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One thing I hated growing up was that my parents took all the money I made doing after school activities and only gave it to me when they thought I needed it for something.

Looking back, I know they did the right thing because I would have spent it on baseball cards, candy or toys.

By taking the money from me, they held me in check. The best part about them holding my money was when it was time to go school shopping. I was always excited to spend my own money.

I know if they didn't hold on to the money, then I wouldn't have enough to buy some of the extra things I liked.

For example, my parents didn't believe in paying for a Spider-Man folder when a regular blank folder did just fine but if I had my own money they couldn't say no.

But as a kid, I hated having to give my money to my parents. The first time they took it, I thought they were never going to give it back. Of course they did but I was paranoid as hell with my hard earned money.

This is something I could see me doing with my future kids because it's effective.

It's a great way to teach kids how to save money for things they really want.

Did you parents ever hold onto your money when you were a child? What about giving you a coin jar or piggy bank?