The first time we set up an allowance was when Marina expressed interest in an American Girl doll. I wanted her to understand how expensive it was, so it made sense for her to have to save her own money for it. I figured she would either appreciate it more after saving for months, or she would lose interest in buying one. Win-win situation, as far as I was concerned.
It also taught them about making choices. If you are saving for that special toy, that doesn't mean mom and dad will buy the other toys you fall in love with every time we go out shopping. Unless I want the toy too. And it's on sale. I can't resist a sale.
2 comments:
I loved that Marina was into the historical novels that promote a positive self image for girls, while teaching them history from an everyday female perspective. I think the books helped her reading and love of history. Kudos to American Girl. We also enjoyed visiting the American Girl store here in NYC, seeing the play and eating at the cafe. With Sierra, she likes American Girl but experiences it very differently. One other thing that American Girl teaches young girls, however, is to be consumers. Is that good? Judge for yourself. All I know is that the doll clothes cost more than my own!
Love, Grandma
this is so great, because it's a compromise - letting her buy something you're not crazy about, but making sure she understands exactly what it costs.
a long time ago i set a simple one-week rule (that's what we call it - the one-week rule ;^) -- the boys can buy *whatever* they want with their allowance. they just have to wait a week after saying they want to buy it. essentially, they put in a verbal request to purchase and it is automatically approved in one week.
basically, they taught *themselves* that what they desperately want one day, they almost *never* want a week later. they never feel deprived, because they know they are completely in control of their money and they can buy whatever they want. we merely make them wait a week. at this point, even with a very modest weekly allowance, they have both accrued sizable balances. so again, they learned on their own that giving up short-term small wants ends up making them rich. ;^)
all good lessons, and i didn't have to make a single speech! :^D
i don't mind if they "waste" their money making a bad purchase -- it's just as educational (if not more so). my younger son bought a $4 comic book this year, then told me that he really regretted it because he wasn't going to get 4 dollars' worth of enjoyment out of it. ;^)
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