Allowances & Lottery Tickets

A survey last week reported on what parents pay their kids for an allowance: 1% pay $100 or more a week and 4% pay an allowance of $50 or more. That’s insane! The majority, however, pay $11 to $30 a week. Oh, and it isn’t an allowance. It should be called commission. It should be for doing things – kind of like the real world works when they’re adults: Pay for work. If you don’t teach them that, their first, second, third, and every employer will down the road!

There are a number of new economic reports from Europe and here in Canada that economic growth will be even slower than expected.  That comes with all kinds of bad news. However, the good news would be that low interest rates will be around for a while longer.

This week, California is rolling out a test at 100 gas stations in LA. You can now buy lottery tickets right at the pump with your credit or debit card. You’ve heard of pay at the pump? This is now play at the pump. It’s a win-win: Governments increase their revenues and the average very skinny American doesn’t have to burn up all those calories walking in…they can conserve energy right at the pump.

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