shop consignment with any luck. Maybe a shirt or accessory here or there, but mostly a waste of time for me. I did way better shopping sales at the outlet mall, specifically Banana Republic and Loft since their petites fit pretty well. Interestingly, some of my best fitting jeans were maternity jeans from Motherhood because they make super short jeans or "ankle" sizes that are the right (non-ankle) length for me.
The way Bubba looks at Jordan is so sweet! Such a beautiful, wonderful family!
I also clean my shoes with wipes and toothbrushes 😄 I'm 18 and my dad bought me these all white shoes. Now he paid a lot and I saw how hard it was for him to earn the cash (working extra hours) so I promised I'd look after them and they are still spotless to this day. He bought them me because it was Christmas so I didn't have to buy them myself.
Aw good for you!
Single mom with one son. Doing chores is part of living here, don't really get money for that - however I get cans from the nice maintenance man at work and my 9 year old son cashes them in (recycling and he gets to keep whatever he makes). He is truly learning the value of a dollar, he wants to buy a toy or something and he'll pause and do the math and say hmmm this will take 30 cans, sometimes it's worth it, sometimes it's not but he makes that decision himself. Best thing I ever did! If we go to a fair or carnival or amusement park, it can get expensive, Jake takes his money and is now very selective with what he buys! And I don't hear the whining!!
Wow you are an amazing mom, good for you! What a great lesson to teach!!
Jordan Page FunCheapOrFree Thank you! I'm trying :). Love your channel and was able to use your multiple bank accounts system - one of the best things I've done. So thank you for that!
Christina my dad did a similar thing with me when I was little. Ours was a tiny bit different, he matched dollar for dollar what I made with the cans BUT I always had to be saving 100% of it. I bought my first horse (like of my own, not belonging to my parents) when I was around 8 this way. Saving those cans was the best financial lesson I’ve ever experienced! I’m sure your son will look back & think the exact same thing!:) Good job momma!👍🏻
@@jordanpagecompany Hallo pretty couple. I am Roland from Switzerland and I would like to ask if you, the Mormon Christians keeps the sabbath day or not? Do you have a recommendations video about this topic? Thank you and God bless you and your work and the people around you. Thanks
I was raised to shop at thrift stores and get things for good prices but my parents would NEVER take me to shop at cheap stores like H&m even though the deals are fantastic the people that make the clothes live in horrible conditions. Many of them are sweatshops with children working not even getting paid. I've always been told its better to spend more with good quality and to know how its made rather than just give in to good prices for us which reflects in horrible conditions for the third world countries.
I was raised very similar to both of you - my parents supported my two siblings and I with a comfortable life while also teaching us financial responsibility. They provided a roof over our heads, food everyday, and typical kid activities (sports and school events). When extra expenses were needed we were always given a budget - especially when it came to back-to-school clothes and accessories. I remember going to the store with my mom and picking out my new clothes and backpack that I wanted while calculating to make sure I stayed under $100. I think this is one of the most valuable lessons my parents could have taught us. We learned to be respectful and appreciative of the money our parents spent on us while also having full autonomy over the purchases we made. It's important for kids to learn to make their own decisions especially when it comes to spending money. All three of us starting working at a very young age (around 13/14). As soon as we started earning our own money we began paying for those extra expenses ourselves. We paid for our own clothes, every outing with friends, any "special" household items we preferred to use (this was typical for my sister and I since we wanted to use better shampoo than Suave - Mom, I love you but Suave is the worst Shampoo brand), and any personal electronics we wanted including a cellphone and monthly bill. Our parents did support us with major expenses, even at this age - we each received a car with insurance and they helped us with our college tuition. When it came to superficial expenses - they expected us to pay for it ourselves. I'm thankful my parents were able to support us with all the school activities we did as kids and then with cars and college as we got older. I know that my parents budgeted their funds in order to afford these things and I'm proud of them for doing so. By them not merely handing out money left and right to us to go shopping or the movies with friends they were able to save and provide us with more valuable purchases in the long run. What better way to teach your kids financial responsibility than to be the role model of it.
However, one big factor I must point out is we NEVER received allowance for chores or money for doing well in school. We were expected to help out around the house because we were apart of the family and everyone needed to pitch in. We learned to have pride in our school work for ourselves - not merely because there was a financial reward involved. That isn't to say there weren't times when chores were left undone or poor grades and behavior at school occurred (we were not perfect kids by any means) but the lesson to learn as a child is the effect these behaviors have on other aspects of our lives not simply the financial part. Financial literacy and responsibility is an extremely crucial skill that our society should be focusing on at a young age but there are other life lessons to learn as well, such as self-motivation and self-assurance.
My parents did not pay for my college. I was the first one to go to college in my family. I figured out how to pay for my entire undergraduate degree. I even made a surplus and was able to live off campus and live in an apartment and pay all of the bills. It was so good for me because I have recently graduated and now have a full time job and have to pay all my bills, because I am an adult!! It is not a bad thing to make your kids pay for the big things like a car or college.
Krista Weaver teach your ways omg!
College is so expensive these days. It’s not like how it was in 1980 when you could work over the summer and pay for it in full by August. It’s great you paid for it yourself but I hate when people are so flippant about it.
Same! I was the first one in my family to go to college and I paid for it myself and even lived on my own for part of it (I'm currently living back with my parents because I have to get jaw surgery that will put me out of work for a month+) but I'm not in debt and have a healthy savings! I also bought my last two cars, though my parents bought me my first (used) car, which was 3k. (It was actually a surprise, I had saved the money for the car, but my parents wanted to reward me in high school for good grades and working hard at my job. So the money I had saved stayed in my savings!)
Oh! And part of my trick with college was I told myself I would NOT go into debt/ take out loans for school! I planned that if one semester I didn't have the money to pay, I would take that quarter/semester off and just work full time and save money for the next quarter/ semester. Thankfully I worked enough and made enough money that I didn't ever have to do this. But I would have done it without hesitation if I didn't have the money, as I freak out at the idea of taking on debt!
That's nice and all for you but kids wont be paying for college themselves I'm currently doing it now and legit think my parents were irresponsible for even having me without planning for my future. I'm thousands in debt to my ass an not even in graduate school yet and its truly ridiculously. I work 60 hours a week because I dont even get enough in loans and Grant's to cover costs and as a result of working so much not only do I have to worry about the debt I also have to worry about my grades not being as a great as they could be because I dont have enough time to study. I swear I'm not doing that to my kids I dont see the point in having them if I'm not willing to invest into their success. Now a car is a different story. I bought my own car with little sweat off my brow and it wasnt a necessity so I can see how that's a learning experience to working for wants but college is a necessity in this day and raising kids only to cut them off after high school when they cant be successful without a degree or trade is trash parenting.
I'm not big about sharing rules. That's just not how life works. I like to teach the kids that we want to be nice, and it makes me so happy when they're nice and so sad when they're not. Being nice includes sharing, but I don't make them. I give them the choice to say no if someone asks if they can play with the toy. If they say no, they have to give a specific time that they will pass on the toy. Example: "That toy looks fun! Can I play with it??" "I'm having fun with it right now. I'd love to share it with you in five minutes." Just stuff like that. I encourage sharing, but it's not required. And if a toy belongs to one kid, the other kids have to ask that kid if they can play, and they have to respect the answer.
Do you also do that with guests, or just between your children? I have two and I don't ALWAYS make them share, unless they're being bratty about it. But I ALWAYS make them share with guests.
I am currently in college and I have gotten scholarships to cover almost everything. I do not work as my parents are both teachers and they are strong believers that going to school and getting good grades is my job. My parents also paid for everything that I NEEDED!! If I wanted something like fancy makeup, clothes, etc. that were not something that was necessary, then that was on me to pay for that.
I highly suggest not putting the money into an education only account, as that is what my parents did for part of the money, but my sister and I both got amazing scholarships that paid for almost all of our schooling. We both have separate accounts as well that our parents put money into and we have the same rule as you. They will match anything that we save, up to the total in the account. The nice thing about this account is this works for whatever we want it to, such as a car, down payment on a house, wedding party, etc. so this money is all we get and we have to learn what is most important in our lives.
I have 5 kids, all are 5 years old and younger! Thank you so much for this video! My 5, 4 and 3 years old are starting to ask for almost everything they see on youtube. So this video was super educational and very helpful to me. I was struggling to find out how to save money and raise 5 kids but this video had given me so much strength and faith. Thank you.
It’s so nice to hear what is working for other parents and how they are teaching their kids values and skills.
We just had our 5th baby and our oldest is 7! It's so tough to "deny" my kids the things their schools friends have. In my moments of weakness, it really helps me as a parent to see others teaching their kids to have the same values and remind me that we are raising our kids responsibly.
Listening to this advice from Kenya. I believe I will make better decisions raising my six year old girl. Thank you Jordan
Our 4 children are grown,and I will say we did a pretty good job with them. But I sure wish youtube and you guys were around when I was a yound mom. Young parents, this is awesome advice. Bless you both
Can I just say that you have taught me so much and not just about money. You are both wonderful examples of appreciation. You shine appreciation by how you love your babies, by teaching so many people, by your faith, by your kindness and by your love. You are AWESOME!
Our allowance is based on attitude for the 8 year old boy. If his attitude stinks about chores or anything then 10 cents off ($1/week for allowance). He can earn 25 cents for each chapter book he reads. Chores are just expected as being part of the house. They can’t get an allowance until they can tie their shoes.
My parents are paying for my college. I don’t think there is anything wrong with that. The university I go to is an extremely good school. The mindset in my household was you focus on getting in and they will focus on paying for it. I realize that is a luxury for some.
I am like your brother I would much rather have a smaller amount of stuff but have designer or just Nordstrom like stuff in my closet. But I also go straight to the sale racks in the nicer stores. I have gotten a lot of designer stuff over 50% off it’s about shopping smart not necessarily shopping at cheap stores.
Hey guys!!! Susan here, from India. I am so glad such parenting still exists. I thought I was the only weird one😂. Great going. Thanks for taking the time out and giving all the tips. God bless you family 😊
We also have an amazing Goodwill. I don't know if it's just because we have tons of kids in this area, but you would be surprised what you might find at our Goodwill. It actually has a reputation where people have driven from literally the other side of town to come to this Goodwill. I think because most everything I've ever found is in such great shape, some things still with tags and NEVER worn.
I was always a thrift store shopper. If brands are important to someone, they can still find them but it is much cheaper
Very true!
I am taking notes. This info is gold! I've just started binge watching and I am learning SO much! I am going to make a lot of changes in how I do things:) Thank you Jordan and Bubba!
You guys are so much down to earth!!! My kids also wear uniforms to school and I’m so thankful for that ,because I don’t have to buy them a lot of clothes until summer break.
love hearing how you each were raised, so fun!
Jordan and Bubba, you two are amazing human beings. My heart resonates with you guys soooo much! We only have two children but character building is soooo important to my husband and I as well. Thank you for making a difference in the world. God is using you mightily! One thing on my bucket list is to just get to spend a day with you, asking you questions and observing! That would be amaaaazing!!!! God bless you in all you do and thank you so so much!
We believe going to school is our kids job, so they get paid for it. Also, they get bonuses on report cards each quarter depending on their performance. They have to learn budgeting responsibility as this is the only way they can get things they want while we take care of their needs. It’s been a beautiful system so far the last few years!
I would love to hear other peoples opinion on this honestly. Personally I always hated school. Up until I was in my last year of high school I did really well and always had such a bad concience I always spent all my time on school, but it got to the point where I was fed up with it, I didn't know what I wanted to "be" as i grew up, and I had zero motivation. All I could think of was how this is taking up a shitload of my time and I wasn't even getting paid for it. My mom kept saying "this is your job" and i said "no, jobs pay you". I know it's investment for the long run (now), but I'm pretty sure being paid for school would give me extra motivation. Although I've never liked taking money from my parents so not sure how that'd work..
It would have demotivated me because I was bad at quite a few subjects. Though, I had little motivation in those subjects because it seemed that no matter how hard I tried- I wasn't getting it. I definitely preferred chores, although if we had a good report card sometimes we got money. My parents always overlooked math and science because they were my poor subjects and they knew I tried.
@@marinordskog1073 Did your mom make you go get a job? I tell my students school is their job (teaching is mine). They not get paid but they don't pay for anything themselves.
That's an interesting idea! I would have been a straight A student! Lolol. We homeschool so.... that's not happening. 🤣
Thank you for this video, love the advise, definitely want to raise my kids to value things and be respectful adults.
Thanks for watching!! And yes, that's the hope!
We have a star chart system for our 3 year old. He gets a star when he cleans his toys, shares his toys, gets himself ready, helps out mum and dad with chores and also if he behaves well in church. Lol. It sort of works. And as the price of the toy increases, the more number of stars he has got to earn. I love the tip on buying one snowcone and sharing it. Would love to see more videos on your parenting style. You guys are an awesome couple. God bless!
Gosh, I learnt a heck of a lot with this video, you guys are awesome parents & your kids will thank you one day
Greetings from Port Elizabeth, South Africa
Alicia Una Ryan Right?! I'm like, let me take notes!
Aw thanks so much guys!!
I'm late, I agree and I live in J-bay. Just though I'd share...
You guys are just awesome and I can't thank you enough for sharing so much of your life, children and philosophies with us. My kids are young but I am eager to implement so much of this and learn so much from you. It's obvious how much work and love you put into raising your children. And it sounds silly, but with following you on social media, I can't wait to see your kids grow and the people they'll become :) Enjoy the last of summer! ❤️
Nicest comment ever, thank you so much!! XO
Mom2mom sales are a lifesaver. I have a 3 and 4 year old and over their lifetimes I have only gotten new items for them a few times, and that only if they hit a growth spurt unexpectedly. 80% of their wardrobe is secondhand the other is shoes and other clothing that grandparents buy new.
I shop for my boy especially at the Goodwill. He would spill food and play outside at daycare...not spending a lot of money on clothes that is going to get so dirty...
Yes I agree!
I am 13 my parents have me do chores like take care of pets, put dishes away, vacuum the floor and other stuff and I get allowance every month and when I go out with my friends and buy stuff I use my allowance money for that
That's perfect!
I got Nike cleats for my 5 year old last year at a children's consignment store for $8. They were barely worn.
That's amazing!
Shannen Reddy nice - that’s a steal!
You guys are the cutest couple!!! You're great models for my husband and I!
With my husband being in the ministry we didn’t have a lot of money so we told our kids you are going to college but you will have to work for it. Well, in Ky they earned money by being on honor roll called keys money. They paid for all of their college! We told them if they stayed on honor roll all four years we would buy them a car(new to them...ie used) so they did and we held up our end. We have gotten so much gratitude from them saying we are so glad you didn’t give us everything like our friends that don’t appreciate what they have.
You guys are so amazing and inspiring for those of us just getting into the nitty gritty of parenting littles! I am so so glad I found your channel
We are a family of 8 with 6 children and one stepson and grandchild on the way. I love your money tips . Thank u .
Wow God bless you, congrats on the big family. Goals!
What are your "zones" and what happens if they don't get their chart done for the day? Do you not get to play, etc?
Melissa Mears I
Absolutely loved all your tips! Definitely changed my thought process to parenting. Now I'm so hooked to watching more videos and looking into where I can pinch $ to get more educated with your budget program. Thanks for all your time and goofy personality. You folks totally made my day and made me look at planning in a more fun way!
Your little brother sounds exactly like my sister in law!!!! She refuses hand-me-downs and I’m over here like “ILL TAKE THEM ALL!!!!!” My kids are also really tall for their age so they go through clothes like CRAZY!
i watched the whole video and yes it was a long one but it was SO good. you guys are so captivating it didn't feel long.
Amen to babysitting. I got basics too, school supplies, but everything I wanted frat cost more than the allowance they allotted. I bought my own car, ironically a very unplanned divorce, my Daddy steeped in because at that point vert well off, not rich, but after horrific divorce, Daddy bought me a car. I’m now remarried, blended out family. While, I do allowance, chores are NOT paid for. Extra work is where I negotiate chores and prices. Every Child, is self sufficient, I am grateful I learned to work hard. I respected my parents, I also respected the items I purchased. I took great care of it. Now my children are hard workers, frugal, have a great respect for money. As a blended family, my kids grew up on a farm and learned chores from as long as they remember. I help my kids, we make exceptions but still set limits. Jordan, great advice
🥰🥰
Never noticed before bubba looks a bit like Tom hanks! Xx
April Dunham omg yes!!
April Dunham omg now I can't unsee it!! 😂
It's definitely there! All I can say is well done Jordan! 😍 Xx
I've always said that!!!!!
Yeah, exactly my thoughts especially when he said technical difficulties!😁
Y'all are so cool! We're planning to use your budget tips when my husband starts his new job, but using this time leading up to it to "practice." We're doing a 1 day spending freeze to "try it out" Thank you for your hard work to teach the rest of us!
You can do it!! 1 day won't do a whole lot so keep trying to work up to 1 week and you'll be shocked at how awesome it is!
Absolutely. 1 day at a time to get hubs on board 😉
Just a quick tip. If you have thrifted school clothes and they are faded, just brighten them up by using fabric dye. I am always using black fabric dye for my sons dance school clothes (they are washed non stop) and they fade quickly, so I just put them in the washing machine with the fabric dye and whalah! they look brand new.
That is an awesome tip!
My sister loves name brand! Nike, Jordan , polo! My mom buys all of that no question asked, I myself don’t care about brands, I’m cheap! If it looks nice I’ll like it I shop at Ross, Burlington ect. I think it’s how you raise your kids as well.
Jordyn, My husband and I have 4 children ages 11-19 and we are also raising our 3 nieces and nephew. We are a family of 10!!!! I so enjoy your UA-cam's... I have picked up some great advice especially budgeting groceries... travel softball and baseball for 5 of the children is killing us though!
wow nice , l love it! great advice and we had our kids buy their own clothes and pay for their activities like bball and choir trips and cheering and piano etc at age 8. l never did allowance but provided a way for them to make money. YES, I LOVE THE HATS! l got 25 cents an hour for babysitting, 35 cents if l cleaned the house.
Thank you for this! I’ve been trying to figure out how to let my kids earn money, and learn the responsibility of money, but still do things cause they are a person in our house. This helped solidify some of the thoughts I’ve had!
I must say how much I enjoy your videos! I do agree with your statements and ideas on teaching responsibility to our children. However, I do disagree (in my own personal opinion) about having our children "figure out for themselves" how to pay for college. I believe that (if at all possible) the parents should be held responsible for that as a gift for their child(ren)'s future. I struggled with 3 jobs to pay my way through college and it was not fun. I ended up hating college and had much anxiety over how to pay for my educational expenses rather than enjoy my youth in the process (PS - I had great grades in college). I would want for my children to never have to worry about this and enjoy college. With that being said, I think you are awesome and the videos of you and your husband are adorable! Thank you.
Bo knows kicks! Lol can you please do a kids chores template!!
I need this for my daughter
My family is great about hand-me-downs! Whenever a baby comes along the parents are sent any clothes/toys for that age from people with kids that outgrew them. Always great to save old things to bless others with!! Especially baby clothes since they don’t get SUPER dirty like toddlers 😁
Love it! Adjusting parent mindset. No we can’t afford it! To how can we? Helping kids to working out saving for things they want.
We did a similar thing with our kids. But we had them checking of 5 cent squares. Five cents per extra job. My daughter saved up enough money for $125 doll. To this day she knows she can have anything she wants, if she puts her mind to it and works hard.
I totally agree, my son just bought his 1st car, well 2nd car. He originally bought my mom's car and 1 month after he got hitby a car that was driving in the opposite lane and my son was the 3rdcar out of 4 that were hit with a guy that was supposedly falling asleep driving in oncoming traffic. Thank God he was ok and nobody was hurt bad. My son is making his payments to my parents along with rent. He is 20 years old, & has an excellent work ethic. He always has anywhere from at least 2 jobs, although in winter he usually has 4 jobs. I am so happy with the way he is paying his cell phone which he is included on the family plan, but he pays his portion to my mom along with car insurance, and rent.
You guys are so inspirational.
I can’t wait to have my own children. ❤️
AMAZING!! My son is 8 months and I'm so inspired to teach him about money! Haha :)
Loved hearing your thoughts especially about the chore chart and allowances. Great ideas to implement when my son is older!
I plan to open a savings account for a future child to use for college, but it will work as a savings account. They will have to earn a certain GPA, do so many hours in extra curriculars, etc. They will be able to use the money for tuition, books and supplies, and rent (with a limit - they can have a nice apartment but not the most expensive one.) I want my child to not have to worry about student debt (I have a ton) but I also don't want them to blow off their education because "mom and dad paid for it"
I used to get to get $20 a week for just like keeping my things picked up, keeping my room clean. Pretty much just not making a mess for other people to clean up. I’d do my laundry ect. I think I’m very blessed.
Loved this video! I personally pay my kids monthly, but they know, if they don't do their chores, mom will deduct money😁. I also never went back to school shopping, I always buy thru out the year whenever they grow out of something. That way I don't have to spend too much at once, rather bits here and there. Which is more affordable for me.
My mom made a chore list for my sisters and I. I’m 14 my sister is 13 in 2 months and we get 5cents a chore. I have chores like wash the dog and take out the trash which i barely get to check off on my list bc i can’t wash my dogs everyday and the trash isn’t always full so I had a smaller job that i could do along with the category so i can actually earn money. Sorry if that doesn’t make since but anyways if we get 20 of our chores circled throughout the week we get 8 dollars along with if we get over 20 it’s 5 cents for any extra chores but if we don’t make 20 chores we get 5 chants for the chores we did. hope it makes since ☺️
I pay my kids to read books! Learned this tip from John Maxwell!
Yay for reading!
I would have totally loved that as a kid because my favorite thing growing up was to read. I try to encourage my nephew to read but I think that he prefers games. I should see if a mario book exists or something. His homework is reading now so I think the interest is dying and it makes me sad.
We match minutes of reading to how much to they get to watch. They earn a dr. Seuss bookmark for every 30 minutes they read so if they want to watch a movie that's 2 hours long they have to turn in for bookmarks!
Lord, I'd be broke in a week with my kids.
Oh glad to know I’m not the only one ! 😂
I'm 17 and I budget my money. I don't let my parents buy me expensive extras. I shop at walmart, dollar tree, goodwill, other secondhand stores. I'm now planning on how I'm going to pay for college, a car, a house, ect. I have a plan and if goes well, I'll have enough money for a down payment for a house and car plus extra money for savings.
Growing up in an Asian household, my siblings and I did not get an allowance but we were required to do chores and clean and all that. But we do get Chinese New Year envelopes where we are required to save for life(this taught us young to save up and instead of instant gratification of receiving the money we physically went to the bank and deposited it) and college meaning once you turn 18 years old. We did receive money if we wanted to go to the movies but were required to bring home receipts and change and give back the money not used. All of us were also required to volunteer and give back to the community so I volunteered in the hospital and community centers and public libraries. As I got older, I worked as a babysitter, dog walker, and tutor.
Can you PLEASE make another kids budget video? I’m a single mom of twin 4 year olds. Their dad and I have a good relationship and split some things but I have them 100% of the time so a lot of it is on me. I’d love to know your thoughts on paying tuition? How best to pay allowance (I’m thinking 25¢ per day rather than $2 per week)? How to split finances/responsibilities when the parents aren’t a couple? What do you budget for birthdays (I saw Christmas)? I’m loving budget bootcamp! My situation is just odd, and so is the state of the world so I have 1,000 questions!
With all these bank accounts, do you have any investment or high interest rate accounts so that your sitting money is making money for you? Especially for retirement and college
My 13 years old daughter LOVES thrift stores and finding quality used clothes for a deal. I've done it for years and now she's hooked. We'll often announce how much our outfit is that we're wearing. :-D Sometimes it's, "Shirt. Pants. $3." Note: we always buy new undies! ;)
Lol! My teenage girls head straight to the clearance rack when shopping! That's what momma showed em! Great advice love your channel!
im sooo happy you teach them to tithe thats sooo important!
Just joined the tribe and I freaking love Jordan she seems like the type of mom friend I would love having! After watching a few video I must say that no wonder they have so many kids I think twins are almost due maybe they are born but in this video Bubba looking GOOOOOOOOD!!!! I love how he supports her! Bubba is hubba hubba!#Couple goals
We never gave allowance either but we did give them cash. They had chores to do but we didn’t pay them for that bc we felt they were members of a family and they knew that the family worked best when all people did their chores. Kind of being part of a working machine if that makes sense.
They banked all of their birthday and Christmas money until they were teenagers and had jobs and each kid had a trustee savings account from birth.
We didn’t buy them cars but we agreed to match their bank accounts up to a certain amount for one.
We bought clothes but if they wanted something super expensive then they had to make up the difference from what I was willing to pay for it!
Learn so much from your videos! Love you both answering questions and that you make it so entertaining- Thanks for doing these:)
We give our kids an allowance for their age each week. They are to tithe 10%, save 10%, then the 80% is for them to spend. But not just to blow. It like if they go with a friend or want something extra. Like our one child wanted light up shoes so I said sure you can buy them.
Watching this late but I lived in Concord for 10 years and was born in Oregon and have been back since 2002. I knew I liked you all for a reason ;)
NO WAY!!!! We're basically related! haha ;)
It was a hoot when jordan said '5 kids in 6 yrs', the funny expression on bubbas face was priceless! lol 😟
I have a new baby and this is great to know for the future!
I paid my way through university (I just graduated..don’t say it was a billion years ago lol). It was very expensive. I worked 40 hrs a week and didn’t have as much time to focus on school as I should have. One day when I have kids I don’t want them to stress about money, butttttt I do believe it taught me a lot of respect for my education. I think kids should have to pay a significant portion (maybe half..and not using loans) and I will try to save enough for the rest. It’s a good mix!
My parents approached things differently. They believed- and rightly so!- that parental responsibilities included paying for basics. Basics meant a roof over your head, food, clothing, medical treatment and of course education. If you aren't prepared to pay for those, you shouldn't be a parent! Having said that, they shouldn't have to pay for every extravagant clothing item or toy a kid wants. Of course not! If I wanted an expensive, unnecessary piece of clothing then yes, I had to save up or use my babysitting money. But pay for my education? Never! That's a parent's responsibility just like paying for medicine is. Of course many can't do this and no parent should pay ad infinitum for a kid to "find herself" through 10 years of under grad but a basic university degree? Absolutely! If you can't afford it or have a very large family that is different of course. (Especially in America where you pay about twice what Canadians like me pay for kids to go to college.) Your kids may need student loans or scholarships or to supplement with a part time job. Or you may need to do what my friend's large family did and pay for only the first year of college for each child. Studies have proven that kids who have their schooling paid for are just as good at managing money as those who didn't. Those who worked for it are no better off or more appreciative. They are just in debt and what responsible parent puts their kid in that position if they don't have to?
When you’ve watched so many JP videos that you know the exact second during the intro to fast forward so you get to hear the first word JP says 😂😂😂
🤣🤣
Our goal is to pay for half of our kids college and they have to figure out the other half. Our daughter is starting college next week. She earned scholarships that paid for over half of her bill for the first semester. So far, so good.
Do you have a video that you talk about retirement and how you figure that into your budget? Love all your helpful tips!
Jordan, if you open the video on your computer, using the pause button and a program called snipping tool, you can save that picture from the beginning of your video! Hope I helped!
EDIT:
The brand thing is totally me. There were some brands I preferred for certain items but I bought less of those things. I just wanted something of that brand- like Express, I've only a few Express items. The bulk of my back to school shopping was at Plato's Closet. I've gotten tanks and shirts for $3 a piece there before. Some of my best items were no-name brands that simply looked cool. My husband was definitely quantity over brand as well and only started liking some brands during college because I enjoyed seeing him in American Eagle and Aeropostale was the only place that had cargo shorts (well, until they disappeared). His brother on the other hand valued brand and often had only a few new pieces to his wardrobe with his back to school money where my husband had shopped smarter. My sister was a lot like me because we were both trained to head straight over to a sale rack. I still head straight over the the sale rack, lol. My mom simply wouldn't buy us things that weren't on sale and if she did, we had to chip in for it but usually if we didn't find it on sale at one store, we moved onto another store. Old Navy and $9.99 Stockroom (now Rue21- although their prices now don't reflect how cheap they used to be) were a main spot for us a long with Kohl's. I prefer Ross and Charlotte Russe now. Charlotte Russe's skinny jeans fit me and it's a significant price difference from AE! I don't even go in AE anymore!
EDIT 2:
I LOVED hand-me-downs! Church friends and relatives used to give my mom garbage bagfuls of clothes for me and my sister. Normally, they didn't fit my sister but I LOVED it! It was so exciting to see what I had gotten that it was like Christmas every time. I used to try on everything and model it for my mother, haha. I was the lucky one because the girl who always gave us her clothes was skinny like me though my friend would give us clothes and sometimes those fit my sister.
Jordan makes budgeting fun!!!
I’ve been learning so much from you !!!! Thanks so much for all your post. They have been extremely helpful:)
My girls 13 and 15 volunteer at a thrift store once a week they get clothes for working. It's a wonderful way to transition into the world . I no longer buy clothes for them besides under clothes we still get them new lol
what an awesome couple! love the values and lessons they teach their kids! :)
Walmart has stepped up their clothing game big time! We bought our 3 kids’ summer wardrobes there for next to nothing. And I’m sure little kids in China made it but we buy very minimal amounts of clothes so I didn’t feel so bad. These kids live on 20 acres, they destroy clothes. $7 dress will last 1 day, then it’s an “outside” dress 👍🏻 We’ve just started the allowance thing, our oldest is 7, wish we could’ve started earlier. Thanks for the tips!
My mom budgets $100 a month for me (oldest daughter) $50 for my younger sister, and $75 for my brother bc he’s the only boy but he gets occasional hand me downs from cousins. If we don’t spend it, we get to roll it over til the next month, and so when we want to go shopping we have however much money we ‘save’. I save mine all year and every 6 months I go on a trip to Old navy and spend my money along with gift cards I ask for, for holidays. since I started babysitting at 13, I have payed for my own things. Every activity, or other special item that wasn’t clothing or school/sport supply.
Loving the Q&A Tuesdays!
Same babysitting literally paid for everything. Ever since I started babysitting I paid for basically everything!
Oregon coast here! Whoop whoop! Love your videos!
My happy place! Cannon Beach and Seaside!
What's the website for your merch?
I actually never learned to go to clearance racks first when my Mom bought clothes for me because she automatically went right to whatever she felt I needed. Instead, I was the one who dragged her to clearance racks and second type stores because I would tell her full price was a waste of money. She would get angry because she wanted me to buy whatever I wanted. And in those days it was common for parents to give their credit card to their kids and while my Mom was responsible financially, still I hated her credit card even in my wallet. But had I refused to take it, she would get mad. So I took it, and then had to try to find something to buy to keep her happy, do I would like buy a 9.99 item. My friends thought I was insane not to buy stuff, but honestly it made me sick. Then, when I was in college, yo establish credit si briefly got 1 department store credit card and 1 main credit card. That icky feeling came back, and after a year of so, I got rid of them. That was decades ago, AI am not almost 50 years old and haveng held a credit card since!!!! I buy everything cash instead. My hubby is fine with credit cards, carrying debt so we are on opposite sides of finances. But still, I today only drop clearance racks and look for deep discounts. I love Sears, and buy from their clearance rack 99 cent and 1.99 dollar items. One example is I Literally have bought 35 pairs of shoes from there for 35.00. Not kidding! People dislike Sears today , but their clearance sales on the best out there. No one realizes how much can be saved there. Buy hey, more for my family!!!
I didn't have an allowance and my bio father was really financially irresponsible so I did all the budgeting and helped my mom stay in budget
Such a great video! Shout out to Bubba and everyone else from the Bay Area! I was born and raised in SF, and my mom was very similar in regards to the allowance thing.
Love this idea and all your videos! How do you tackle their birthday and Christmas gifts?