whoisjohngalt
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Post by whoisjohngalt on Dec 28, 2015 19:26:33 GMT -5
For certain reasons (and I can tell you if you are interested) I wanted to do little gifts to my kids and husband for New Years.
For other certain reasons (again, I can tell you, just didn't want to make this post 10 pgs long) I don't want it to be toys of any kind.
So, I came up with the idea of giving them Dunkin Donuts gift cards. $10 for each kid. More for husband.
They all love DD and I thought it would be a cool budgeting experiment to see how they do.
So, what do ya think?
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andi9899
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Post by andi9899 on Dec 28, 2015 19:30:09 GMT -5
I think it's a good idea. Never too early to teach them how to handle money.
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dannylion
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Post by dannylion on Dec 28, 2015 19:31:04 GMT -5
I think it sounds like fun, especially since it's something they all like, and really especially if it comes as a surprise they are not expecting.
Sounds like a good idea to me.
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giramomma
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Post by giramomma on Dec 28, 2015 19:38:12 GMT -5
I'm also in camp cute idea.
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Deleted
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Post by Deleted on Dec 28, 2015 19:40:13 GMT -5
Tim Horton's gift cards are a big hit up here. Not even a debate in my mind, it's a good idea.
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whoisjohngalt
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Post by whoisjohngalt on Dec 28, 2015 19:41:39 GMT -5
OK, good. Thanks guys
It will be interesting to see how long those GCs last for each kid.
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swamp
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Post by swamp on Dec 28, 2015 20:00:45 GMT -5
Tim Horton's gift cards are a big hit up here. Not even a debate in my mind, it's a good idea. That's what I gave my kids' teachers. They love me.
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whoisjohngalt
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Post by whoisjohngalt on Dec 28, 2015 20:02:27 GMT -5
Tim Horton's gift cards are a big hit up here. Not even a debate in my mind, it's a good idea. That's what I gave my kids' teachers. They love me. I told my husband since I am homeschooling our kids, I should get a huge teacher's gift. So far I haven't gotten anything
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swamp
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THEY’RE EATING THE DOGS!!!!!!!
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Post by swamp on Dec 28, 2015 20:03:13 GMT -5
That's what I gave my kids' teachers. They love me. I told my husband since I am homeschooling our kids, I should get a huge teacher's gift. So far I haven't gotten anything I agree with you.
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zibazinski
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Post by zibazinski on Dec 28, 2015 20:16:03 GMT -5
Let me tell you, no one refused my Starbucks gift cards either. Nothing better than a gift card unless it's to a restaurant like Applebee's that I hate.
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whoisjohngalt
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Post by whoisjohngalt on Dec 28, 2015 20:21:47 GMT -5
Let me tell you, no one refused my Starbucks gift cards either. Nothing better than a gift card unless it's to a restaurant like Applebee's that I hate. My kids love Starbucks as well.
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Deleted
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Post by Deleted on Dec 28, 2015 20:32:33 GMT -5
I agree except how does it work with a family? Do you keep the kids' cards to use for them? Do you give them to your husband when he takes them? What if he forgets to return them and the kids want to get doughnuts? Does each kid ring up his/her order separately if all of you go out together? What if someone only has 1.00 toward a doughnut and the doughnut costs $1.25? No doughnut? Subsidized doughnut?
It's a good idea in theory, but the logistics of everyone having their own giftcard to the same place with some of them really young would drive me crazy.
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Tennesseer
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Post by Tennesseer on Dec 28, 2015 20:37:39 GMT -5
'Start your new year off right with a fresh coffee and doughnut from Dunkin Dounts'
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billisonboard
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Post by billisonboard on Dec 28, 2015 20:46:02 GMT -5
... They all love DD and I thought it would be a cool budgeting experiment to see how they do. So, what do ya think? ... It will be interesting to see how long those GCs last for each kid. I am curious with the idea of this being a "budgeting experiment". I don't know the ages of the kids. Are they able to get themselves to DD on their own or are they dependent on you for transportation? If dependent, what is the norm for visits? Do you usually purchase items for them? If so, how much do you dictate what they get? Will they get the "norm" and use their cards for extra? If not, will they be under the assumption you will start paying again once they use the card? If they are able to get there on their own, do they go with friends? Would it be a budgeting failure if they use it all the first visit getting more to share with friends, knowing that they will be treated down the road? I think giving the gift cards is nice. I don't understand it as a budgeting experiment.
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giramomma
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Post by giramomma on Dec 28, 2015 20:49:31 GMT -5
I agree except how does it work with a family? Do you keep the kids' cards to use for them? Do you give them to your husband when he takes them? What if he forgets to return them and the kids want to get doughnuts? Does each kid ring up his/her order separately if all of you go out together? What if someone only has 1.00 toward a doughnut and the doughnut costs $1.25? No doughnut? Subsidized doughnut?
It's a good idea in theory, but the logistics of everyone having their own giftcard to the same place with some of them really young would drive me crazy. I guess I don't see the issues...my kids are given wallets at age 4, give or take.. Gift cards go in the wallets. IMVHO, it's not too much to expect them to mind a couple of things..And, the first couple of times they can't find their wallet when they want to go shopping, well, that teaches them to keep track of their things. I've taken the kids to ToysRUs at the same time. They are free to buy something, or not. Just because my oldest has a hole burning in his pocket doesn't mean my middle kid wants to spend money. She actually saves her money and is more willing to buy one big thing, rather than a bunch of small items like my DS. I don't see going to DD any differently. What's the likelihood all three kids are going to be hungry for the exact same thing at the exact time? And then add in an adult? If that were my family, I can tell you the chances of this happening would nearly be 0. And, if there's not enough money, well, no donut, right? Isn't that how things work? It's a good opportunity to encourage a little brainstorming and problem solving. I am still surprised at how proud my kids are with themselves when they come with their own solutions to solve problems.
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giramomma
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Post by giramomma on Dec 28, 2015 20:58:15 GMT -5
I think giving the gift cards is nice. I don't understand it as a budgeting experiment. My oldest would be given $10 and want to go out.that.minute. and spend like half of it. Because he has little self-control and money burns a hole in his pocket. After two trips, he'd be done, no? His choice. My middle child..she's fine with hanging on to her money. I could see her getting overwhelmed with choices and not being able to make a decision. If the donut choices don't appeal to her, she won't purchase them. I could see her money stretching further. Her choice. I'm not sure what the peanut would do, actually. She would want to touch every single donut before she picked one out, so therefore she wouldn't even be able to stay in Dunkin Donuts for more than 22 seconds. I'm not sure we'd actually get to the purchasing donut part. So, hey, she might be hanging on to the GC the longest. Also, her choice. I think the budgeting experiment is to give the kids a nice, small safe environment to about the consequences about their choices and behaviors...Plus, they get to learn not only from their own experience but watching the decisions their siblings are making. DS is fully aware that DD1 is way more of a saver than he is...
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billisonboard
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Post by billisonboard on Dec 28, 2015 21:07:21 GMT -5
... I could see her money stretching further. ... While she might have her money longer, it would not stretch further (unless DD pays interest on their gift cards). In fact if there is a price increase, it would not go as far when she finally spends it. Just saying.
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billisonboard
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Post by billisonboard on Dec 28, 2015 21:10:22 GMT -5
I think giving the gift cards is nice. I don't understand it as a budgeting experiment. My oldest would be given $10 and want to go out.that.minute. and spend like half of it. Because he has little self-control and money burns a hole in his pocket. After two trips, he'd be done, no? His choice. My middle child..she's fine with hanging on to her money. I could see her getting overwhelmed with choices and not being able to make a decision. If the donut choices don't appeal to her, she won't purchase them. I could see her money stretching further. Her choice. I'm not sure what the peanut would do, actually. She would want to touch every single donut before she picked one out, so therefore she wouldn't even be able to stay in Dunkin Donuts for more than 22 seconds. I'm not sure we'd actually get to the purchasing donut part. So, hey, she might be hanging on to the GC the longest. Also, her choice. I think the budgeting experiment is to give the kids a nice, small safe environment to about the consequences about their choices and behaviors...Plus, they get to learn not only from their own experience but watching the decisions their siblings are making. DS is fully aware that DD1 is way more of a saver than he is... I get this. But is this budgeting?
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whoisjohngalt
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Post by whoisjohngalt on Dec 28, 2015 21:12:01 GMT -5
I agree except how does it work with a family? Do you keep the kids' cards to use for them? Do you give them to your husband when he takes them? What if he forgets to return them and the kids want to get doughnuts? Does each kid ring up his/her order separately if all of you go out together? What if someone only has 1.00 toward a doughnut and the doughnut costs $1.25? No doughnut? Subsidized doughnut?
It's a good idea in theory, but the logistics of everyone having their own giftcard to the same place with some of them really young would drive me crazy. nah, things like that don't drive me crazy.
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whoisjohngalt
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Post by whoisjohngalt on Dec 28, 2015 21:19:48 GMT -5
OK, so I don't think it will get that complicated.
We have 10000 DDs all around us. We pass two on the way to their swimming and another on the way to the library, and another one on the way to grocery store.
I usually get them the stuff they want, I am not too strict about it.
Yes, they are little, but they seem to do OK with stretching out their candy and such. Another thing I've noticed that if one of them eats the stuff first, a lot of times another one would share with the kid who has nothing left.
I don't mind taking them and neither will my husband. I will most likely hold on to the card for the youngest as he is only 4, but the 5 yr old and the 7 yr old can handle it.
And if they loose it - well.....there is a good chance that my husband will find it and they will NEVER see it again. Cause he loooves DD.
ETA: to answer question - I don't dictate what they get. And yes, they are always welcome to share their stuff with friends or give it away.
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Happy prose
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Post by Happy prose on Dec 28, 2015 21:33:26 GMT -5
Get them. I am a DD addict. You can register the cards on line, and get promotions. In my area right now, if Jets or Giants win, you get med hot/iced coffee for $.25. If you want to control the cards, get the DD app on your phone. Your registered cards will be in your app and you can pay with your phone. Happy New Year!
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alabamagal
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Post by alabamagal on Dec 28, 2015 21:44:09 GMT -5
I think it is a good idea it will give you insight into their spending personalities.
I have one boy who is spender and one who is saver. One time they each got $10 cash for doing chores and we went to the gas station that had ice cream store. Younger son (spender) ran in to get ice cream. Older one didn't want to spend he just sat in the car, I asked if he really wanted to sit and watch his brother eat ice cream. I learned I had to encourage one kid to save and encourage the other to spend.
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Tiny
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Post by Tiny on Dec 28, 2015 21:45:35 GMT -5
My oldest would be given $10 and want to go out.that.minute. and spend like half of it. Because he has little self-control and money burns a hole in his pocket. After two trips, he'd be done, no? His choice. My middle child..she's fine with hanging on to her money. I could see her getting overwhelmed with choices and not being able to make a decision. If the donut choices don't appeal to her, she won't purchase them. I could see her money stretching further. Her choice. I'm not sure what the peanut would do, actually. She would want to touch every single donut before she picked one out, so therefore she wouldn't even be able to stay in Dunkin Donuts for more than 22 seconds. I'm not sure we'd actually get to the purchasing donut part. So, hey, she might be hanging on to the GC the longest. Also, her choice. I think the budgeting experiment is to give the kids a nice, small safe environment to about the consequences about their choices and behaviors...Plus, they get to learn not only from their own experience but watching the decisions their siblings are making. DS is fully aware that DD1 is way more of a saver than he is... I get this. But is this budgeting? It might be... If going to Dunkin Donuts is a routine of some sort and if the cards are given with the reminder that the card should last for 4 visits and that once the money is gone it's gone - they will have to do with out - then, yeah, it can be a lesson in budgeting and a bunch of other life skills kind of stuff. And it's learning in an environment that isn't totally going to scar them for life if they don't like the outcome of the lesson.
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Deleted
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Post by Deleted on Dec 28, 2015 22:04:51 GMT -5
It definitely makes it easier if you can keep up with the different gift cards with a phone App. But I just can't see telling a four-year-old that he/she can't have a doughnut because they are short. Or letting a four-year-old have two doughnuts just because . . . If you handle it any other way, the budgeting lesson is lost. But the kids are four- and five-years-old. But that's just me, and you can tell that I obviously overthink stuff. . Let us know how it turns out.
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whoisjohngalt
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Post by whoisjohngalt on Dec 28, 2015 22:12:21 GMT -5
Well, it's really not my goal to teach a 4 yr old to budget. I don't have Ipone, no apps for me But they will get receipts that show left over balance and they do have wallets.
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wvugurl26
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Post by wvugurl26 on Dec 28, 2015 22:17:44 GMT -5
The free thing doesn't work so well when you are used to the Ravens losing this season so you pay for your coffee before you remember the Ravens beat the Steelers yesterday therefore the coffee is free. $0.25 would be good too but it's free in Baltimore. That'll teach me to check the perks section before clicking on the pay section.
I like the idea. I used to send my cousins $15 Sonic's gift cards. They loved to stop there after church on Sunday and their parents couldn't afford to do it every Sunday at the time.
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whoisjohngalt
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Post by whoisjohngalt on Dec 28, 2015 22:23:09 GMT -5
There is a restaurant here that would feed kids for free when Red Sox (that's the Boston team, right?) won. Last year my kids ate for free a lot!!
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wvugurl26
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Post by wvugurl26 on Dec 28, 2015 22:26:34 GMT -5
Papa John's does 50% off when the pro teams win around here. The Wizards appear to be doing well this season. I get sick of pizza when one of the teams is doing really well. It's such a good deal when I'm too tired or busy to cook.
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whoisjohngalt
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Post by whoisjohngalt on Dec 28, 2015 23:15:45 GMT -5
Well, you should make your future husband cook for you
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billisonboard
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Post by billisonboard on Dec 28, 2015 23:52:57 GMT -5
I get this. But is this budgeting? It might be... If going to Dunkin Donuts is a routine of some sort and if the cards are given with the reminder that the card should last for 4 visits and that once the money is gone it's gone - they will have to do with out - then, yeah, it can be a lesson in budgeting and a bunch of other life skills kind of stuff. And it's learning in an environment that isn't totally going to scar them for life if they don't like the outcome of the lesson. Yes, an entirely different set-up than that discussed in the posting I responded to (and the OP for that matter) would result in an entirely different result.
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