Kids' souvenir budget

[mcm574]

I want to give my kids the opportunity to each pick out their own souvenirs (both for the memories, and for the learn-how-to-manage-your-money lesson it imparts) - as such, I want to give them each a total dollar amount and let them both know that they can choose to buy 2 or 3 small things, or 1 nicer, bigger thing.

What's the right dollar amount for that? My inclination is $50 - I'd be interested to hear others' thoughts. TIA!

 

[sponica]

Are snacks included in the souvenir budget or are they separate? Because I'd totally end up blowing my money on Mickey Ice Cream bars...

My best answer is that it's what ever amount "feels right" to you. I think $50 dollars is a lot, but that's just my own idiosyncratic relationship with money.

 

[mcm574]

Snacks are separate, thanks for checking!

The reason I was posing the question is that, as an infrequent WDW-goer, while I know costs will be elevated above the "real world," I have no concept of how much. Would $50 buy a nice sweatshirt? One sizeable stuffed animal? A cool piece of art? Or could I get such things for $40? $30? Again, part of my goal is to help illustrate the difference between buying a few small, cheap things and one nicer big thing - so I want to ensure that the dollar amount I set is sufficient for a nicer big thing. I hope this makes sense!

 

[Rschall]

What a good idea. I am going to borrow this idea. We have three children and I know there will be many shops

 

[LMA712014]

So we started our kids with a base amount of $20 for the trip and they were given opportunities to earn additional spending money with extra chores up until the time we left (and deductions for consequences).

It actually worked really well and kept them self aware!

 

[mcm574]

Oh, wow, that’s next level - impressive! Can I ask what chores they did (assuming they were different from the usual)?

 

[DizneyMommy]

Going by DL, which shouldn’t be drastically different, $50 would buy a sweater (just barely for adult sizes), larger stuffed animal, or a larger toy, not sure about art as I can’t say I’ve looked at prices on that but probably not. Or it could buy a hat, Mickey ears and a candy for the road. I’d say you’re right in line with your intent at $50. My kids are 13 and 10 and we are giving them each a $50 gift card for their budget, plus they have their own money they’ve earned in USAA youth debit accounts if they want to spend more. We haven’t been to WDW in 7 years and it might be another 5 before we go back so it’s not something we do often. We have DL AP’s and we do not do that at home because we go so often, we’d go broke!

 

[LMA712014]

Oh, wow, that’s next level - impressive! Can I ask what chores they did (assuming they were different from the usual)?

We have toddlers so nothing too crazy aggressive - they helped with cleaning beyond what they usually do (more laundry folding and putting away, wiping down counters, loading and unloading the dishwasher). Our daughter is a little older so she helped me more with some cooking, etc.

 

[ENJDisneyFan]

My kids usually have between $75-100 each in Disney gift cards. Typically those are saved up from birthdays/Christmas leading up to the trip, but we'll often supplement whatever they have to get them to around 100. We've found they are much more selective with their purchases when it's "their" money being spent and they know that once it's gone, it's gone.

 

[LMA712014]

My kids usually have between $75-100 each in Disney gift cards. Typically those are saved up from birthdays/Christmas leading up to the trip, but we'll often supplement whatever they have to get them to around 100. We've found they are much more selective with their purchases when it's "their" money being spent and they know that once it's gone, it's gone.

Our 4yo learned that lesson on our trip last month. She was so eager to spend her money from the get go, and not thrilled when she ‘ran out’ before the end. Lessons in budgeting ahoy!

 

[Klayfish]

How old are the kids?

For our kids, who are now 13 (nearly 14), 10, 10, we sort of let them make their own decisions with their money. They earn money through allowance, chores, their b-day, Xmas, etc... They have a bank account that DW and I put some of that money in, but they also each of their own wallet. Certainly we have to approve any purchases, but we let them make their own decisions how to spend it. We remind them often that they should be saving "Disney money", and that thought process goes in for everything they do. They all actually have a separate envelope they keep "Disney money" in. So when we go to WDW, whatever they're saved is whatever they have to spend. Through our repeated discussions with them, they're all pretty smart about it. DS10 especially, he's cheap, just like his father. They all have several hundred dollars when we go down. However, they never wind up spending it all. Even when we're down there, while we let them buy things, we try to talk them through the "do you really want this or is it just an impulse decision" process. They do quite well with it. And sure, we do let them buy something on an impulse from time to time, but it's usually a small trinket, nothing "big". I'd say our kids spend about $75 each during a 2 week trip, maybe $100 if they feel like splurging.

If this is an infrequent trip, and you've got the financial resources, I'd have no problem with them having $100 each, or even $200. Things in WDW are quite expensive. A sweatshirt can be $50...easily. I'd just be sure to walk them through the process of making good decisions on what to buy, not just buying something because it's burning a hole in their pocket.

Frankly, as I mentioned earlier, I'm quite cheap. We do all kinds of things to save money on our trips...stay offsite (we would do it even if it weren't a money issue, but the money is nice), pack our own food, etc... When we're there, we don't buy experiences, etc... On a 2 week trip, I'd guess DW and I spend less than $50 total on WDW stuff (snacks for the kids or us not included...even that isn't much). However, having said that, this summer is the last trip we have on our AP and we don't plan to renew. I'm sure we'll be back to WDW, but it may be a few years. I've been squirreling money away since last summer...I plan to head down with $1000 minimum in spending money and just do things we normally wouldn't do, or buy things we normally wouldn't. Certainly not going to go hog wild...but splurge more than we normally do.

 

[MainMom]

My kids are 16 and 12. They each have $50 GC to spend and I have no problem giving them another $50 for our trip in 2 weeks. They have talked to me about what they would like to buy-DD Disney themed travel cup for school/sports, phone case, a caricature; DS so far only really wants a phone case. I find their choices to be practical and things that I know they will treasure. My DD16 had an artist draw her a 101 Dalmatians picture at the drawing place in HS before it closed. When we got home she had it framed and it hangs on her wall. That’s how I know she will appreciate a caricature and I have no problem paying for it.

 

[T3Erin]

My kids are 10, 8 (will be by trip), and 6. They're each getting a $50 gift card to spend how they want. We've told them that we will buy one "nice" souvenir, and the rest is on them. The 6 year old will buy cheap stuff because he's still in the quantity over quality mindset. The middle kid goes back and forth but is usually pretty good at judging whether something is worth it for him. The oldest will probably hold out until the last day or two before she decides what she wants to spend on. Snacks are on Mom and Dad.

 

[mcm574]

Thanks, everyone, for the thoughtful input! I realized I didn't specify that my kids are 4 and 9, which will obviously make a difference in what chores I can have them do, how much money I even trust them with, etc. Also, I imagine it will be years before we're back at WDW, so I do want them the opportunity to get something special, while I also do want them to learn to be thoughtful about money, as stated above. Lots to think about!...

 

[JustCallMeMommy]

I'm a pushover when it comes to souvenirs, but the best thing I ever did was tell DD that we were going to write down every thing we wanted during the trip and then we'd review the list on the last day and go back for the items we still really wanted. We note the store, price, and an item description. We have continued this every trip since, and it works really well for us.

 

[mi*vida*loca]

Vacation is an escape from reality so we do go a bit extra when at WDW or on vacation. I teach them money management skills every other day of the year. Vacation is our time away from that. I try not to say no too much. I don't even try to say no to myself too much on vacation! ha! I don't give my kids a budget but I also don't get them every single thing they say they want. I play it by ear. I can usually tell when it's something they just want in the moment or something they really want. They usually get 2-3 things per trip ranging around $20-50. Next trip DD has requested a phone case. I want to surprise her with matching pick a pearl necklaces in Japan. I also want to do a caricature.

 

[sponica]

Snacks are separate, thanks for checking!

The reason I was posing the question is that, as an infrequent WDW-goer, while I know costs will be elevated above the "real world," I have no concept of how much. Would $50 buy a nice sweatshirt? One sizeable stuffed animal? A cool piece of art? Or could I get such things for $40? $30? Again, part of my goal is to help illustrate the difference between buying a few small, cheap things and one nicer big thing - so I want to ensure that the dollar amount I set is sufficient for a nicer big thing. I hope this makes sense!

Definitely makes sense.

I'm spoiled in that there's a Disney store at the outlet center in town, so when I'm in the parks, I make sure I buy something that's park authentic. (I'd make sure your kids do that, nothing worse than buying something in the parks, putting it on an airplane and then seeing it in target or wherever)

 

[friedela]

I want to give my kids the opportunity to each pick out their own souvenirs (both for the memories, and for the learn-how-to-manage-your-money lesson it imparts) - as such, I want to give them each a total dollar amount and let them both know that they can choose to buy 2 or 3 small things, or 1 nicer, bigger thing.

What's the right dollar amount for that? My inclination is $50 - I'd be interested to hear others' thoughts. TIA!

We did $100 per kid (all given to them from Grandparents) and my kids blew it all in the first day, lol. It was a good lesson for them on day 5 when they saw other things they wanted only for us to say, "sorry kiddo! You already spent all your money". lol.

 

[juxtapose]

I have my daughter bring her allowance money. She gets about $1 a week (she's 5) so last time we went I think she brought about $50 and it lasted awhile. She knows she's saving it for her Disney trip so doesn't bother me to spend it on other things during the year. She got a necklace, small stuffed animal, and Mickey ears with her money last time.

 

[kreckl]

I want to give my kids the opportunity to each pick out their own souvenirs (both for the memories, and for the learn-how-to-manage-your-money lesson it imparts) - as such, I want to give them each a total dollar amount and let them both know that they can choose to buy 2 or 3 small things, or 1 nicer, bigger thing.

What's the right dollar amount for that? My inclination is $50 - I'd be interested to hear others' thoughts. TIA!

How old are your kids?