We started giving Lauren an allowance several weeks ago. She has a chore list, and earns 25 cents per completed chore, with the potential of earning just over $10 per week. A far cry from the dollar I earned at age 6.
Of the $10, a dollar goes to the charity of her choice. This week, it is going to UNiCEF. Last week, she put it in her offering envelope for church. She has also put money into the school food drive for our district's needy families for their Thanksgiving dinner.
Half goes into her Orange Savings account, which is earning a paltry 3% interest these days.
The other half, she can spend as she chooses, this week she bought a bag of candy corn (kandy korn?) and a Littlest Pet Shop toy.
This conversation ensued about her spending money...
"Mom, can I really spend my money on whatever I want?"
"Sure. You can buy a box of Fruit Loops (not a cereal we usually get) or a candy bar if you want. Or save it up a few weeks and buy a DS game...whatever you want..."
"Yep. The only two things you can't buy with it are cigarettes and beer."
"Because cigarettes are very bad for you..."
"Yes, I know that..."
"And the State of New Jersey says you are too young to drink beer."
"Yes. But you said I get to spend my savings money when I am in college."
"Yep. You can use it to help you buy a car, or maybe pay for stuff you need at school..."
"Well, then I will use it to buy beer."
Yes, I guess you will.