I posted a while back about my two year old having an opportunity to audition for a commercial. Well, he did really well in the first audition and got a call back. The second time...was just before nap time, and he was having none of it! Oh well! However, they asked my older son to come to the callback audition for a possible spot as an extra in one shot. He did great, and he actually got a slightly larger part! I was skeptical about doing the auditions in the first place, but my five year old really seemed to enjoy "playing pretend." And seriously, what mom doesn't like hearing that their kid is funny and adorable?
So the question portion. My son will get paid for the commercial. I am definitely going to put the money in his college fund. But I thought that I would maybe give him some portion of it, perhaps $30-40, to spend on whatever he wants. He just got a ton of toys for the holidays, but I feel like he should get something fun for his work. What do you think- bank it all, or let him go on a little spending spree with his money? Or maybe I could suggest that he buy a new book for his school or something more noble than a trip to the toy store?
ETA- Thanks for the input and ideas so far! The commercial is for an ice cream company. I am hoping for some ice cream benefits :)
I would agree with the others who said do something fun with some of the money. Perhaps the zoo, an aquarium, a children's museum, or a fun day out with mom or dad to lunch and the movies.
He's 5. Take him out for ice cream afterward, and he will be happy! Bank the money in his college account.
Maybe use the money for an activity instead of a toy - a movie, trip to the zoo, etc.? My youngest son has a January birthday so our family usually ends up giving him money to spend as he wishes. Sometimes he saves it to use later. This year he asked to use some money to go to an indoor water park and some to buy a particular hat that he wants (he's 7 but very style-conscious).
What a fun task to have! What's the commercial for?
I wouldn't do it, mom. He had fun doing it. That was his pay. You never know when he's going to expect you to buy him toys because you asked him to do a chore in the house. Besides, when you DO start paying him an allowance, it won't be NEARLY enough to buy $30 worth of toys.
It's a bad precedent to set right now. If he becomes another Mikey on the Life Cereal commercial, the lawyers will help you set up a fund for your son. At that point, you would have to.
Dawn
Let him have a little bit of money, but maybe wait a couple of months before you go spend it, when the excitement of the holidays have worn off. A trip to the bookstore is a lot of fun for kids and can be very special if you don't want to buy toys... though these days, Barnes and Noble has a huge toy section.
Honestly, you might want to double check the laws regarding child actors and how they are paid, I know there are some strict laws in CA, no clue about anywhere else though. In addition, I WOULD allow him to have an immediate reward, maybe 5% of his payment.
I think allowing him a small portion of his money so he sees the reward for his work is a good idea.
definitely let him have a little mad money.
congrats!
:) khairete
S.
Kind of a tangent, but perhaps get the book "Three Cups" for your 5-yr old. It's a nice little book about spending, saving, and charity. We set up the 3 cups for our kids and they really enjoy separating their money and seeing how it all works.
Congrats to your son!
Bank the money and then give him $10 to spend. He should be rewarded, but he doesn't need $30 right after Christmas!
my kids started getting an allowance at 5 years old.
They put a portion in savings, donate and keep some. They are learning how to deal with money.
I would give him a smaller portion and put the rest away. Make sure all the taxes have come out so you don't get a surprise!!
CONGRATS!! I bet this is fun!!!
I am glad it worked out and it sounds like you have a good head on your shoulders as far as what to do with the money and what to do if they lose interest.
Congratulations!!
Congrats! How fun! Sock away the money for him! He doesn't need spending money at his age.
you will probably have to have a coogan account set up. also does he have his work permit? you will need this on had on the day if the shoot. i believe that the parent gets a small portion of what they make (after the agency hes with and such get their cut). i would bank it. the percentage you get you can use for what he wants etc.
If you give him money, you are teaching him to do things for money. Just put the money in the college fund. If he enjoyed it, let the internal reward be the reward.
Our daughter was in a Microsoft commercial when she was 4, and we went out for ice cream afterward and banked the rest :)
