Thursday, 3 April 2014

The £40 12 Year Old Challenge

I am a massive believer that children are not taught enough about money at school.  

Blackpool Council have proudly announced they are giving each September 2014 Year 7 Child £10 to deposit with Blackpool and Fylde Credit Union.


Are you thinking what I'm thinking.  (I might soon start a blog "Stupid Things My Council Does")

I really don't know the ins and outs of it, but I think the gist is to show them that they can actually save it rather than buy 10 bottles of cheap energy drink.

So anyway, I figure school aren't going to teach the boys about financial matters so I'll take the matter into my own hands.  I tackled the handwriting problem - I can do this!

My 12 year old is either attached to a wireless device or out.  Both have their costs but the Out usually entails £5 on the way out for drinks and dinner (I mean lunch, I'm northern!)  17 days off school would equate to £85. To me that's a weekly shop, not a load of pasties and lucozade.
Child Savings

So, on the Friday they break up, I will be giving the boy £40 to do with whatever he wishes.  I shall also be asking for a daily run down to chart what he spends his money on.  I then propose to equate this to things he would want to buy or do. i.e. New Xbox game or a load of pop or A day at the Waterpark, 2 trips to the cinema and a couple of bowling sessions.

I shall be tweeting the previous day's expenditure so if you are interested in the spending habits of a 12 year old in a seaside town, my twitter feed is @Claire_Sheehan

Play along in the comments!  I'd love to know if all boys are the same and if other children do actually value money.

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