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Frugal Friday Week 22

A month ago, I read an excellent post at Budgets are Sexy titled Wants vs Needs: What’s the Difference? I thought it would be interesting to get my daughter’s take on this and provide her a chance to author a guest post, so I turn the blog over to Jane 2.0:

At every age as you get older you will find that you have more and more needs and wants. When you are just a baby everything you need including food, clothing, diapers, are provided for you by your parents.
Now, let’s jump ahead 11 years that’s me, I’m 11. I can provide myself with about 1/8th of my needs and about 1/3rd of my wants. I need food, clothes, shelter and love. Though I can pay for the $80 grocery bill or $60 for a few shirts, that is my parents’ responsibility. My wants like cell phone, designer handbags, and Tiffany jewelry are my responsibility. What I am trying to get out here is that as you get older you can provide yourself with your needs. Also as you get older you have more job opportunities which means more money to pay for your wants. Being 11 the only ‘income’ I receive is a weekly allowance, money for mothers’ helping and watering neighbors’ plants.
Jane 2.0

(Thanks, J2, now go do your homework! Dad. aka Joe)

  • Jose October 23, 2009, 10:04 am

    Interesting thought. Will have to make my child set goals so that he can cover 1/N of his expenses… where N = 18 – CURRENT_AGE. Not a bad idea. Will ponder over it.

  • J. Money October 23, 2009, 10:07 am

    ahahha…you are so cute Jane 2.0!! And so smart too 🙂 You keep rockin’ out those finances so one day you’ll be able to take care of your dad when he’s old and wrinkly! Happy Friday.

  • Jeff October 23, 2009, 10:20 am

    Jane 2.0 – Nice job in your guest post. I think you should talk with your Dad about posting more often, maybe once a week. Tell him that you need to receive a $1 per comment for everypost. Then we can help you by commenting on your post to help beef up your income. The new cell phone is only 360 comments aways. We’ll tell all our friends to comment and you’ll be an on the way to making a great income 🙂

    I’m glad you took the time to write the piece. I have two little ones at home that I can help to learn about money and you have inspired me to make it a goal in a few years when they get old enough.

    P.S. Your Dad is always telling us about you, and I really enjoy hearing the (Jane 2.0 stories) Happy late Birthday young lady.


  • Stephanie PTY October 23, 2009, 10:26 am

    J2, you’re an excellent writer and I hope you keep up with it! You’ve got a good head on your shoulders and it will serve you well in your life.

    When I was your age, I wrote a newspaper and sold it in my town to make some money (I didn’t have an allowance). If you’re interested and your dad thinks it’s a good idea, I wrote a guide on how I did it: http://www.ehow.com/how_4751354_write-newspaper-kids-kids.html

    Your dad knows where to find me if you have any questions! I think you would write an excellent newspaper 🙂

  • Jesse October 23, 2009, 10:41 am

    Ha great idea Joe, and awesome post Jane2.0. You are quite the academic, everything spelt and punctuated properly. That’s more than some adults can pull off, even in the writing field. I read a book recently that got past the author and all the editors with quite a few grammatical errors!

    Anyway, you’re on the right track. The plan should be to continue to make money and be able to pay for the wants but forgo those that are frivolous and don’t add value to your life so you can save for the future.

  • Matt SF October 23, 2009, 9:53 am

    Hey J2… if you’re doing this well at 11, I’m betting that your parents will be very proud of you as get older. Certainly much better than I at age 11.

    Well done!

  • Financial Samurai October 23, 2009, 11:02 am

    Hey J2! Don’t listen to J at Budgets are Sexy! Dad might have a heart attack if you start talking J’s latest goals with the wife! 🙂

    Good luck in your money adventure. Most of all STUDY your heart out in High School because your grades start accumulating in the 9th grade.

    9th grade is really the start of your entire life. You can actually goof around until then, but once 9th grade hits, focus on getting the best grades you can, and be well rounded. Get some leadership rolls in sports or the arts because education and getting into a good school makes a big big difference if you don’t have super high connections.

    Who cares what the “cool kids” are doing. A lot of the cool kids from my HS are duds now.


    Financial Samurai

  • Mrs. Micah October 23, 2009, 10:05 am

    Nice to meet you, J2! One of the best things I remember about my teen years was that I was old enough to work, but still living at home and in highschool. So I could save some for the future and also save up for things I wanted because I didn’t have to live off it yet.

    I bought a violin and went to Europe (got some help on that, but paid for a lot of it). If you’re already working on saving for the things you want at 11, then you can do that too–only with whatever you want when you’re a teen. 🙂

  • nickel October 23, 2009, 10:26 am

    Just weighing in to make your Dad pony up another dollar. 🙂

    P.S. I have an eleven year old, too. Maybe I should get him to write something.

  • David @ Money Under 30 October 23, 2009, 10:36 am

    J2, congrats on your first blogging gig. Great job. Keep it up, and before you even start college you could have your own blogging business!

    Good luck saving up for that Tiffany jewelry. Let’s get a few more comments on here to help you get there!

  • Jason @ Redeeming Riches October 23, 2009, 10:43 am

    Nice job J2!

    Wow! Tiffany jewelry at age 11? Man, I hope my 2 year old daughter never grows up!! =)

    Keep up the writing!

    Joe, do you have a matching program where I get a dollar for the comment too? =)

  • Adrianne October 23, 2009, 2:24 pm

    So glad you are taking a proactive approach to understanding your needs and wants. I wish my parents had done this for me and my sisters when I was your age and younger! I’ve learned the hard way and sadly watching one sister (who is of course the youngest) think that her “needs” include spending all the money she earned teaching on a new computer and shiny accessories and didnt think to save ANY of it 🙁 So now she does rely on a parent to supply both her needs, like things for school and groceries with her wants – books, clothes, dates, fun with her friends. And she’s 20 years old. Here’s to you being far more grownup than the average 20 year old college student 🙂

  • Jane October 23, 2009, 2:25 pm

    You rock kiddo! Make sure dad pays up.

  • Skeemer118 October 23, 2009, 1:39 pm

    Count me in for another $1 🙂

  • mbhunter October 24, 2009, 11:11 pm

    Keep writing, Jane 2.0. That will serve you well.

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