Imogen got a $3 raise in her allowance. Allison needs to prove that she can feed the cat and clean her room without being reminded and then she, too, will get a raise in her allowance. Matthew got an allowance for the first time. I couldn’t be giddier. Getting money into the hands of kids on a regular basis is the best way to teach them how to manage their money. An allowance, because it’s consistent, does this. And when…
Ryan’s been bugging me for years if he could sell stuff on eBay. I’ve always given him permission but he needs my help to get him started and we never got around to doing it. So last week, when he asked me yet again, I decided it was time I put down whatever I was doing and help him out. He’s made $61 in the past week selling two items. Subtract the shipping and listing costs and he’s still up…
Ryan and two of his friends were hanging out the other night. Earlier in the day before either friend came over, Ryan had been MySpacing one of them about buying baseball cards on ebay. His friend had bought a Willie Mays card several months ago as an investment. According to him, it has already increased in value. That’s when Ryan’s little ears perked up. Ryan is all about investments. He knows he has time on his side and he’s willing…
“What else are you supposed to do with it?” was the answer I got when I asked one of the kids in my math camp why he spent all his money. Matthew earns a weekly allowance for doing his chores. He loves video games and spends most of his money on those. He’s not a big saver. In fact, he’s not a saver at all. Apparently he didn’t even know he could save his money. Matthew is 9 years…
Here’s something creative. My brother was sharing with me the way two families he knows handled their want of a dog and the recurring expenses that comes with it. They share the dog. One family gets to play and bond with Fido one week, and the next week, family number two gets the pleasure. Food and toys are each individual family’s responsibility; expenses for medical needs are shared. This is a first for me. It actually never occurred to me that…