Many parents dream of their kids being able to one day become self-sufficient and financially independent. But what happens when your kid starts making a ton of money before they’re a legal adult?
One man’s teenage daughter recently started making a lot of money after getting brand deals as an influencer, and he’s been insistent on not giving her full access to that money until she turns 18.
He’s 48 and has a 15-year-old daughter who has a large social media following.
A while ago, his daughter started getting approached by brands to promote their products through brand deals.
“I don’t know the first thing about this digital influencer culture, but I like that she’s happy creating her content,” he said.
“We went through a family tragedy when my first wife passed away 3 years ago, and I believe the dedication to her channels had a major positive impact on my daughter in a difficult time in her life. Whenever a company approaches her, I help the best way I can, going over the terms and conditions of contracts and so on.”
He was shocked to see just how much money his daughter was making from these brand deals and quickly decided he should put the money in a separate account and put it away until she turned 18 and was more financially responsible.
In the meantime, he told his daughter she could rely on an allowance he’ll give her, just like his other two kids who work more typical teenage jobs, like babysitting and working at a fast food restaurant.
“She was fine with this at first, but lately, she started asking me for more of her money,” he explained.