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Kids Ask Skipper - Should I Spend or Save This Money?
By Skipper the Door County Otter
Jan 25, 2011 - 8:00:00 AM


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Dear Skipper:

I have saved up almost $30 from my allowance from several months and some
money I got for Christmas from my gramma. My parents think I should save it
in my bank account. But i really want to buy something for myself that I
have always wanted. I'm a fourth grader. What do you think I should do?
Your friend,
Brittany M, Sister Bay

Dear Brittany,
I'm glad that you are being thoughtful about what you are doing with your money.  Good for you for saving $30 already.
 
It is always a good idea to save some (or most) of your money when you receive it.  Have you ever heard the expression "save your money for a rainy day"?  Good things come from saving your money.  #1 is that when you save more and more money, it accumulates, so you will have more when you need it.  And #2, while
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you are saving your money, you can spend that time being thoughtful about what you will do with that money when you do spend it.  I would recommend that you put at least $15 of that money into your bank account. If the special something that you have always wanted costs $15 or less, then you can buy it right away.  If not, save that $15 in a fund that will go towards your special something.  Be sure to talk over your decision with your parents (which it sounds like you are already doing).  Even though it may be frustrating if they have a different idea in mind, try to listen with a open mind.  Remember—they just want to help you make the good choices about money.

 
A great way to have more money is to earn it!  Hard work literally "pays off"!  Here are some ideas for things to do to earn money: you can babysit, be a parent's helper, help with house cleaning chores, have a lemonade stand, wash cars, walk dogs, pet-sit, do yard work, shovel snow, etc.  There are lots more options for earning money that you can find either online or with the help of your parents.
 
Also, having a job helps you learn to be a more responsible person!  And anything (even a job) can be fun, if you make it so!  Good luck!
 
Your friend,
Skipper

Skipper's expertise is in life outdoors, but he will also address questions about other topics such as food, school issues, sports, getting along with others, family pets, etc. So what's your question?

Write to Skipper at:
skipper@doorcountytravelersjournal.com

Questions for Skipper are due one week in advance of the publication of his column, that is, Tuesdays, so that he has ample time to ponder, research, and respond intelligently.
 


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