Monday, June 11, 2012

From Budgeting to Banking

I got a cute, little, interesting, note recently from the daughter. 

"Mom I was bored so I wrote you" she said.

I had no idea what to expect but I was delighted.

The note contained very interesting information and insight.

She said she missed what we had been trying to do with the money for toiletries and other things she needed each month.

She realized she had blown it and she wants a chance to try again.

"I am even willing to do the running total and receipt thing" she included.

The note just had that tinge of sincerity and realization. It was like after you lose a first job or apartment. 

Especially when you lose them because of your own senseless immature actions. It slowly sinks in where you went wrong and the changes that need to be made in the future.
At least that happens for some people. I know others sort of meander through jobs and living spaces a little more clueless.

This daughter of mine however is a smart cookie. I am proud of her. I have high hopes for her.

It is in this environment that she started talking about getting her first bank account. It easier and a little more complicated than she had imagined.

She started looking at the big well known institutions but I steered her away from them.

"You do not want to pay a monthly fee" I told her.
"Go small, go local, maybe look at credit unions."

She found one she likes and we made a visit to sit with a guy there and get the intricate details she needed.

Now we are just waiting for my summer disbursement. We are in a lean moment. 
Still reeling from the car bought in January. It wiped out my winter budget which messed with spring finances.

She knows all of this. As the child of a single parent she is privy to a lot of information. 
As I mentioned in yesterday's post sometimes I think that this in and of itself teaches lessons. I know it does but still there are things she simply has to experience to fully grasp.
So I am excited for her. I think she has learned her lessons and she is ready to move forward financially. Earlier this year she started seriously pushing me to let her get a job.

I do not know where the intensity came from. Part of it she said was to try and help me. So touching.

Never the less I told her it was a bit early. Indeed she began looking and what she is finding is that she needs to be at least 16.
Fall here we come and look out!


  1. Yay! I'm sorry for my response yesterday (this morning), by the way -- I reread it and realized how CROSS I sounded!

    1. No harm no foul. You did not come across as cross. All is well. Thanks!

  2. Yes thank you indeed. She makes me smile often.

  3. We went with a credit union too. I got burned at regular banks by sudden changes that made me owe fees where I hadn't owed any before. :-p I convinced the credit union not to charge my daughter $5 for opening an acct there. :-)

    It does sound like your daughter learned something from her experience handling money!

    1. I have a crazy big bank story on my other blog. Thankfully I have not been burned by one. I bank with a small local institution. The new credit union my daughter will join uses the fee as part of the mandatory savings account so she will get to keep it.

      Yes she is learning and growing nicely. I can't complain too much.