facebookThis question is for parents. Do you plan to receive monthly allowance from your kids when they start work? Or will this practice become increasingly uncommon? - Seedly

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Mujimoro

11 Mar 2020

Random

This question is for parents. Do you plan to receive monthly allowance from your kids when they start work? Or will this practice become increasingly uncommon?

Personally, I don’t plan to receive a single cent from my children. The money is theirs to build their own families.

I’m curious to know what other parents are thinking.

Discussion (32)

What are your thoughts?

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Not a parent yet, but i firmly believe that children are not a parents' retirement plans. One should prepared their own retirement plans, if possible.

That said, if my children start working & still stay in my residence, i would expect them to give me a monthly allowance in lieu of rent, utilities, groceries, misc.expenses

Cryotosensei

31 Dec 2019

Blogger at diaperfinancingfund.blogspot.com

No, I don't.

However, I do hope that my children can largely pay for their tertiary education. I think you tend to value stuff more that you have paid for - not sure if this is a popular view since people are pumping money into their children's educational funds left, right and centre, heh

I think we are approaching a generation where many traditions and cultures will be broken. This action is mainly an act of fillial piety and there are many other ways to show it.

Personally, i will not make it compulsory for them to do so. But if they are able to, i will still be happy as it will show that they are in good control of their finances.

Cedric Jamie Soh

24 Dec 2019

Director at Seniorcare.com.sg

Yes, i intend to receive from my kid. (Although its going to be probably another 20 yrs later)

But the idea is not to spend it, but to let me kid knows that he needs to prepare monthly allowance for family.

Think about it, when he grad and start earning, that is the first time in his life that he is going to have thousands and thousands of spending money that no one else can dictate him on what to do.

He may splurge it monthly as a young adult (i seen this with my friends)

so a bit of allowance for parents is good.

If I am blessed that I don't need his money, I will save it up for him and pass back to him on his wedding day.

Bjorn Ng

24 Dec 2019

Business Analyst at 10x Capital

For me, I plan not to receive any cent from my children in future, I would not specifically ask my k...

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