Dave Says

Rental Runaround (August 2016)

Do you think having cancer insurance is a good idea? (July 2015)

Setting up the kid's car insurance (February 2015)

Check cashing for the unbanked (September 2014)

Keep the lifestyle simple (May 2014)

Should she have skin in the game? (September 2013)

Time to pay it off! (September 2013)

Making It Through Medical Leave (July 2013)

Should We Ever Buy A House? (January 2013)

Be Tightfisted Until The Crisis Is Over (January 2013)

Paying the parents (December 2012)

Sallie Mae vs. selling the car (December 2012)

What’s the worst that can happen? (December 2012)

Letting them in on the secret (December 2012)

Not ready to combine finances (November 2012)

What The Law Will Allow (August 2012)

Making The Right Choice (August 2012)

Baby comes first! (August 2012)

Get the brother-in-law out! (August 2012)

Trust Broken After Cosigning (April 2012)

Review The Research (April 2012)

The Investing Makes Her Nervous (April 2012)

Lifestyle Changes (April 2012)

Do I Tithe On An Inheritance (March 2012)

No Credit Score, No Mortgage? (March 2012)

Where Do Toys Fit In The Baby Steps? (March 2012)

Guilt and Cynicism (March 2012)

Where Does Debt Go When Filing Bankruptcy? (December 2011)

Where Does The Donation Go (December 2011)

Ready to Buy (December 2011)

Intensity Hurting The Marriage (December 2011)

Hobby Car? (November 2011)

Not Quite Dearly Departed… (November 2011)

Enough For Retirement? (November 2011)

It’s Just Another Gimmick (November 2011)

Will Paying Early Help? (November 2011)

Bargain Master! (November 2011)

Sisters Should Have Asked! (August 2011)

Buy Now Or Wait? (August 2011)

So, He Knows How To Manage Money? (August 2011)

Girlfriend’s Money Problems (August 2011)

Smaller Down Payment? (August 2011)

Why Can’t She Get Another Job? (August 2011)

Landlord Wants Protection (June 2011)

Prepping Kids For Healthy Habits (June 2011)

Switching To Company Debit Cards (June 2011)

Should I Reduce My Tithe? (June 2011)

Closing The Account (February 2011)

Dishonesty Is Not The Best Policy (February 2011)

Piles of Cash? (February 2011)

New Car In A Bad Situation (February 2011)

Drop Coverage? (November 2010)

Can't Pay For Her Wedding (November 2010)

Does Pride Keep Us In Debt? (November 2010)

Not Time For A Reunion (November 2010)

You're Being Hoodwinked! (November 2010)

Buying Used or New? (November 2010)

Is There A Recommended Vacation Percentage? (July 2010)

Don’t Do it for the Gas Mileage (July 2010)

Investing Strategy for Retirement (April 2010)

Insurance? (April 2010)

Triple Play Investing (February 2010)

How Do I Get Started in Real Estate (February 2010)

Published: September 2013
Should she have skin in the game?  

Dear Dave,

My daughter has the opportunity to take a trip with her eighth-grade class. The cost is $650. Do you think she should have to contribute to the cost of the trip, or should I cover it all?

Colleen

Dear Colleen,

This is a really good question. When it came to making these kinds of decisions at our house, we’d take a look at whether the kid was behaving, getting good grades and stuff like that. It can be a challenge at that age, I know. But if they were living like responsible young people, we would pay for this sort of thing as a reward.

Still, at that age a kid should definitely have some skin in game. If you can pay for this without breaking the bank, and she’s fulfilling her responsibilities as a good kid, it would be a good idea to make her come up with her own spending money for the trip. You don’t want her to grow a sense of entitlement, and doing this would force her to work and save a little bit to make this thing happen!

—Dave

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