1956 - A Lesson in Economics
Three-year-old Karen's weekly quarter allowance in Aberdeen, Maryland started out as pure freedom — until store visits stretched longer and longer as she hunted for something she could actually afford.
1956 - A Lesson in Economics. We were living in Aberdeen, Maryland, and our shopping facilities were quite limited, but in spite of that, Karen, who was 3 at that time, was experiencing the "I want this" attitude every time we went into a store. Finally, we decided it was time for her to begin to understand the value of money. We explained the purpose of an allowance and that she would be getting $0.25 per week. This was exciting for Karen because she could buy what she wanted. This worked fine for a few weeks, then the store visits became longer and longer as she tried to find something she could afford. It took a lot of explaining that if she waited a few weeks and saved her money she would have more choice. While we did accomplish teaching the value of money, the duration of the store visits were a challenge.
