The potters herald. [volume] (East Liverpool, Ohio) 1899-1982, 1942-06-18
THE CHILD AND HIS
MONEY
BY LUCIA MALLORY

\ child will learn the value of money |
only by managing his own budget. In
most cases, even Il seven year-Old should |
be given a small allowance. At this age,
self-interest should already have be-
come somewhat tempered with both Il
sense Of fairness and a desire to share.
Parents should continue to help the
child to develop attitudes of uncom-
promising honesty and sincere altru-
ism. The amount, which is to be given
to Il child regularly, should be decided
upon in advance by both parents. 1t
should be in proportion to the income
of the family, the age of the child and
the responsibility he is to undertake
with it. 1t should not be made so miser-
ly that he will feel he is not being
given a fair amount, and not so liberal
that he will have an inclination to
spend too freely. Today, the desire to
purchase war stamps is a helpful check
on a tendency to extravaganza.
The youngster will be proud to have
a regular ''incOme,' and the amount
he will feel he can. get everything he
wants with it. However, he will learn
that even 80 cents Il week will not 90
very far if, for instance 20 cents is
spent for Il picture show, 10 cents for
Il notebook, 10 cents for Il Sundae,
cents for candy and > cents for Sunday
School. \ 30 cent football ticket will
take all of his allowance for that week
unless he has set aside Il small amount
for several preceding weeks to meet
this special pleasure.
An allowance of 80 cents Il week
will find it inadequate and as Il result
the desire to earn money will soon be-
come evident Selling magazines is an
excellent way for Il boy or even Il girl
to secure extra change. My son sold
ma gaZineS at one time and he exercised
considerable fOrethOught b fore he
spent the money he had earned in that
manner. When he did use his magazine
profits for tickets, Il ball bat, and simi-
! lar expenditures. he seemed to derive Il
great deal Of satisfaction and pride
from buying these things with the
money he himself had made.
Children of nine or ten should begin
| to be taught to purchase their clothes.
| Only Il few of the less expensive items
should be undertaken at first. Then ad-
ditional responsibilities can be added
! from time to time as the shoppers be
| In
rather definite ideas as to values. But
parents should give suggestions with
regard to shopping and allow the child
to aid in making purchases long before
he undertakes the full responsibility for
himself If suggestions have been given
i'm a tactful companionable manner the
child will naturally turn to the parents
later when in Il quandary. But after
the responsibility for the purchase Of
any particular garment has been given
over TO the child. the parent should not
try to influence the selection. At times
it will be hard to let the children make
mistakes in their choices. but it Will
be necessary for them to make "a few
mistakes in order to secure experience
1t will be interesting to see how sur
priSed the boy or girl will be when first
undertaking 10 arrange Il clothing bud
get. 1t is an excellent plan TO let chill
dren work first on the family budget,
Dads salary sounds aStoniShingly large
to them until they discover the long list
of expenses that must be taken care Of.
such as life insurance, fire insurance,
liability insurance, repair work, rent or
payments on the home, drugs. doctor
bills, groceries. clothing, telephone, ccc-
trio bills, fuel, help. laundry, and 50 on.
OF course they will be especially inter
eSted in the amount set aside for Il De
fenSe Bond
Some of the most eXtravagant wives
in the world today are those who never
handled any money until after they
We're married. Whatever one of these
girls wanted was charged to Dad and
such accounts quite often embarrassed
him, and later the husband, too suffers.
Adults who are SpendthriftS are usual
ly the grown-up, inexperienced children
of indulgent parents who never taught
them the value of money.
81 I.;n Il