Does anyone have any ideas for my daughter who is 12 as to how to spend the 33 dollars she earned babysitting?

Question

She will really enjoy reading all your replies! Give her some smart ideas! Thank you kindly :)

Answer 1

Don't spend it - save it into a savings account that pays her interest on the money she puts in. A credit union will usually have good interest rates. She should save up her baby sitting money! One day she will be SO glad she did because when she gets older and wants that car... if she babysits A LOT she could potentially have herself some kind of a down payment for that car.

Answer 2

First, congratulations on your first paycheck for a job! Not all parents will allow their 12 year old babysit. Babysitting at 12 years old is a great accomplishment, and you should be proud!

Step 1) Discuss how money really works
Step 2) Create a plan or budget
Step 3) Plan to save $21.45 or about 65% of the money earned in an account
Step 4) Split the remaining $11.55 or about 35% in half. Spend one half on yourself, spend the other half on someone else, and feel great about giving to somone else.

Answer 3

HI....everyone is saying SAVE...I have to agree.

My 8 year old daughter saved last summer for an 80 dollar bike. We went to the store and picked it out ahead of time....it was a happy day when she brought it home. She has talked about it many times since and is proud that SHE saved the money. Right now she is saving up for some hand held video game thing (don't ask me the name, I have no idea). It is around 100 dollars, she has about 20 saved so far.

Since your daughter is older, it may be a good idea to open a bank account and set her up with on-line banking, then she could have the pleasure of "logging on" to watch her funds grow.

The poster above was right...spend the 3 dollars on ice cream or a fun little outing with mom, then you guys can go out and open an account for the 30 dollars.

Enjoy !!

Answer 4

Open a savings account and keep adding to it. Since it's summer and she will probably be babysitting alot, the savings can really add up. It's also fun to watch the interest accumulate.

My 13-year-old son is saving for an I-Pod. He has about $80 in his savings account right now and hopes to have enough by the end of summer.

Answer 5

Is there some treat she really wants? If not, she could start a savings account or buy savings bonds.

One "treat" idea, if your daughter is interested in this sort of thing, is when I was about that age my aunts took me to a nice makeup counter, had a saleslady show me how to pick out the right colors and types of makeup, and then bought me some good makeup. It was great because I had started wearing makeup, but didn't really know much about it. They bought me a foundation, blush, eye shadow, and lipstick. She couldn't get that much for $33, but she could get a few things.

Answer 6

I think she must save something out of her earning. Open a savings account in the bank. It will inculcate the habit of saving also. Rest of the money can be spent on games like badminton, lawn tennis, football, basketball; whatever the game of her choice is. This is what I feel. May God Bless ur cute, innocent and responsible daughter.

Answer 7

If she's like me, she would go to Barnes and Noble and get a few great books!!

Or maybe she could go to the craft store and buy supplies for a project for her room or just something cool!

Maybe she could have business cards or flyers made to help her babysitting business grow so she can earn even more!

Answer 8

The first step should be a account, depositing at least 30% this will set up good saving habits for her.....because as adults know there will always be some new item we "must have" and the rest on something entertaining....have fun...

Answer 9

Take some of it and start a rainy day fund. With the rest buy a gift for yourself or someone special (mother/best friend). Giving is a very rewarding feeling.

Answer 10

Open bank account, place 1/2 of the money in the account. the other half use towards your own personal items that you need. Hair products, toiletries, etc.... learning to spend your money wisely and buy for yourself, will help your mom and dad out. And your parents can't tell you no that they don't want to give you money to buy something, because it may seem un-necessary to them but it's important to you to have it. You now have your own money to buy it and not ask them for things.