EoR No. 9: How do you feel about allowances for kids?
Plus, free tax filing resources, how much to spend on an engagement ring, what to really expect for inflation and more
Are we finally warming up in the U.S.? It’s been a long, hard winter, and I’m grateful for some sunshine and warmer temps this weekend — it reminds me this winter, too, shall pass! Get outside today for fresh air, sun and movement if you’re able, and let’s start this week on a high note. ☀️
News and upcoming events:
Writers, save the date! On May 17, I’m presenting a virtual workshop for the NSU Alvin Sherman Library on How to Start Freelancing, open to anyone who registers.
🥑 ICYMI at Healthy Rich this week
🔗 Things to catch
A comprehensive guide on where to file your taxes for free, get free assistance, disaster relief options and more from
.If life is hard right now, you’ll definitely find something to make it better in this list from
.Parenting writer
on why she doesn’t tie her kids’ allowances to chores (and why there’s no “right” way to do allowance).Don’t want to drop $20,000 on an engagement ring to keep up with “tradition”? Good news! That tradition is corporate nonsense.
Why
is not doing a no-buy year — and what she’s doing this year instead.How worried should we be about ongoing and future inflation? Maybe… a little, says economist
.Before worrying about a plummeting hiring rate, make sure you have all the data (from someone who knows what she’s talking about, like
).
💬 Let’s discuss
What’s your allowance experience?
Did you receive an allowance as a kid? Was it tied to chores? If you have kids, do you offer an allowance? Do they have to meet any requirements to receive it? What have you learned about allowance based on your experiences?
Thank you for the feature Dana! (It got me to my first 100 subscribers ❤)
I know there were periods of my childhood where I received an allowance, but it was never consistent. I do remember get paid $1 for every 'shiner' fish I caught in our backyard to use as fishing bait LOL
I did start working as soon as possible, babysitting at about 12 years old. I grew up in an unstable home and knew that money was independence, and I felt like an allowance was a manipulation tool.
I think about this a lot - if I have kids how I want their first interactions with money to be. I don't want my kids to only clean because they will get paid, but I want them to know what it feels like to earn money, be proud of their work, and feel confident and secure spending it.
Gen X here: never got an allowance LOL.
I did get cash for birthdays and some holidays. I don't remember 'needing' an allowance and I started working at age 15 so I was rolling in dough before I moved out at age 18! My 15 year old brain thought I was rolling in dough at least. Once I moved out, I was broke for the following 20 years no matter how many jobs I worked.
I'm still amazed at friends younger than me who lived at home AFTER high school graduation and worked and stuffed money in the bank for years; one person I know moved out when she got married and had $80k in the damn bank. What tha??
Not saying there is anything wrong with that, but to have the privilege of a stable home and people who will let you live there RENT-FREE as a young adult is definitely not the way most of my peers rolled.