In my family, my older brother, my younger sister, and I all did the exact same thing with our first paycheck. We signed it over and gave it to our mom and dad. We did this not because they needed the money. In fact, the actual amount of our first paychecks was relatively insignificant to them.
But giving our first paycheck to them was a small gesture and show of appreciation for everything they did for us up to that point in our lives. And not just for the things they did that are related to money, but for so many things that you can’t put a price on.
In the grand scheme of things, the amount of our first paychecks is what’s called “a drop in the bucket.” It wasn’t about money. It was about our love and respect for them.