Lily'S Money Tips for Kids

So I decided to take what I’ve learned from trying to smarter about my money, and all of the research I did, and put it together into a little booklet, but first I thought I would try our some sections with you to see if you had any ideas on how to make My Money Tips for Girls better:

 

Tip 1:  Pay yourself first

 I took 10% of my allowance (that $1) and put it aside.  I hid it in my closet in a special shoebox.  (I figure I can tell you since you won’t be coming to Riverton anytime soon.). I am supposed to do this every week and never ever, ever touch this money, so it can grow and grow and grow.  Unfortunately, that didn’t work (see Tip 4).  So now I know.
Split your money up this way
70% for everyday expenses
10% for my fortune
10% for the future
10% to share

 

It was harder to make do with even less than before, but slowly as I put more money into the different buckets, I realized it was ok to dip into the future for something I really wanted, especially since it made me really think long and hard about whether or not it was worth it.

 

So that’s Tip 1 – let me know what you think.  And this week I am doing so much better with my allowance.  I actually didn’t touch the dollar I put away in my do not touch box.  And like Rose suggested, when I wanted a magazine, I stopped by the library, read the story and then put it back.  I got what I wanted for FREE! Pretty neat.

Check out GirlMogul.com for more about us, the GirlMoguls.

Later,

Lils