At what age can you confidently give your child lump sum like $1k and expect him or her to manage it well?

[Min George]

The capacity for person not to be overwhelmed with a huge sum of money handed to him or her is directly proportional to the mental maturity of the person.

At what age do you think a person can be handed $1k and the person would manage it properly and not get overwhelmed?

 

[eLdavis]

Personally i don't think it's by age, there are people older than 18 years who would misuse this amount of money, and there are some younger than this who would put it to better use. It depends on how matured they are mentally and emotionally.

 

[Kross]

I would start by giving that child small amounts of money and he or she grows gradually with money management to be able to manage larger sums.

 

[freelancermaria]

It really depends on my child’s maturity. If he or she can handle money well, then I will give $1000. I will encourage him or her to save it in a bank account.

 

[King Belieal]

I would always give a child of 18 years a trial with lump sum and see what they would make of it and if they are ready for financial maturity.

 

[Augusta]

I don't think it is about the age but more of the maturity. Some adults still squandered money but for a start let the child be 20

 

[bestwriter]

Unless I know if the child is capable of handling money sensibly I will not hand over any money and that one can see the way the child behaves when it comes to even demanding what one cannot afford to give.

 

[Starmix]

In case, I have a child, I have to ask her first about her interest in business or investment. If her answer is No, I will not give her @$1000 . She might only spend the money bonding with her friends.

 

[Augusta]

Unless I know if the child is capable of handling money sensibly I will not hand over any money and that one can see the way the child behaves when it comes to even demanding what one cannot afford to give.

That's right no need throwing away your money if you know that the child can't handle the money at whatever age then it save to keep such amount away from the child

 

[Suba]

Each child will have different talents and skills also formed from experience, if a 17-year-old child has experience in trading and has a prominent talent, maybe $1k is not enough to run his business.

 

[Fidelia]

I wouldn't give my child money at age 18 or 20, it's not about the age. It is when I ask my child what he or she would do with the money and he or she gives me a reasonable analysis, only then can I release such huge amount of money.