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Christi Diggs
on May 23 2013 - 06:00 AM
A drop of spin, a cup of deception and tsp. politics=Apathy
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Lindsay Metcalf
on May 22 2013 - 06:00 AM
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mara williams
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Our seven-year-old has decided that it’s time she started collecting an allowance. Yes, she has decided, and she wants five bucks a week. I explained to her that it’s not her decision, but I’m open to discussion.
She’s presented her arguments about why this is an awesome idea, and she’s gone out of her way to be extra helpful with chores this week to show that she plans to earn her allowance. Let’s hope that keeps up.
Either way, her mom and I have decided that this is a good opportunity for a lesson in money management. If only I (or my wife) were better financial advisors. We have a hard enough time trying to manage our own finances, now we’re on the spot to explain the concept to a kid.
We found some help at our neighborhood library – there are some really appropriate, kid-friendly books about allowances and saving money. She read the books and accepted most of what they had to say, except for the part that suggests setting aside a percentage of her allowance to donate to charity. We’d like to instill in her the habit of giving away a portion of her wealth, but she’s digging in her heals.
“Why should I give part of my money away, when I’m saving for an American Girl doll?” Remember, this is the girl who wants to open a soup kitchen in our front yard to feed the homeless, but doesn’t want to donate 50 cents a week to people who need it.
Never stand between a girl and her doll.
I tried to explain the concept of doing things for the common good, but that only seemed to irritate her. So, I tried to explain the idea of karma and the notion that everything we have is a gift, and we really don’t “own” anything. She’s not buying it.
To further build on the finance theme, we took a trip to The Money Museum at the Federal Reserve Bank – a very cool place, by the way. The girls really enjoyed the interactive exhibits, and they got to take home a bag of shredded money. Whether or not they learned anything, it sparked some good discussions about saving and the value of money.
Then to round out our money/civics lesson field trip, we had a cool experience. After leaving the Fed, we walked across the street to where the local Occupy movement had set up camp in Penn Valley Park. It was pretty quiet that day, but we managed to find Mike, who presented himself as the camp manager-on-duty and spokesperson for the day. He gave his own take on money and wealth and told Lyda that he and the others were there to ensure that all citizens would continue to have a right to assemble, to speak freely, and to vote in fair elections. She thought the whole thing was pretty interesting -- unusual, but interesting.
So, Lyda came around and has agreed to set up three jars in her room. When she gets her five dollars each week, she’ll put 50 cents in one jar to donate; she’ll put three dollars in another to save for her doll; and she’ll put the remaining buck-fifty in the last jar to use for other things she might want.
Now, if only I can learn to budget and save like that, the lesson will be complete.
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