Q: Asa: Can a child transact as in buy and sell things and does a child have to give away his or her eid money to a parent that asks for it and uses it up and the child is left with nothing. Child here is below maturity.
A. In principle, maturity (reaching the age of buloogh) is not a condition for a transaction to be valid. The essential condition is having an understanding of what the transaction entails in order for it to be valid. Therefore, if a child understands what they are dealing with and is aware that their mother or father has a need for the money, then a child giving it is not a problem.
However, if the child cannot negotiate or does not understand what is happening with their money, the parent cannot take such money. Nonetheless, if the child’s money is needed for the child necessary living due to parents undergoing poverty, this would be allowed.
Allah Certainly Knows Best.
P.s. Best to invest a child’s money, not spend it, unless it is to benefit the child.