WPC #7

Monday’s Word of the Day from Dictionary.com for our Weekly Photo Challenge is:

pin money \pin money\, noun:
1. An allowance of money given by a husband to his wife for private and personal expenditures.
2. Money for incidental expenses.
3. A trivial sum.

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This week’s word was a little odd in that it was both timely and inapplicable at the same time. A year ago we were treating our money and finances completely differently. Our monetary decisions were arrived at in a much less mature and wise way. And now we find ourselves at a point where we are faced with several seemingly pressing financial incidental expenses. Thankfully, we have set ourselves up and have matured in this area so we are in a much better spot to make these decisions. In the last year we have paid off over $10,000 in high interest debt, from medical (from 2 kids and 2 c-sections) and credit card (from making up for living expenses as we attempted to live beyond our means) and student loans. So when I see ‘Pin Money’ I see piles of mistakes, anxiety, despair which have been slowly sorted through and straightened out. Not that everything is shiny now, but we are at a point where we can look beyond trivial sums making or breaking it for the month and thankfully begin to plan and have better cushion. We have personal, business and kid’s savings. But I don’t primarily see this word as being applied to me, not that I do or don’t have spending money from my husband, but it is so much more profoundly applied to my kids. This week we opened Araiya a new account at a local credit union, transferring some of her savings from a lower interest account to one with a far more substantial yield. She will earn almost $100 on it by Fall in this account. Because it was a Youth Savings Account, she was given a set of 3 Piggy Banks (one for Saving, one for Spending and one for Sharing) and an account balance registrar. She eagerly played with them yesterday, asking me to show her how to use these items.

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So I have begun giving her pennies for saving in her banks. She will select how many she wants to allocate to each of the three categories. There is really a good grasp of the basic concepts- this box is to save, this box is to give away, that one is to get something with, then writing it down in the ‘checkbook’. She says she wants to buy herself some noodles at the store with her money. And share her gifting funds with the Church Community Group that meets at our house. Granted, it is more of a game where she carefully counts out each penny into the boxes, takes her pencil and just scribbles away on the pages and then shakes out the boxes so she can start all over again. I am proud that she is even at two keenly aware and earnest to take care of her money, regardless of how trivial the sum is. We are viewing it as a bit of redemption, that we are in a place and have learned so much that we can wisely pass on good habits and disciplines to our kids by showing them rather than just preaching the concepts. I told her also if she helps me around the house I will give her more change to save.

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I am interested to see what everyone else’s interpretations of this word are.

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~ by gdesign on April 17, 2008.

3 Responses to “WPC #7”

  1. Good Blog. I will continue reading it in the future. Nice layout too.

    Aaron Wakling

  2. Nice photos as usual. I was wondering how you were going ot approach it. You’ll have to wait on my take on things since my camera is out of batteries and I can’t find it’s charger. The point and shoot has batteries but we can’t find the card reader. Ah moving.

    Expect WPC 3-? plus pics of the house in progress as soon as chaos dies down….

  3. I loved your take on this week’s word!

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