Sometimes, getting an allowance seems like playing Monopoly.  You’re given a stack of paper money FREE…without having to do anything for it.  Of course your parents have probably told you, more times than you wanted to hear, that the cash they give you is “NOT MONOPOLY MONEY” to them.  They have to WORK FOR IT!

More than eighty percent of parents give their sons and daughters allowances.  But most of the time the amount kids get doesn’t seem to be enough.  Right?  You’re broke long before you can buy all the things you need, or before the next allowance day comes around.  Not only is that unfair, but what’s just as bad is that the adults in your life are always criticizing you for WASTING THE MONEY THEY GAVE YOU.  Hey…it’s your money, isn’t it?  So how come they’re always telling you how to spend it?

The answer is HABIT.  Probably your mother, father, or grandparent started giving you a little money when you were six or seven.  You may have gotten that allowance because you complained that all the other kids were getting an allowance.  Or maybe your folks thought having your own money would stop you from bugging them to “BUY ME THAT,” or “I WANT THAT,” every time they took you to a store.  REMEMBER??

Back in those days, you didn’t mind so much when they told you what to do with the money they gave you, like “be sure to save some in your bank,” or “use some to buy your sister a birthday card.”  So, they just got used to telling you what to do and now they find it hard to break the habit. 

But, now that you’re older and your allowance is bigger, naturally you want to be in control of what you do with it.  In the language of banks and insurance companies, you want to be a MONEY MANAGER – managing your own money.

To find out how good a money manager you are, fill in the blanks below.

AGE _____________________________________________________________

AMOUNT OF WEEKLY OR MONTHLY ALLOWANCE __________________

WHAT YOUR ALLOWANCE MUST COVER____________________________

WAYS TO DIVIDE WHAT YOU HAVE TO COVER WHAT YOU NEED______

AMOUNT OF WEEKLY SAVINGS____________________________________

Click Here for some ways to S T R E T C H what you get by learning to make a budget.