As you get older, you are going to start getting money as a gift. You may actually start to get cash very early from grandparents that don’t want to go to a toy store.
As all the gifts are being unwrapped at your party and things are somewhat chaotic, your parents may also ask to “hold” your money for you so that it does not get lost amid all of the wrapping paper and envelopes. This is sound advice, but you must get a total in writing. If necessary, count the money with a witness present (preferably a licensed notary public) and document the total amount. If you do not, your parents will not remember the total amount later. As a result you will likely be helping to buy groceries and things you don’t even use, like soap.
PRO TIP: Learn your denominations! Granddad may be giving you large bills that your parents might swap out for singles if you are not diligent and attentive.
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