Allowance

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A few months ago, Paul and I decided to give our school aged kids an allowance. We thought this would be a good tool to teach them a thing or two about money: saving, spending wisely, giving, and as a bonus, we hoped it would cut down on the gimme gimmes at the store. The amount? One dollar per year of age each month.

They blew October’s money on pumpkins. November’s money went to fixing a window they broke. December’s to Christmas. So today Andy and Kate have January’s money and February’s burning a hole in their little pockets. What to do? What to buy?

Last night, Andy told me he wanted to be a benevolent big brother and buy something for Luke, since he is not old enough to get an allowance. How nice. Could there be a catch?

He wanted to buy Luke more Star Wars Galactic Heroes-his favorite. (Andy likes them too.) After all, he is missing a few. They asked me to go online and give them some price points. If he bought them, there would be nothing left over. When Andy learned they were a bit more expensive than he thought, his sense of generosity turned into shrewd negotiations.

“I’ll buy them for you, but I get to keep them in my room and play with them whenever I want.”

Luke may be three, but he is no push-over. They both shouted and Luke cried, but they finally agreed on which galactic heroes they could stand to share. Then this morning on the way to school, I overheard Andy trying to finagle Kate out of her allowance so they could purchase even more galactic heroes.

“Come on, Kate. Do it for Luke. He doesn’t even get an allowance,” he laid on thick.

She wouldn’t budge.

“You only have to contribute money towards the girl galactic heroes. Don’t you want Padme?” Nice move.

She waivered…

“Okay! I’ll give you one dollar.”

It wasn’t as much as he was hoping for, but he’ll have to be satisfied. For now. He knows there is nothing specific Kate is saving up for. So in his mind, her money is up for grabs.

I think when Kate comes home from half day kindergarten today, she and I will skip off to Target and splurge on something she wants.

Like that blue scarf I saw there on sale last week….

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2 responses »

  1. reminds me of how my sister generously told my parents she would do the christmas shopping for me. i got a load full of clothes in her size!!!!

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