Posts Tagged ‘allowance’

The Allowance Experiment, Completed!

The Allowance Experiment, Completed!

By The Banker | Blog Posts, Personal Finance

Last night completed Day 30 of the “Allowance Experiment,” in which I offered my eldest daughter a daily payment calculated as 10% of her allowance savings, compounding daily.  On day 1, she began with an initial grub stake of $1.  She received $0.10 on day 2 (10% of $1) and $0.11 on day 3 (10% […]

The Allowance Experiment Gets Better

The Allowance Experiment Gets Better

By The Banker | Blog Posts, Personal Finance

More Happy Unintended Consequences More exciting things (to me) keep unfolding from the ongoing financial education of my 8 year-old. A little while back I took all of my daughter’s tooth fairy savings and invested it in Kellogg stock, a wonderful, awful, idea of mine to begin teaching her about investing. Following that, my daughter […]

Daddy, I Need An Allowance

Daddy, I Need An Allowance

By The Banker | Blog Posts, Personal Finance

Unintended Consequences Parents will recognize the following as the “If You Give a Pig a Pancake” problem, referencing the ubiquitous children’s book about giving a pig the first thing (a pancake) which leads to the next thing (some syrup), which leads to the next thing (a napkin), and so on. For those of you who […]