Lessons in Money Management 101

5-year-old Miss F has just bumped into the perils of spending money you don’t yet have.

“Mummy, look, I found some money in my drawer!”

“Thank you, that’s just enough to pay me back for that small fluffy toy you wanted last week, and didn’t have enough money for. We agreed that you’d pay me back with your pocket money, so I’ll just sign off this I.O.U.”

“But, I wanted to go to the shops with that money! I hate I.O.U’s!”

Don’t we all….

She then asked if there was any way to earn more money.  I explained that it would have to be a job that I would usually do, rather than something she normally helped with anyway, and set her to polishing shoes at 20p per shoe (40p for Daddy’s size 12s) so the lesson will hopefully stick.

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