Making Allowances - Prize Winners November 1999!!!!!!!

		this is a safe site
	Contest WinnersAnnounced Nov. 10/99 GRAND PRIZEWINNER $200 Mutual Fund In almost every handful of change you can find one or more American coins. All members of our family keep an eye open for these coins which we set aside in a special jar. When we vacation in the US there is always more than a few dollars to take long. It may not be much but its cash have not had to pay any exchange on - thereby a savings! If the kids have been the keenest "finders" these coins are added to their spending money. T. Cuthbert Victoria, B.C. There's a family that just jingles right across the border! 1stRunner Up Prize Winner My children are in Grades 2 and 5 and they travel to school by bus. My children would forget things at school; I found myself driving back to school a couple times a week to retrieve the forgotten item. I explained that gasoline costs money and that by them taking the bus home and me driving them back to school we were also hurting the environment through gasoline emissions. SO, now I have a coffee can with a hole cut into the lid in the car. When they forget something they have to put a quarter in the can for the cost of the trip! Besides realizing that operating a vehicle costs money every time, the side benefit is the children are now forgetting fewer things at school! E. Brown Sarnia, Ontario Wow! Saves money and the environment and improves your memory... what a program! 2ndRunner Up Prize Winner My husband and I use checkbook ledgers for both of our teenagers. Each of our sons has his own ledger to document weekly allowances as desposits and personal expenditures as payments.Major benefits: a) It encourages use of a checkbook ledger with deposits and expenditures b) We do not have to worry about directly giving weekly cash allowances, as allowances are treated as "direct deposits" into the ledger which is really a pseudo-account. However, if they need cold, hard cash we are prepared to do that once they note "cash advance" in their ledger. c) It clearly documents where expenditures have gone and how much has gone or how much has been saved. d) At the end of each month, "interest" is given for whatever positive balances exist. (We give more that the local banks, by the way, to encourage saving.) e) Should one of our teens wish to spend more than he has available, a loan can be recorded which results in a negative balance in the ledger. This is paid back over time until the ledger balance once again is in the positive. Interest could be charged on the loan (although we have not done so). This has been great for us and we would recommend it to anyone. M. Pascucci New York It would be embarassing to write down that you spent $173.81 on nachos... 3rdRunner Up Prize Winner I always pay the kids their allowance on a Sunday, so they don't spend it during the weekend. As a former bank employee, I find myself thinking always in dollars and cents, so my tip is: I strongly suggest they strive toward depositing a good portion of it, eveery two or three weeks in their bank account. They maintain two bank accounts.- one is in "trust" for each of our two children - my husband and I have sole signing authority. This account is used to build up to $500 annually, with us contribuiting $35 per month in the account and them kicking in some from time to time, whether it be monetary gifts or whatever.- the second account is completely theirs, with only their signing authority. This account is used to save up for something specific or for their "mad money". They have no debit cards, so they are at our mercy as far as scheduling time on our days off to go to the bank to withdraw.This system works well in that they learn how long it takes to save to buy what you want (and sometimes, they change their mind when they have to make the purchase with "their" money). We have put our half into their first big new bike purchase, but the second "more cool" bike comes out of their own funds. Our twelve year old is still waiting to buy - he is parting with 1/2 of the money and wants to make sure that it's the bike he really wants. Our 14 year old bought her second bike with money she saved from babysitting. M. A. Dudragne Swift Current, Sask. There's an idea with wheels on it! Got a great idea of your own? Enter our new tip contest, win fabulous prizes and become famous, just like the lucky winners above! To enter our contest, click here! Check out all the winners: Go home. Site contents © 1999 by Paul W. Lermitte	FEATURES

Making Allowances

this is a
safe site

Contest WinnersAnnounced Nov. 10/99

GRAND PRIZEWINNER

Look at Uncle Sam's money!!! $200 Mutual Fund

In almost every handful of change you can find one or more American coins. All members of our family keep an eye open for these coins which we set aside in a special jar. When we vacation in the US there is always more than a few dollars to take long. It may not be much but its cash have not had to pay any exchange on - thereby a savings! If the kids have been the keenest "finders" these coins are added to their spending money.

T. Cuthbert
Victoria, B.C.

There's a family that just jingles right across the border!

1stRunner Up

Cut out the picture... Prize Winner

My children are in Grades 2 and 5 and they travel to school by bus. My children would forget things at school; I found myself driving back to school a couple times a week to retrieve the forgotten item. I explained that gasoline costs money and that by them taking the bus home and me driving them back to school we were also hurting the environment through gasoline emissions. SO, now I have a coffee can with a hole cut into the lid in the car. When they forget something they have to put a quarter in the can for the cost of the trip! Besides realizing that operating a vehicle costs money every time, the side benefit is the children are now forgetting fewer things at school!

E. Brown
Sarnia, Ontario

Wow! Saves money and the environment and improves your memory... what a program!

2ndRunner Up

Save a little, the view gets better. Prize Winner

My husband and I use checkbook ledgers for both of our teenagers. Each of our sons has his own ledger to document weekly allowances as desposits and personal expenditures as payments.Major benefits: a) It encourages use of a checkbook ledger with deposits and expenditures b) We do not have to worry about directly giving weekly cash allowances, as allowances are treated as "direct deposits" into the ledger which is really a pseudo-account. However, if they need cold, hard cash we are prepared to do that once they note "cash advance" in their ledger. c) It clearly documents where expenditures have gone and how much has gone or how much has been saved. d) At the end of each month, "interest" is given for whatever positive balances exist. (We give more that the local banks, by the way, to encourage saving.) e) Should one of our teens wish to spend more than he has available, a loan can be recorded which results in a negative balance in the ledger. This is paid back over time until the ledger balance once again is in the positive. Interest could be charged on the loan (although we have not done so). This has been great for us and we would recommend it to anyone.
M. Pascucci
New York

It would be embarassing to write down that you spent $173.81 on nachos...

3rdRunner Up

Your first bike is always your favorite... Prize Winner

I always pay the kids their allowance on a Sunday, so they don't spend it during the weekend. As a former bank employee, I find myself thinking always in dollars and cents, so my tip is: I strongly suggest they strive toward depositing a good portion of it, eveery two or three weeks in their bank account. They maintain two bank accounts.- one is in "trust" for each of our two children - my husband and I have sole signing authority. This account is used to build up to $500 annually, with us contribuiting $35 per month in the account and them kicking in some from time to time, whether it be monetary gifts or whatever.- the second account is completely theirs, with only their signing authority. This account is used to save up for something specific or for their "mad money". They have no debit cards, so they are at our mercy as far as scheduling time on our days off to go to the bank to withdraw.This system works well in that they learn how long it takes to save to buy what you want (and sometimes, they change their mind when they have to make the purchase with "their" money). We have put our half into their first big new bike purchase, but the second "more cool" bike comes out of their own funds. Our twelve year old is still waiting to buy - he is parting with 1/2 of the money and wants to make sure that it's the bike he really wants. Our 14 year old bought her second bike with money she saved from babysitting.

M. A. Dudragne
Swift Current, Sask.

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Enter our new tip contest, win fabulous prizes and become famous, just like the lucky winners above!

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Go home.

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