Selling Items

If you think they will sell items you give them, then from now on tell them, I am giving you this but I do not want you to sell it.

If you are referring to things you have already given them and that they have already sold, if you haven't told them not to, then I think you are out of luck.

Anything I buy and give to my kids is theirs to do what they want with it, including selling it in the future. If I'm letting them use something that still belongs to me, I'm clear about that, too. And if I loan them money, I have them sign an agreement with terms for repayment.

If in the future, my kids have plenty and I need money, things will work in reverse. I'll ask them for $ and be clear whether if it's a gift or loan. However, each of my son's has promised me that when they are rich and famous they plan to buy me a: private jet, tropical island and large house to go with it.

We have sold some of our kids' things. We discuss it with them. They are 6 and 10. And we gave them the money for it.
Which after discussion, they put some of their proceeds in the bank, and then kept some for their own spending.
It was fair. For us and them.
Fair for us because then, "we" got rid of some accumulated clutter. And fair for them because we all discussed it, made them a part of the process and they therefore learned from it, and then they got to "earn" money from what they sold. And they also learned money management and the process of buying and selling etc.

I am not sure I understand exactly what you are talking about.

If you are talking about good clothes that are no longer worn, shoes, toys etc and you sell them on Ebay, Craigslist, or just donate them to charity..... then yes, I would agree that you get the benefit of that transaction.

If you are talking about something more valuable...say a coin collection, car, jewelry, etc... then NO..... you should put those funds into an account strictly for your child.

In the meantime, don't rely on things you have given your children be to sold so that you can make ends meet.

If you are not too good with money, then make it your priority to get good with money. Go to the library, take a course, do something productive so that you learn how to be good with money. There are many organizations out there now that can guide you in finances, budgeting, etc that will help you tremendously in the future. You need to learn about money so you are able to properly provide for the children you have and your retirement.

Keep separate accounts for your children and do NOT touch that money for any reason.

Good luck.

I'm confused as to what you are asking here.

Are you saying that you want to sell some of your kids' things because you're broke?

I have sold items consigment, I just used the money to buy them more clothes in bigger sizes.

okay - the way I understand this is you are having tough financial times, correct?

OR are you asking if you sell something of the kids - do THEY get the money back? Guess your question isn't clear.

If it is you are having tough financial times, the kids are teenagers and have items that you can sell that MIGHT bring in some money to help the situation, they should NOT get the money back, as you are trying to keep the roof over their heads, clothes on their back and food in their stomachs.

Cars? Sorry - but you GAVE them the car - it's theirs. If you are sharing the car - then it depends if getting rid of the car will prohibit other revenue from coming in the door - not making it to work, for example.

If it is they are asking you to sell stuff for them - then there should be an equitable split of any proceeds.

I would go through my house and see what collectibles I have that will gain revenue for the household and sell it - via craigslist, ebay, consignment.

I sell my son's clothes on Ebay and use the money to purchase his next year's wardrobe. It would never ever have occurred to me that the money from the clothes would be his. I don't view my providing clothing to my child as a gift - it is a simple obligation of parenting.

My take on it would be that if you gave it to them as a gift, it is then theirs to do with what they will (I'm assuming we're talking about older/out of the home kids). If they're still living with you, you MIGHT be able to argue otherwise, but definitely if they're out of the home and it was a gift, I would say that if they sold whatever it was the money would be theirs.

A gift is a gift...not a loan. If you would use the money back from these items to buy more things for the kids...i.e. sell outgrown clothes to buy new clothes for the kid, then yes that is reasonable. However, if you just want the money back, then you really didn't get them a gift in the first place.

I'm confused as to what you're asking. However, if you're not in a great financial situation as it is, how were you able to buy "clothes, cars," etc. in the first place?

If you gave things to your children as gifts, then I would say NO, you do not get the money if they're selling stuff. If you had that intention then you should have put the stipulation on it that "when finished using such item, I want it back so I can dispose of it" whether it be keeping it and/or selling it.

I get the feeling your children have already sold something and you feel you should have gotten the money!

Good luck!!!

Nancy: good one!! My kids say close to the same thing about "when they're rich!"

If the family needs money, then it is fair game to sell things that have been given to your kids, as long as the money will be used for necessities.

I don't think buying children clothes as giving a gift. That's giving them a necessity. They don't get to keep your house when they get older. Sure, if you give them something specifically AS a present...but most of what I buy for my children does not come at Christmas or birthdays but throughout the year, as I see it on sale, feel like buying it, or as needed.

That being said, I have a huge garage sale EVERY year and get rid of clothes, toys, books, household...everything we no longer use. Each year, that money goes to buy pool passes for the summer, new bathroom rugs and a new shower curtain, and things for our gardens, which are a family project. If there is money left over, I will buy them each something.

Using the money from the sale of their clothes to buy more clothes...eh. I'm going to buy them the clothes anyhow, and I'd rather the whole family benefit together with quality time from the profit, which is what it is. (Minus the bathroom stuff...that's not really family time...lol...but we all USE it, right? And I let them pick, so our bathroom is always fairly childish and eye-sorish, but that's the price of parenting.)

I see from previous posts that you have a 7 (or maybe 8) year old boy. You mention cars, so maybe your have a teen? You also evidently filed for bankruptcy, or are close to it.

I'm sorry your husband hasn't gotten enough of a job to pull you guys out of the hole.

I don't think that you need to worry about giving your younger son money for the stuff you sell. If you have a car in your name for your teen, you are not under an obligation to give your teen the money. One thing that kids need to learn to deal with is the financial reality of unemployment. Insurance, car maintenance, gas, all expensive stuff. Your teen is part of the family and has to make sacrifices too.

Good luck, G..

Dawn