Friday, July 25, 2014

Good money habits for kids

My daughter is not a kid--and she has bad money habits. She spends it. I am sure, like everything else about her, this is all my fault.

So I read a piece in the WSJ by Anne Marie Chaker (July 10, 2014) with interest and some remorse.

In the story, the parents give their two kids 14 and 11 ten bucks a month allowance. In exchange they did chores.

But this--as radically organized as it was--was not enough. So now the kids get $20 bucks at the end of the month and have more chores and must save ten bucks. They also must save half of the money they earn around the neighborhood. They walk pets, babysit, mow lawns.

Mow lawns--you can't find a kid out here in AZ to mow a lawn if you paid a hundred bucks.

Well, the little capitalists have amassed tidy little nest eggs--the girl is saving for a trip to Switzerland.

Maybe she can open a secret account, if they still have those. Her mom has enrolled her in financial boot camp, after all.

I am not saying this is bad. It is just so creepily atypical.

When I was a kid we got 25 cents a week and bought candy. Yummm, rootbeer barrels.


MerryCarol said...

This made me chuckle and brought back memories.

Atypical? Not so sure. Times have changed.

I spent my 25 cents on candy too. I would stand in front of the counter intensely calculating how to make the most out of my purchase. Then as my friends and I walked home (a mile... sans adults!), we would analyze who ended up with the best candy stash. Often trades were made.

That was a long time ago in a land far, far away.

We have a "new" old time candy store here in our little town now. Funny the emotions that store stirs up in me. But now I need $10 bucks to walk away with a satisfying selection. And my friends aren't interested in making trades :-)

Star Lawrence said...

We have a store in Chandler, too--very high shelves like Costco. Who can find candy like that? It's kind of dim, too--not as fun as the Woolworth's counter--with those orange slices, weird spongy peanuts that tasted like bananas, those sharp little tins of goo, Lick-A-Made--or however it was spelled...Luden's medicinal cough drops. I am geezing big time!

Star Lawrence said...

The neatest part was our mother loved cheap candy, too--we never had to beg--she would head right for it. Those little white bags, the old lady behind the counter waiting for our selections. Oh, man. When Mom got older and had to go into care, we brought her Almond Joys and Hershey bars--her face would light up.

Star Lawrence said...

By the way, I have many French readers--any candy memories?

MerryCarol said...

More geezing candy memories... Those little licorice wheels with the tiny candy center. They still make those today, but without the candy center. And those little candy dots on paper strips. Never could eat them without ingesting a good share of the paper. If we got a little extra candy money (usually after some whining and begging -- our mother was not so willing as yours, I would splurge on wax candy lips. Of course the purchase required that you prance around acting goofy with the lips before chewing them up. Ha! And then the flavor only lasted a minute before all you had left was a tasteless wad of wax in your mouth. Which explains why they were an extravagance.