You’re growing up! And as you do, your parents will give you more and more chances to choose what you want to eat, to wear and to buy.
Because Allowances: Dollars and Sense is about learning good financial skills, I want to give you some tips for spending and earning money.
Here are a few ideas to help you make good choices:
- When your parents give you an allowance, stop and think about what you want to do with it. Put some of the money in your piggybank or savings account. Give some to your favorite charity or place of worship. And finally, have fun spending some!
- Dream some big dreams. Imagine what you would like to buy, and then make a plan for saving enough money to buy it. You might need to do some odd jobs to help you earn more. Maybe you could collect empty pop cans or offer to look after your little brother. Ask your parents to help you make your plan.
- Find out more about the thing you want. For example, if you want to buy a bicycle, look at the flyers and catalogues that come in the mail to see what different bikes cost. Ask your parents to help you figure out how much you can afford. Then look at the options available: does it have 10 speeds, a kickstand, or other features you want? Go to the Bike store and compare different models. Take them for a test run!
Learning to manage your money is fun! With a little bit of help from your family, soon you’ll be making wise decisions every time you spend (or save!)
Have fun using your Dollars — with Sense!