Posted: Sep 17, 08 7:38am
My DS (12) rarely spends his allowance and is quite a saver. A few months ago I was out of cash and checked his wallet to see if I could borrow some. I was SHOCKED to count $500! Wow.... I borrowed $20 and left him an IOU note. Needless to say, shortly after that we took him to the bank to open his own savings account. Since then I've found it easier to borrow from the "Bank of Tyler" if I should need a little extra cash vs. going to the bank. It has become a joke within our family. Need some cash? Go see Tyler! DH told him he should charge interest. LOL!
He has stated he's saving for a car because, "It will take me a long time to save up enough money. Hopefully, if I start now, I'll have enough by the time I get my license." Great thinking, but we'll see about that. He thinks long and hard before making any purchases. Right now he's researching and deciding between buying Guitar Hero or Rock Band. He's holding out until the new version of Guitar Hero comes out the end of October before making his decision. He has accumulated $100 worth of Gift Cards from Game Stop but has yet to spend them. Again, he's saving them for something big.
Good Lord, I wish his sister had the same thinking! She spends her allowance almost as soon as she gets it. Hopefully she'll learn and grow out of that financial approach.
Kids are all so very different, aren't they?! Even within the same family and parenting. It amazes me.
