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Windfall for the Kids

August 31st, 2013 at 10:39 pm

My husband went out to see his parents last night and he came home with two checks for the kids of $250 each. Apparently they have been spending a ton of money on his sister's kids lately and they wanted to make it even. We have told them before that they do not need to do this as SIL lives below the poverty level and we are doing very well right now. But they want to be fair, so the kids got the money.

I have told each child that they must put $30 each into their savings account. That is 12% of the total. I've also told them that they have to start saving at least 1/4 of their allowances every week. I want them to get into a savings habit.

6 Responses to “Windfall for the Kids”

  1. MonkeyMama Says:


  2. scfr Says:

    Nice - I'm not sure how your kids feel about it now, but they will thank you some day. My parents did not teach me the saving habit at a young age, but one of my best girlfriend's parents taught her and I remember it sank in even way back in high school that that was probably a good idea. When we got together for our *&$@-th (insert a BIG number) reunion I mentioned to her that I had taken note of what her parents taught her and it influenced me later in life.

    She and her husband live a comfortable but modest life and are expecting to be able to retire early.

  3. North Georgia Gal Says:

    How nice for your kids!

  4. creditcardfree Says:

    Very nice!!

  5. rob62521 Says:

    Very nice for your children and good idea of having them save part of it. You are instilling good saving habits for the future.

  6. Wino Says:

    I am curious why you are not insisting they put at least 15% into savings. That is the "standard savings rate" that everyone suggests.

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