Reducing summer stress…

I'm giving my 12-year-old a cash spending budget for clothes and fun this summer.
Benefits:
It ends arguments because it shifts the decision making to her
Gives her a sense of freedom
Gives her accountability
Starts her on her way to lifelong financial wellness
Lets her interact with the cashiers and do math on the fly
Here’s how it works:
I have an annual budget for her clothes and fun
I split it in three Jan-April, May-Aug, Sept-Oct
I give her a list of things she normally buys
I help her spread her cash across her list for a general budget
I hold back the cash for necessities
Give her a bit of cash at a time
It’s not perfect but it cut down on petty arguments and has given her some agency in her life—that’s a win/win for me.
“Children have never been very good at listening to their elders, but they have never failed to imitate them.”
– JAMES BALDWIN, American writer and civil rights activist
As always have any questions, send us an email at support@afirefi.com we'll be happy to help you along your financial journey!
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