If I were a rich man

Yet another item in the long list of things that keeps me up at night is the issue of allowance. On the one hand, I want my kids to have some money so they learn about saving, earning, and opportunity cost. On the other hand, I don’t want to give them money just because. Dave Ramsey talks about giving kids a “commission” instead of an allowance but for that, you either have to have money motivated kids (to avoid the “I refuse to take out the recycling, I don’t care if I get my allowance” trap) OR enough chores that you can think of for them to have a list of paid jobs on top of unpaid jobs. In my perfect world, I am very creative and have enough time to dream up AND manage but in my real world, I don’t. All this is to say, I’ve been giving the kids 0.75 a week for doing their chores happily (or at least silently). Of that $0.75, $0.25 each goes into spending, saving, and giving.

In any case, the kids love to spend their money at secondhand stores and the other day offered a great opportunity to do this. After much consideration, Bug picked out a retro-looking X-wing fighter and Bear picked out six Little Golden Books (Barbie ones, but it was her money so I stayed quiet). Bear was especially proud because they were buy two, get one free so she felt the sweet satisfaction of a deal.

And then they spent the better part of the afternoon with their purchases, each proud of their keen bargain hunting skills and joy of spending hard earned (and saved) money. I tried to capture a little of that, but then I stopped to play.





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