Newspaper article The Topeka Capital-Journal

Good Saving Habits Will Pay off for a Lifetime

Newspaper article The Topeka Capital-Journal

Good Saving Habits Will Pay off for a Lifetime

Article excerpt

Dear Bruce: I do what I can to make a buck. I rake leaves, shovel snow, mow lawns, etc. My parents think this is all very good, but now they think they shouldn't give me an allowance anymore. Is that fair? Their argument is that they want me to take some of my earnings and invest it into some kind of savings. -- Jerry

Dear Jerry: I congratulate you on being ambitious. There are so many kids who are not. With that being said, I am on your parents' side.

How much you should save is another story. Let's settle on 20 percent. Put that portion of everything you earn into a savings account until you have a few hundred dollars, and then your parents can introduce you to investing in the stock market.

As to the allowance, put a reasonable amount of value on the duties you do around the house. …

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