Say your eleven year old son or daughter, for whatever reason, legitimately came into two grand in cash; would you allow him or her to keep it and spend it as they please, or would you insist that they put it in the bank, while you moderated how it was spent?

Shale wrote:

That kind of money goes into a bank with controls until the kid turns 18. No way does a kid have more than $20 on his person out in the community - and even then there is risk he would be killed for that.

or even less.

I'd let them keep a small portion of it but I'd make them put most of it away. They'd likely be too young to spend it intelligently and I would not want them to blow it all on youthful whims. Losing it would be a lesson learned, but at that age, it'd come at the price of their future. I would NOT spend it on myself but I'd make sure they saved most of it.

It would not go into the bank but most of it would go away into an account and build interest while they grew up and became mature enough to use it. When we were kids, our big money went into our own banks at home, so I'd let them keep out a couple hundred for those savings and maybe $100 to spend.

Two-grand is way too much for a child to spend freely. I would give him/her a small portion of it to spend, with the rest getting deposited.

I'll give him about 100 bucks, then the rest is going into his college fund.

Basically co-sign evryone else.

No. A kid that young can't be trusted with that much money. It would go into a saving account and on occasion, maybe I'd take withdraw small increments of it for them to have as spending money.

Alan Smithee wrote:

Basically co-sign evryone else.

The bank until the kid is old enough to spend it on his/her own.

The bank. I'd maybe withdraw $300-$500 to sporadically give to her here and there, but the rest is going in her trust fund.

Option B

That amount would go in the bank for sure.

He could have $500 of it spread out. The rest goes into the bank.