There are few things sweeter to a parent than hearing their child say, “Mom, can I ask for some underwear for my birthday?” I couldn’t help but chuckle at my daughter’s earnestness, only to find out she was dead serious!
A year prior, when she started eighth grade, my 13-year-old proposed a bold plan: a one-time allowance of $100 to cover her expenses for the entire school year. With a gleam in her eye, she drafted a contract detailing the arrangement, and after some back and forth, we all signed off.
For eight weeks, she felt like a millionaire—but then reality hit, and her funds dwindled for the next eight months. Surprisingly, those months of financial constraint were some of the most valuable lessons she could learn.
Here’s what she discovered:
- Hustle Hard: Suddenly, my daughter was the most industrious kid around, eagerly accepting babysitting gigs and seeking out every opportunity to earn some cash.
- Get Creative: Instead of spending money, she suggested free activities with friends. At Christmas, she made homemade gifts or scoured thrift stores for unique finds. Everyone appreciated her thoughtful presents even more.
- Frugality Rules: She opted out of the pricey yearbook and shunned fast food during sports trips, preferring home-cooked meals. When it came to her eighth-grade trip to New York City, she hesitated, knowing it would deplete her savings. In the end, she worked alongside me babysitting three kids all weekend to earn the trip. While she didn’t bring much spending money, she avoided junk food and, shockingly, didn’t buy any cheap souvenirs. But she walked away with unforgettable memories instead!
- Independence: My daughter took pride in managing her own finances, and it showed in her confidence. Earning that NYC trip felt empowering, and she even asked me to leave at times so she could feel fully in charge. I loved seeing her take the reins.
- Gratitude Galore: A noticeable shift occurred in her appreciation for the little things. Whenever I picked up a treat for her, like her favorite soup, she was overjoyed. For Christmas, she asked for running shoes and tall boots—items I would have purchased anyway, but her sense of responsibility made her thrilled with these practical gifts.
- Peaceful Shopping: Our typical clothing battles vanished. Instead of begging for trendy outfits, she’d simply suggest things she liked, and our shopping trips became a pleasant experience. Occasionally, she tests the waters with lines like, “Please, Mom! I’ll pay you back!” but with my husband’s encouragement of “Stay strong,” I hold my ground.
- Budgeting Skills: While “Queen” might be a stretch, she maintains a ledger where she tracks her income and expenses. She allocates 10% for charity, 20% for college savings, and keeps 70% for her personal use. For families seeking similar resources, check out websites like www.themint.org.
As my daughter transitioned into high school, her allowance increased, but we still help with costs for things like iPads and sports fees. Despite this, the peace and gratitude she demonstrates remain more substantial than before. Now, when she needs or wants something, she respectfully asks rather than demands.
She recently spent her hard-earned cash on a stunning dress and matching shoes for a semi-formal event, and to her, it was worth every penny. This weekend, she’s back to babysitting after a busy week of school and sports, and she’s even lined up a summer job to save up for more fun. Sometimes I worry she’s taking on too much responsibility at just 14, and I ponder whether she should be enjoying more carefree summer days. Then again, is that just the modern mom’s dilemma?
Our family life isn’t always seamless, filled with constant adjustments and new routines, but the $100 allowance worked brilliantly because my daughter initiated it and fully embraced the concept.
And yes, she did receive the underwear she requested for her birthday—and she was genuinely happy.
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Summary
My daughter’s experience with a $100 allowance taught her valuable life skills, from budgeting to gratitude, while also fostering independence. As she navigates high school, she continues to manage her finances with confidence, making informed choices and balancing responsibilities with the joys of youth.