THE VIRGINIAN-PILOT
Copyright (c) 1996, Landmark Communications, Inc.
DATE: Friday, April 5, 1996 TAG: 9604030167
SECTION: VIRGINIA BEACH BEACON PAGE: B02 EDITION: FINAL
SOURCE: BY SARAH WILDERMUTH, HIGH SCHOOL CORRESPONDENT
LENGTH: Medium: 76 lines
``Mom, may I have a raise? All my friends get more than I do.''
These lines get at one of the most common family arguments. Most adolescents wish they had more spending money and the want gets worse as the years go on.
According to the latest Zillions magazine, 13- and 14-year-olds are the most discontent about the amount of their allowances.
In raise negotiations, many parents normally say something such as, ``I can't believe you want a raise when you are already getting a lot more than I ever got for my allowance as a child.''
Well, in many cases, this is not true. Inflation has pushed up prices so that a seemingly large allowance has the same purchasing power as lower allowances did 20 or even 40 years ago.
Donald S. Fuller, a history teacher at Kempsville High who was born during the Depression, said, ``I could ride the streetcar, go to a movie and buy popcorn for 25-cents.'' Today it costs $3.75 for a matinee movie. Forget the popcorn.
But what about the really oppressed, those who do not get an allowance at all and instead have to ask their parents each time they need some money?
Surprisingly, they should probably not be upset. That's because by asking for the money, many of these children receive on average the same amount that a child who receives allowance does.
However, according to ``Piggybank to Credit Card'' by Linda Barbanel, kids who do not get an allowance are worse at managing their money. They are more likely to use up their money quicker which leads to more begging for money more frequently. Therefore, if parents give their children allowances, they will teach their children to manage their money better, and they will save themselves many disputes over money.
Also, children who receive allowances are able to feel more independent than those who received money arbitrarily from their parents.
Jennifer Geddes, 16, a junior at Kempsville High School, said, ``It gives me a chance to buy things that my parents would not normally let me buy and helps me use my money wisely.''
Now that two good reasons have been given to support any child who argues for a raise, here are some different ways that parents can give allowances to their children.
``Kiplinger's Money Smart Kids'' suggests three ways to get children to actually work for their allowances instead of just getting the money for nothing.
The ``choose-a-chore'' strategy works well in many households. Each child gets assigned one chore in the house and if they do that chore the entire week, they get their allowance on the last day of the week.
Another method is to have a point system where each time a child does a chore, points are awarded. Each point should be worth something, and at the end of the week the points are added up and the child is given money for the amount of chores done.
The final suggestion is to give your child, say $5 in a cup at the beginning of the week. Whenever something is not done that should have been done, a quarter is taken out of the cup and at the end of the week, the child gets all the money left in the jar.
In Zillions magazine, it was reported that in 1995, the average allowance was $3 to $5 a week. MEMO: Sarah Wildermuth is a junior at Kempsville High School.
THE COST OF THINGS
In 1975, Old Dominion University charged $24 per credit hour for
in-state students. Today the cost is $133 per credit hour.
A Cutlass Supreme 20 years ago cost about $5,000. The same car costs
$18,000 today.
In 1975, it cost $2 for admission to a skating rink and 75 cents for
skate rental. Today, admission for skating is $4.50 and skate rental is
$1.25.
- Compiled by Sarah Wildermuth by CNB