Influencer Defends Giving Kids $750 Each for Back-to-School Shopping, Says It Teaches Them ‘Basic Money Skills’ (Exclusive)

Influencer Defends Giving Children $750 Each for Back-to-School Shopping

An influencer has come under the spotlight for her unique parenting approach of giving her children a substantial amount – $750 each – for back-to-school shopping. Jessica Roderick, a 38-year-old mother from Tampa, Fla., believes in teaching her children real-world money skills from a young age by providing them with a quarterly allowance and increasing it during key times like back-to-school season.

Roderick started giving each of her three children a quarterly allowance of $500 when her youngest turned 7. She saw this as a strategic move to instil financial responsibility in them. As back-to-school time approached, she decided to raise their allowance to $750, allowing them the freedom to buy their own school supplies, clothes, and essentials with minimal restrictions.

Using tools like a kid-friendly debit card and beginner investment options, Roderick’s children are learning valuable lessons in tracking spending, saving, and even dipping their toes into the world of investing. She believes that by starting early, she is helping them develop strong budgeting habits and confidence with money that will benefit them throughout their lives.

Roderick acknowledges the lack of practical money management education in schools and has taken it upon herself to fill that gap at home. She wants her children to understand the value of money, learn responsible spending habits, and feel comfortable navigating financial decisions as they grow older. By introducing them to a debit card like Greenlight, she is giving them the tools to become financially savvy individuals.

The results of Roderick’s unique parenting method are already noticeable. She has seen a significant change in how her children approach money since they started receiving an allowance and were allowed to make their own financial choices. They have become more conscious of prices, actively comparing and evaluating the cost of items before making purchases.

While Roderick covers essential items like clothing, shoes, and hygiene products, she also sets boundaries when it comes to non-essential purchases. If her children overspend or don’t budget wisely, they face the consequences of having to forego certain luxuries, mirroring real-life financial responsibilities.

Roderick plans to continue providing her children with an allowance until they turn 18, even if they start earning money on their own as teenagers. She sees any additional earnings they make as a supplement to their financial education, allowing them to practice managing larger sums of money and making informed choices about spending, saving, or investing.

In conclusion, Roderick’s approach to teaching her children about money emphasises the importance of starting early and learning practical financial skills at home. By empowering her children with the knowledge and tools to navigate the complex world of finances, she hopes to set them up for success and equip them with the confidence to handle financial challenges in adulthood.Resources

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