Earlier this winter, our local bank (East Cambridge Savings) also had an art contest. There were four age categories with different drawings to color for each (including a *blank* page for the oldest category). I grabbed entry forms for all the kids we had over for Thanksgiving, provided it to them as an activity and submitted their entries the following Monday. Gavin’s was a scarecrow that he colored in. And guess what; he won his age category! The reward was posing for this photo at the bank with other winners, and $125 dollars!
Because he is officially allowed full discretion over 20% of his “income,” (think Balanced Money Formula) Gavin got TWENTY FIVE BUCKS* to spend however he wanted.
After banking the first $100, his father saw to it that Gavin received the remaining $25 in ONES. Gavin promptly bought a bag of chips for $1, and came home with the rest.
Great job Babe! (Proud of BOTH my boy AND husband on this one.) (o:
*[OK, the Balanced Money Formula stipulates 30% of income for “Wants,” not 20%. Call me austere. In any case, it comes from the book “All Your Worth” by the incomparable ELIZABETH WARREN and her daughter. It’s very short, incredibly practical, totally readable and basically the only financial book I’ve been able to stomach, if that says anything. Now to just implement all its recommendations MYSELF.]
PS: [WARREN for President in 2020 & 2024! Just sayin’.]