Text Box: Text Box: WHY I NEED AText Box: BIGGER ALLOWANCEText Box: sad,ALLOW ME:

GETTING AN ALLOWANCE

Webster's dictionary defines the word allowance as "a sum
given in return for expenses." For most tweens, an
allowance is another name for money, dough, cash, or
income given to them by their parents. Some kids get an
allowance for doing chores around the house or keeping
up good grades. Others get an allowance for nothing at all.
According to the Yankelovich Youth Monitor, a study
of kids done for America's top five hundred companies,

In

Allow Me:                      Getting  AN ALLOWANCE                                          "11

56 percent of tweens (ages nine to eleven) and 67 percent of teens (ages twelve to fourteen) get some kind of allowance. The average pay is somewhere between $8.00 and $11.30 per week. Sounds like a pretty good deal, huh? Well, it only gets better. Since most teens don't have any big bills to pay, this money often pays for F-U-N.

Text Box: BOTTOM LINE You can fold a dollar bill four Text Box: thousand times before it tears.ASKING FOR AN ALLOWANCE

If you don't already get an allowance, ask for one. With an allowance, you can start stashing cash for a rainy day—or for rainy-day fun. You can save for trips to museums or ball

games or for the latest CDs, DVDs, or video games.

If you need some help to convince your parents that you need an allowance, try these two points:

(1)       Money experts agree that an allowance helps teach tweens how to handle their own money.

(2)         You'll stop hounding your parents for money every time you want to buy or do something. HONEST.

Can you already hear the opening of Dad's wallet or Mom's purse? Well, just hold on to your piggy banks for a minute. Here are a few surefire ways to talk to your par­ents about an allowance.

LET'S TALK ALLOWANCE YOURS!

First, do your homework. Make a list of the things you need each week, why you need them, and how much they

12 EARNING MONEY

cost. Make sure to list the costs of your hobbies, holiday and birthday gifts, and snacks.

Then get to the point. Say, "Mom and Dad, I would like to receive an allowance." You'll be surprised how easy it is to convince them.

Explain why you need an allowance. Be honest. State the reasons you want an allowance. Talk about your expenses and what you want to pay for with your allowance. Then talk about how much money you think you need and how often you hope to be paid.

Discuss what you may (or may not) do in return. Most parents like the idea of tweens earning an allowance. They believe that earning money teaches tweens the value of hard work. Many parents also think that an allowance shows tweens how the real world works. When people work, they earn money. It's that simple. Or is it?

VALUE AHED

Expecting BIG BILLS in your future? Then you'll want to know how to tell them apart. Match the statesmen to the bills on which their faces are printed. Answers are on page 20. No peeking!

1.   $1                                         Ulysses S. Grant

2.   $2                                         Abraham Lincoln

3.   $5                                         Thomas Jefferson

4.   $10                                      Benjamin Franklin

5.   $20                                      Alexander Hamilton

6.   $50                                      Andrew Jackson

7.   $100                                    George Washington

ALLOW ME: GETTING AN ALLOWANCE 13

Other parents have different views. Some don't mind giving their kids money without them having to earn it. And some parents think teens and tweens should help around the house without pay. After all, they are part of the family. They live in the same house and should help keep it neat and clean. What do you think? Be prepared to talk about chores you can help with around the house in exchange for an allowance.

Finally, shake on it. Whatever deal you and your par­ents strike, make it official. Shake on

it. Sign a paper. Draw up a chart. BANK A dollar bill is Include what has to be done and ON IT 2.61 inches

6.14

when. That way, there won't be any high by 6.14

inches wide .0043 thick

questions or arguments. And you'll soon be reaping the benefits of an allowance.

ASKING FOR A RAISE

If you already receive an allowance, it may be time to ask for a raise. Follow the steps above. You may also want to think of ways you could earn the extra money.

Need even more money? Want to earn some money on your own? Then read on. The next four chapters of this book are sure to give you an idea or two (or three) for earning money. Believe it or not, inside YOU, there's a moneymaking machine. In fact, your machine might make so much money that you won't need an allowance any­more. So what are you waiting for? Turn the page. Start earning money!