Q. What do we do with birthday and gift money?

Many families ask what they should do with the birthday and gift money that their children receive.

Should they be splitting it up into all their wallets?

I know as an adult if I receive a $50 gift I will go out and purchase something I want for $50, I do not divide it into all my personal budget areas.  After all the gift giver could have bought that gift and given it to me instead of money but they were wanting me to choose the gift for myself.

When it comes to the CA$HKIDZ program, we have always allowed our kids to place gift money into ANY envelope(s) they want.  My kids typically put a bit in FUN and most into TREASURE but we let them choose.

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