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OpenStudy (lifeisadangerousgame):

I need help with writing a good hook for my essay?

OpenStudy (lifeisadangerousgame):

I need give this a strong hook: The decision to give a child allowance is up to their parents, but there are many benefits to giving a child an allowance. An allowance may seem like an easy way to get money every week, but this is not the case when the child must do things in order to get the allowance, things such as chores. By earning an allowance by doing chores, the child will understand the value of money and get an idea of how the real world works. The child also will develop budgeting skills when they save the money to buy a toy or product that cost more than their allowance allows as well as their shopping skills. Finally, it can also increase the level of maturity and help them become comfortable with being independent.

OpenStudy (lifeisadangerousgame):

I also need someone to look over my entire essay

OpenStudy (demonickittenlover):

how about "do you have an allowance? if not would you want one?" or "how old do you think you should be when you get an allowance?"

OpenStudy (lifeisadangerousgame):

I don't want to start with a question, unless I have to because I can't think of anything else

OpenStudy (demonickittenlover):

ooooo ok do you have any statistics?

OpenStudy (lifeisadangerousgame):

I do actually! let me find it

OpenStudy (demonickittenlover):

ok

OpenStudy (lifeisadangerousgame):

" In nearly 9 out of 10 families with kids getting allowances, the children do at least one hour of chores per week." http://business.time.com/2012/08/27/monkey-see-monkey-do-just-1-of-kids-save-any-allowance-money/

OpenStudy (lifeisadangerousgame):

"In the survey, just 1% of parents say their kids save any portion of their allowance."

OpenStudy (lifeisadangerousgame):

I could use that! :D

OpenStudy (demonickittenlover):

yep looks good to me!

OpenStudy (lifeisadangerousgame):

According to a survey by the AICPA, sixty-one percent of parents that pay their child allowance, fifty-four percent of which, started giving their child allowance at eight years old. Of those children,only around one percent saved their any part of their allowance. The decision to give a child allowance is up to their parents, but there are many benefits to giving a child an allowance. An allowance may seem like an easy way to get money every week, but this is not the case when the child must do things in order to get the allowance, things such as chores. By earning an allowance by doing chores, the child will understand the value of money and get an idea of how the real world works. The child also will develop budgeting skills when they save the money to buy a toy or product that cost more than their allowance allows as well as their shopping skills. Finally, it can also increase the level of maturity and help them become comfortable with being independent.

OpenStudy (demonickittenlover):

lovvvve it!

OpenStudy (lifeisadangerousgame):

awesome! Thank you! If its not too much trouble, could you review my whole paper?

OpenStudy (demonickittenlover):

of course

OpenStudy (lifeisadangerousgame):

Thank you again!

OpenStudy (demonickittenlover):

ill have to check it a little later if that's ok its lunch time :P

OpenStudy (lifeisadangerousgame):

It's okay!

OpenStudy (lifeisadangerousgame):

I updated it, so here's the newest version: According to a survey done by the American Institute of CPAs (AICPA), sixty-one percent of parents that pay their child allowance, fifty-four percent of which, started giving their child allowance at eight years old. Of those children, only around one percent saved their any part of their allowance. The decision to give a child allowance is up to their parents, but there are many benefits to giving a child an allowance. An allowance may seem like an easy way to get money every week, but this is not the case when the child must do chores or other jobs in order to earn the allowance. By earning an allowance by doing chores, the child will understand the value of money and get an idea of how the real world works. Likewise, the child could develop budgeting skills when they save the money to buy a toy or product that costs more than their allowance allows as well as their shopping skills. Finally, it can also increase the level of maturity and help them become comfortable with being independent. The way jobs work in today’s economy is the person does their job for a certain amount of hours every weekday and at the end of the week (sometimes two weeks), they get their paycheck. An allowance does not have to be very different from that. The child has to do a certain amount of chores (or hours) over the course of the week and at the end of the week, they get their allowance! The parent could have them log in how long it takes them to do each chore. Now, not only does the child have money in their pocket, but they are additionally beginning to grow their knowledge of the economy and workforce at a young age. When they earn their allowance, they acknowledge value of money that has been earned, rather than given. They become more aware of how much they are spending because it is now their hard-earned cash. This awareness, will shape their decision-making skills as they grow older. As the child starts to grasp the importance of the money that they earn, they begin understand the value of budgeting as well. For example, if the toy that they would like to buy costs twenty dollars, but unfortunately, they only get seven dollars and fifty cents once a week, they might choose to skip the toy store for three weeks rather than spending five dollars on a smaller toy every week. Likewise, as recognize of how hard they worked to earn their allowance increases (and maybe a hint of impatience too), they could search for another toy store which might have the same product, but for less. Thus effectively teaching them the common phrase, “More bang for your buck” and at the same time they are learning to be independent and mature with their money. At some point, every child wants to feel mature and independent. They become tired of depending on their parents for everything and asking for money can be a constant game of “Are-They-In-A-Good-Mood?” Sooner or later, that guessing game becomes tedious for both the child and the parents. On the other hand, with an allowance, they constantly know how much money they have, when they will acquire more money, and they decide when and what to spend their money on, thus preparing them for adulthood. All throughout adulthood, they must be alert as to where their money goes. Suddenly, a receipt is no longer just a slip of paper, but rather a significant document that they can use to keep track of how much they’re spending and where their money has gone. Together, these life lessons such as earning what they spend, how the economy works, the importance of money and budgeting, and independence and maturity will help the child later on in life. It is highly beneficial that a child learns these lessons at an early age as the morals learned will stay in the child’s mind into their adulthood. Upon reaching adulthood, they will already know how to budget and save what they earn for other things that cost more, find products they want for less, and they’ll be comfortable with being independent and relying on their own judgement. An allowance shapes a child’s comprehension of finance and the concepts they learn through acquiring an allowance will stay with them for a lifetime. Bibliography: 1. "A A A Print Print Page ShareThis Contact(s): Jonathan B. Cox 919.402.4499 Jcox@aicpa.org James Schiavone 212.596.6119 Jschiavone@aicpa.org AICPA Survey Reveals What Parents Pay Kids for Allowance, Grades." Http://www.aicpa.org. AICPA, 22 Aug. 2012. Web. 27 Sept. 2013. < http://www.aicpa.org/press/pressreleases/2012/pages/aicpa-survey-reveals-what-parents-pay-kids-for-allowance-grades.aspx >.

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