Finance Fall 2009: Back-to-school Savings?
Smart ways to save: handling the handouts
Published in Parents Canada in August 2009 (Money)
I used to get off easy with my daughter's back-to-school shopping. She was perfectly content if we bought one or two new outfits, which we then supplemented with items from Value Village and hand-me-downs from her cousins.
Then she turned 11 and discovered labels. Suddenly she was clamouring for $60 Converse running shoes, $40 Aeropostale capris and $25 Gap T-shirts. Puberty had hit and she wanted to blend in with her peers by donning a hip preteen uniform. My frugal sensibilities, however, balked at shelling out for these high-priced duds.
I Made A Deal With Her
I'd buy a few of the brand name item s that I thought w ere necessities, but she'd have to ante up for anything else by dipping into her allow ance or birthday m oney. When she realized how long it would take to save for these clothes, she hit on a brilliant idea. "Mom, can I get a paper route?"
It was music to my ears. Getting a part-time job would teach my daughter about the value of earning, saving and spending money. I could feel my wallet breathing a sigh of relief.
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