Browse Month: September 2019

How I streamline my son’s allowance, interest and recurring payments

It’s been a few years that I’ve been working with my son on personal finance. Like with other aspects of life, things have gotten a bit complicated.

  • He gets an allowance — a percentage goes to his FamZoo card and the rest to his savings (it sounds simple, but the latter has an extra step)
  • He earns interest on his savings
  • He’s now paying ME for recurring expenses including his cell phone and Duolingo Plus

Maybe you’ve experienced this with your own finances — you put different processes in place and over time, you can’t remember how the whole process works and are afraid to touch any one thing.

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