A tradition passed down from my grandpa, I always give my kids their own spending money when we travel. I started this when my oldest was around 4, and now at 6, he is a savvy travel budgeter. I of course pay for museum entrance fees, meals, and any essentials, but his spending money is specifically for those extras like museum gift shop treasures and treats from street food vendors.
Giving him the choice relieves me from the constant decision-making process. No more endless ‘yes’ or ‘no’ answers. Instead, Xan gets to choose what he wants, within his budget. This autonomy not only makes our travels more enjoyable for both of us but also instills in him a sense of independence.
More importantly, this approach is an easy practical lesson in budgeting. He learns to manage his resources and make choices based on his priorities. For instance, if he opts to spend all his money on the first day, the natural consequence is that he won’t have funds for the rest of the trip. While it’s tempting to step in and bail him out, I’ve learned the importance of letting him experience these consequences. I may remind him that we still have a few days left, but if he still wants to blow it all at the gift shop on day one, I say ok. It’s not always easy to watch, but it’s crucial for his learning and growth.
The real magic happens on subsequent trips as his decision-making evolves. Xan has become a more thoughtful and savvy spender, learning to weigh his options and plan for future desires. This learning process is invaluable and goes beyond just financial literacy. It’s about making choices, dealing with consequences, and understanding the value of things – lessons that are vital for his future.
Giving your kids their own travel money (or having them earn it ahead of your trip!!) is a great way to make your travel adventures just a little more educational while still maintaining fun. It’s more than just about managing finances; it’s a journey of growing up, gaining independence, and learning life skills that will serve them well beyond your travel adventures.
