whoa...somebody call congress

I just realized how to solve the economic crisis. The federal government can totally borrow from Younger. The kid is flush.

She needed some cash to buy a birthday present for a soiree this weekend so I took her to the ATM. (I know. You might be thinking...but...um...she's not even 14 yet. She has an ATM card? Yup. I'll explain.) When we were there she checked the balance. She has over $500 in her checking account. This is her money (not her college fund). She has saved her allowance forever. Starting back when she just got a few bucks a week. She loves watching it grow. And then? She loves a good splurge.

I wonder if she'd splurge for Congress. Probably not. She's cheap; not a push-over.

It's funny that Younger is such a saver. Not so much with Eldest. Eldest has never seen a dollar she couldn't spend. But not Younger. It used to be when I tried to pay her allowance she'd say, "Just save it for me, Mom." It got to the point where I had to keep an accounting of what I owed her! And when she collected it was real money.

It's not like we pay them a lot in allowance. Through grade school we paid $1 a week per year in school. So $1 in kindergarten; $2 in first grade; working up to $7 a week in sixth grade. If they wanted a new video game? Save your allowance for it. Want gum at the grocery store? Better have your money with you. Want an advance on your allowance? Sure. Sign this note and I'll charge you interest--call me the First Bank of Mommy. I use allowance to teach them how to handle money. (I don't pay for chores. You do chores because you are part of the family. And, truth be told? I'm not so good in the making them do chores department. But I also make separate chores--clean out the fridge, organize the luggage closet, vacuum the car--available for extra-earning potential.)

Starting in middle school, they got checking accounts with a parent as co-signer and ATM cards. (NOT, I repeat NOT, check/debit cards.) Since they don't have driver's licenses...they can't write checks without me. (Ha. I love foiling their evil check-bouncing plans.) We just do an automatic deposit on the first of the month. $40 a month in 7th and 8th; $50 in 9th; $60 in tenth. With this...movies, pizza, birthday presents for friends, save for friends' Christmas presents, etc. I also figure out what I'd spend on clothes at the various seasons and deposit that into their account. They get to decide what they actually spend it on. If they buy $60 jeans and no undies? It's raggedy-undies for them! I do retain a right of veto for "appropriateness". Laggin is not raising anyone who dresses like a slut. Got it? Fine, be all emo/rocker chickish. Fine, be preppy...if you must. But hell no on the slut look. Got it?

Younger is quite the social miss...so she's always heading off to parties and buying gifts. But somehow, her money just multiplies. Last night, when she realized how much she had, she was pleased with herself. We headed off to Target to buy a gift card for the party. While we were there, she decided to part with some of the cash and bought herself...an iPod Touch! She had the money. It's hers.

Eldest is green with envy. (She's still using my cast-off 3 year old 1 gig Nano.) Most of her money goes toward books, which is a good use of money. Except they do have these things called libraries. They are free.

I imagine Congress is a little jealous too. Younger may have more savings than the federal government...even after her splurge.