Love this, starting the kids on great values and helping others!
“Alright, kiddos, we’re changing the structure of your allowances.” I leaned forward on the couch with my elbows on my knees. My hands were clasped, and I opened them to say, “You get a raise with the new year” – our children bounced and clapped their hands – “BUT with the condition that you put a portion away for long term savings, and you put a portion aside for charity.”
My husband and I discussed the kid’s allowance for weeks as we worked on our own budget. After ten years of supporting a family of four on one income (an income which consisted of student loans, part time graduate teaching assistantships, and when we hit the big time, a post-doctoral stipend), we are behind on savings: retirement savings, college savings, orthodontic savings. Emergency savings for car repairs and those surprise bills that always seem to…
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