Read about The $100 Allowance, Part I here.
Sweetest words a mother could hear: “Mom, can I ask for underwear for my birthday?” I chuckled, but she replied earnestly, “I’m not joking!” And she truly meant it.
A year prior, when she entered eighth grade, my 13-year-old daughter proposed a bold idea: she wanted a one-time allowance of $100 for the entire school year. With this supposed fortune, she insisted she wouldn’t need a single extra cent for anything. She even drafted the contract herself, and after a series of discussions, both parents and daughter signed.
She felt wealthy for a mere eight weeks, then faced a financial drought for the next eight months. However, those months of scarcity turned out to be quite enlightening.
Here’s what she discovered:
- The Hustle: My daughter quickly embraced the world of work. She became enthusiastic about babysitting and eagerly sought out every opportunity.
- Creativity: Instead of expensive outings, she and her friends opted for free activities. During the holidays, she crafted gifts or bought second-hand items, which were just as cherished by the recipients.
- Frugality: She declined to purchase a yearbook due to its cost, and during sports trips, she chose home-cooked meals over fast food. She even considered skipping the eighth-grade trip to New York City to save her money. Ultimately, she babysat with me, and while we both earned the trip, only she enjoyed two days on a bus with 26 classmates. In the end, her limited spending meant no junk food or cheap souvenirs, which was somewhat of a win-win. However, the memories made were priceless.
- Independence: Thrilled to manage her finances, my daughter exuded newfound confidence. Working hard for her trip to New York, she requested I leave at times so she could “be in charge” and “earn her own trip.” I admired her initiative.
- Gratitude: The shift was immediate. Whenever I bought her something—even a simple can of her favorite soup—her joy was palpable. For Christmas, she sought running shoes and tall brown boots. Previously, I would have bought these without a second thought, but now, her ownership of the responsibility made her delightfully happy on Christmas morning.
- Peace: Our arguments over clothing vanished. At the mall, she no longer begged for that trendy dress or the perfect earrings. Occasionally, she would hint that I would look “really good” in a top she could inherit, but the pleading and disappointment were gone. Shopping became a pleasurable experience. Sometimes she still tries to test my resolve, saying, “Please, Mommy, I’ll pay you back!” It’s tough to resist, but my husband often reminds me to “stay strong.”
- The Budgeting Pro: “Pro” might be a stretch, but she does maintain a ledger. She tracks her income and expenses by hand: 10% for charity, 20% for college savings, and 70% for her personal spending. For further guidance, www.themint.org can assist kids and parents in managing their finances.
When my daughter transitioned to high school, her allowance increased. Even with the larger sum, we still assisted with necessary expenses like an iPad and sports fees. Occasionally, we cover half of team sweatshirts. Yet, there’s a noticeable increase in gratitude and peace. Now, when she needs something, she asks rather than demands.
The lovely dress and shoes she bought for a semi-formal wiped out her savings, but she deemed it worth it—and that’s what truly counts. She made a thoughtful decision about her purchase.
This weekend, she’s babysitting after a busy week of school and sports, and she’s already lined up a summer job to replenish her funds. Sometimes I worry she’s taking on too much responsibility for a 14-year-old. Shouldn’t she be lounging around, sleeping in, or attending summer camps? But then again, maybe this is just a strange worry of an American mother.
Our family dynamics are far from perfect; routines often change or get tossed aside. However, the $100 allowance thrived because my daughter initiated it and was fully committed.
P.S. Yes, she did receive that underwear for her birthday, and she was genuinely pleased.
In summary, my daughter’s experience with a fixed allowance has taught her invaluable life lessons about responsibility, creativity, and gratitude. While navigating the complexities of growing up, she has learned to manage her finances and make thoughtful decisions about her spending.
Keyphrase: $100 allowance
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