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What to do with an allowance.
When you have money of your own, you must make choices on how to spend it. You must know that once you spend the money, it's gone until you save some more. Sometimes you may make mistakes in how you spend your money, but that's okay in the beginning. Remember that this is all a part of learning to take care of—or “manage”—your money.
Boys and girls who receive an allowance should plan how to use the money. This can be fun. It can help you get those things you want. Good planners use money for sharing, saving, AND spending.
It’s important to remember how you spend your money and one way to do it is to write down the money you spend in a notebook. That’s called keeping a record. This helps you see if you’re spending money in ways that you really wants to spend it. And the record also helps your parents decide if your allowance is the right amount for you.
Suggested Activities
Talk to your mom or dad about receiving an allowance or an amount of money that is yours to keep or spend. Ask your parents to help you use your money for sharing, saving, and spending. Make a list of all the things you can do with your money, and then keep a record of how you use the money
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