Kids, Souvenirs and Spare Change

If you have kids, you’ve been through it. If you don’t have kids, you more than likely have witnessed it. The “I wan’…I wan’…I wan’” hysteria while on vacation. The tantrums, yelling and crying while at the souvenir shop. After going through it with our first child, my wife and I vowed not to go through it again. How many key chains, globes, light up “things” whose batteries never last, and other souvenirs/garbage does a kid need?

So this is how we took care of it. Virtually every person and family has a place for their loose change. Be it a cup, a jar, a coffee can, a bowl, an old water jug, piggy bank, or something else. We decided to have one collection piece. It happens to be a cartoon character bank (no not a souvenir). Our two kids, as well as my wife and I, contribute our spare change. Hey, it adds up over time.

The week prior to vacation, we roll up the coins. Whatever does not fit in a roll gets put back for the next trip. The proceeds are split evenly between the kids. It usually ranges from $40 to $75 each. Whatever other money they saved, plus the bank money, is theirs to spend. They know not to ask us for any additional money or souvenirs from us. They can buy whatever they want, but when the money runs out, that’s it.

This method provides two big benefits. First and foremost, it teaches a valuable lesson about money management to the children. The kids start to ask themselves, do I really want it? Is it something of value to me? Do I really need another one of those...? Second, it provides peace for the adults. No tantrums, no yelling, no crying. The added bonus it the pride they have when paying for something out of their own wallet or purse.

If there is money left over after the trip, it is theirs to spend as they like. Though this is not the total solution for buying souvenirs and vacation garbage, it does cut down on the amount of items that find their way to the bottom of a closet or toy bin.

This has provided us with over 10 years worth of peaceful vacations. Our kids are older now and we continue contributing to the family bank.


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