don’t call it a dollar if it’s not a goddamn dollar. that being said I hope to god I never have a kid but if I do I’m paying their allowance in Greek Drachma, let the little shit figure out how to spend a currency that hasn’t been in circulation since 2001
$100 used to go waaay further, it's not just inflation but rapidly rising cost of living. I live in Philly and entrees at most restaurants start at 15 dollars but usually closer to 20. If I wanted my kid to have a nice dinner and movie twice a month it'd be like $100 minimum.
real talk I've been watching NL for over 10 years and it's incredibly impressive and admirable how much he's grown and improved over the years despite already starting at the damn top. he's actually one of the funniest people of All Time
I didn't have an allowance, but I could always ask for money when I needed it. That made me think of purchases as "only when actually necessary" which I think made me fare pretty well in life so far.
Good for the first few years when you start buying stuff, but at some points it's good to give more independence imo. Allowing your kids to make small mistakes with their pocket money instead and learning from them. Better small mistakes early then learning stuff the hard way later in life.
@@PeerPressing That's how you get smart with money. You save your own and ask parents to pay for everything. It's best of both worlds, parents know you don't have enough money and kid can pay for things he wants like... drugs and shit :^)
My parents did the same. If they said no, they would just explain why buying it was not a good idea then either have me ask for something more reasonable, wait, or realize I don't need it. Most things you want, you already need your parents to drive you there or accompany you on the transit anyways. It's only around high school you go out with friends way more often, watch movies, buy things you want. Probably then you can give a small allowance so they can learn to save up, and just give more if they wanna go bowling or something.
I got to spend the money i saved on mostly whatever i wanted and my parents would buy me any necessary things. I guess it wouldnt have worked as well as it did if my family wasnt moderately well off but im glad it did.
My allowance as a kid was 1 of each coin a week (1 penny, 1 dime, 1 nickle, 1 quarter) I loved it, but I remeber buying a $30 board game in all change and the cashier did not think it was as cool as I did haha
It's so weird to me seeing people say that over a hundred dollars a month is a normal allowance. When I was a kid (I'm now 29) I got 10 pence per year of age per week - so about £6 a month when I was fifteen. This always seemed reasonable to me, I saved most of my money and almost never bought games new. And I came from a relatively well off family so it wasn't lack of means, I just never saw the need to spend money on new designer clothes or stuff like that. I'm not criticizing NL though, I get he's in a high cost of living area and times have moved on, it's just really weird to think that if I saved for a year i could buy a couple of games, if his daughter saves for a year she can buy a brand new decent spec PC
@@davidhayward2896 yeah, I think your amount is too low, you basically can't buy anything so no decisions to be made. Agree on buying the PC. I got enough to build my own PC from decent used parts in about a year, imo that's the sweet spot, I was able to save for something kinda cool and had to go about it in a somewhat difficult frugal way
Hormone abormalities happen. Had a kid in my class who had to take anti-growth hormones cause he was 6'4 at 14 years old. His parents were very average height
I really appreciate him planning to give his daughter a reasonable amount of allowance. I remember when i was twelve up till high school, whenever my friends went out to a cafe after school or went to a movie once in a while, i always had to apologize and back out, because my dad used up the money mom gave him to buy cigs. I went to my first and last concert when i was in high school. I lied and told my mom that my friends' parents would pay most of it for me. I started saving my lunch money to pay their mom back, my friend timidly told me that her mom said I should start paying back my loan because it's a matter of principle, I was so embarrassed. I starved and slept through lunch for half a year to pay back the money. I would come home hungry and sneak instant noodles into my bathroom to eat. We didn't have cup noodles either, it was just soaking instant noodles in lukewarm water in a bowl on top of my toilet bowl. I would get yelled at when I got caught trying to eat. But I didn't have any extra money to buy cup noodles which would be more convenient to hide and cook. I started to be left out of social activities because I haven't been hanging out with them after school or during holidays. I couldn't afford to buy little gifts for their birthdays either which definitely would've helped nurtured budding friendships. They also partly wouldn't invite me because they didn't want to embarass me, knowing I wouldn't be able to afford baked goods or movies outside of my school lunch.
That kind of thing really sticks with you for a while. I hope you're doing better now and can look back at that without feeling that pain. Best of luck to you! 😁
I feel that. My family technically made too much money for subsidized school lunches, but because of various debts we did not actually have the money to pay for school lunches, so I had a year in middle school where I basically just didn't eat lunch. I didn't have a social life at that time. Later I had a small allowance, enough to split the cost of a $5 pizza on the weekend with a couple similarly poor friends, and I felt lucky to have it. Still nowhere near enough to go to a movie, much less a concert.
Yeah, it's extremely alienating to be the poorest kid in your friend group. I felt much more comfortable associating with other low income kids. In hindsight, they weren't the best group to be hanging around.
This man is healing my generational trauma. My mind goes to terrible places with like drugs and stuff because i knew some who started young. But i think hell be attentive enough to help her
For people not in the know about Canada here are some costs that make $100 CAD seem less than it actually is. Lunch: $10-20, Dinner: $20-35 (also remember that Vancouver is the most expensive city to live in Canada). So more or less Luna gets to got out maybe once to twice a week. I know some people in chat had it hard, but as a kid who also grew up living not as well off as some I would love to give my child that kind of allowance.
"how much allowance will you give her? I don't know. I don't know how much a dollar really cost" gently grazing past another potential Curtis Blow rapping bit like two ships passing in the night
I honestly think if he laid it out weekly instead of monthly people wouldn’t have been so crazy about it. At least to me, $40 a month sounds like more than $10 a week. $100 bucks a month is like what the hell is a 12 year old gonna do with $100?! $25 a week is like, oh yea they can get a meal or something.
I think chat is more hung up on the idea that a 12 year old probably shouldnt be in charge of providing their own food. I always saw allowance as more of a "treat yourself" type of thing (admittedly i never got allowance so im not entirely sure) and for a kid a meal isnt really "treat yourself" material.
@@matcha_t what i meant was more in line with the last part of your comment. I see allowance as money given to kids so they can buy inessential things like games, snacks, etc. Parents should always provide the money to cover essential items like food, clothes (to an extent), and school supplies. Technically, yes the kids have to buy their own food at school, but i think that is still the responsibility of the parents to pay for directly, rather than giving their kid an allowance and saying "its up to you if you want to eat or save that money for a game". It was easier to do this at the schools i went to, since the schools just kept tabs on student lunch expenses on their student accounts instead of requiring the students to buy their lunch every day. This made it so that parents could give $100 to the school and their kids could just draw from that money every time they got some lunch. Once the students used all of the money, they would be notified that they need to add money to the account, and until then they were given "brown bag" lunches that were sacks of bare minimum nutrition (honestly i feel like this was kind of fucked up cuz it still cost money to buy but it would just put a spotlight of shame on the kids that couldnt afford to pay for lunch, but thats a whole other discussion). My point is just that kids shouldnt be expected to allocate their own, personal funds into essential expenses like food and shelter and whatnot, so using those expenses to explain a high allowance is a strange choice.
NL is talking allowance like he wouldn’t give his kid money if they were going to the movies. I didn’t get an allowance, but most of the time my parents were giving me money when I went out with friends. The rest I subsisted off birthday and holiday money from relatives
but i think it kinda goes back to what he was saying at the start about building that sense for budgeting, I think giving an allowance and having to make your kid budget it and see what happens when you overspend is better than just being a bank where they can withdraw as much as they need. obviously if the kid needs money for something use your discretion and maybe give them something extra but I think what NL saying makes sense
What do you think builds better money spending habits? Having a set amount of income monthly that you budget to your needs/wants (sounds familiar i hope), or just receiving funds whenever you want them?
@@KyleIsMega Agree but if you're 12 with $100 right now there isn't going to be any budgeting. When I was a kid my allowance was the cost of lunch at school every day. Now IDK if that was mega healthy because I would mostly skip lunch to save money, but I could (and sometimes did) pack my own lunch and pocket the rest, or skip lunch to save up for something that I wanted. If you give your kid that is fully provided for $100, they are just going to blow it on VBux and league skins and shit. Having less money is better in this case because it forces you to make decisions on what to do with your money. Frankly as an adult with $100/month petty cash you should never be seeing a movie or eating out, you should be saving for when you might lose your job for 6 months. If you only get $40/month you'll learn delayed gratification so much faster imo.
bold of him to assume movie theaters will exist in 15 years. all movies will release in subway surfers or fortnite so you can have something to do while you watch the movie
Paying kids to go to school and perform well makes sense. It's equivalent to being paid to do your job in the adult world. I honestly never considered something like that as my own parents did an allowance for house chores when I was first introduced to money as a child, and they considered that "work for pay" instead. It's an interesting way to look at it that I never considered before!
Rewarding good behaviour with money is a double-edged sword though, even if our entire society is constructed around that concept. When you are given an outside incentive to perform an action, that action becomes far less desirable once the incentive disappears. It is of course easier to make the kid do chores if you pay them, but it is generally better if you can make them do chores without payment, and just give them allowance separate from that. Otherwise it's likely that they'll stop doing chores when they move out. Besides, school should be a place of learning where mistakes shouldn't be feared. Tying allowance to something like grades creates a needless amount of performance anxiety and, again, devalues the learning itself.
Not everything should be treated like a job. I have always hated when everyone bases their entire life and job around how much money they can squeeze out of it. Obviously that is more of a problem with the system we live under than individuals.
School is the thing that's preparing you for a job. Getting money "for school" makes quite some sense, as school is kinda like a day job. Chores however, are really something one does because it's good for yourself and your housemates.
My friend's kid (14) gets £25 a week and they're kinda *just* vibing with the cash despite being pretty frugal but at the same time this is the UK where costs are a bit psycho.
IMO in the current economy, $20 a week is a reasonable allowance for a 12 year old, assuming that they're eating the majority of lunch via school/what their parents give them. that's enough to eat out for lunch maybe 1-2 times a week or for other activites with friend,. it's also enough money that if they saved most of it for a month, they could buy a videogame. i loved this comment in chat at 5:46 "take her out to eat and when the check comes you go 'oh woops daddy forgot his wallet' and make her use her allowance STONKS edit1: his financial rant/going off about GIC's is hilarious!
When I was a teenager I'd ask my dad for 15 bucks every friday so I could buy a pizza and a 2L coca cola, and everybody said I was asking too much too often and wasting the money I got. Clearly there's something very different going on in america
I also mostly spent my allowance each week on pizza and a 2L soda, but it was $5, so I was splitting a $5 pizza from Little Caesars with a friend and then going next door to Dollar General to buy off brand soda.
At 10-12 years old, I’d probably not do a monthly/weekly allowance, but more like give her enough money for what she wants to do. If it’s “can I get this video game?” Then it’s “alright but this is all you get this month! You sure this is what you want to spend it on?” But after 12 a weekly 10-15$ so that they can learn to save and spend wisely makes sense
I really don't see the advantage of this over an allowance? A 12 yo should definitely be able to come to grips with getting some independence and understanding how money works. Imo, it's best to start with an allowance of like 5 dollars a week, and then every couple of years you can gradually raise it.
Chat being extremely jealous of a child is just too much😭😭 1440 a year is a great number they can invest and save and donate all things I imagine nl will teach his kid, sucks if u don’t make enough to do that but why would u deprive a child just because that was ur childhood 80% of chat will traumatize their kids
@@phil-jc8hp I literally already acknowledged that u just chose to ignore it if you live within your means in an average area u should easily be able to swing 120😭just say ur financially irresponsible, why do u I sit on shifting the goal post nl can afford this
Hard pref 1k in a fund per year and then like $480/year. $480 sounds p good, that's like if you save up for a year you can buy a console or new graphics card or something, 1,440 is wild, I lived off $200 a month in college, no 12 y/o needs that much spending cash, you're more likely to introduce bad spending habits IMO.
@@GEM4sta no one cares about ur imo it’s his kid why do u assume he’s not gonna force her to allocate portions of her money, the point is to teach her how it works so why would he just cut her lose living on $200 while taking out massive student loans to cover food and room isn’t very financially smart so not sure u should be giving ur advice to nl doesn’t sound like you can afford it
He's really spot on here. A child that grows up having their parents handle all of their purchases will teach them to be financially dependent. Summer jobs are huge too, but certainly not a job that takes away their summer freedom.
My Dad would give me an allowance directly equal to my age, this would include the percentage of the way to the next age as cents (for example if I was 10 and exactly half way to the next age I would get 10.50) as long as I could exactly calculate how much I should earn each week.
I have always lived with my father, he didn't use to get paid a lot but he would buy me food to have for lunch at school and give me £10 a week, We weren't poor but he was making something like 25k (not absolutely terrible for the time), and that £10 was pretty good, so accounting for the fact that shit is so much more expensive now (especially cheap stuff that children/teenagers like to buy) 125 dollars seems ok. and honestly it's not my money, give her 1k it's none of my business.
I agree with probably 80 CAD a month in 20 CAD weekly intervals to make sure she learns saving instead of blowing it on small stuff. I would probably stipulate chores and GPA requirements to make sure feels like she is actually working for it with bonuses for semester achievements.
Schoolmaxxing is real. Older sister has an age gap from me of about 10 years. Her only advice for college for me was just live taking the bare minimum but absolutely spend every second of the day school maxxing while on student loans. Life changing advice honestly. Why go to a paid school in the first place if you’re not going to get everything out of it.
"We still talk about it today, so it was worth it" I know he was just talking about throwing Malf's burger or whatever but imagine if someone said this about something traumatic they did to a friend, relative or their child.
I think giving your kid an allowance is good if you use it as an alternative to buying them anything they beg for. Even when kids use their allowance to buy "stupid" things like video games or expensive toys, that's still teaching them to save their money for something they really want rather than immediately spending it the second they get it.
Being short is very good in Martial Arts like wrestling in a Jiu Jitsu. Your center of mass is much better, so it's harder to flip or move you, and you can get under and inside of people really well also.
I never had an allowance but that was only because I was somehow born with the soul of a Great Depression farmer and am unreasonably cheap and spartanly to the point where my relatives would literally beg me to think of something I wanted for my birthday or the holidays. But assuming your child is normal and you have the money it's needlessly stingy and unproductive to not do what NL is planning to do. Suffering isn't a virtue it's just suffering.
i used to get $10 a week allowance as a preteen/teen and IMO it was very good for teaching my financial responsibility. after i broke my tablet, i saved up enough to buy myself a new one, while still in middle school. after getting my first job, i saved up enough to buy my own laptop for college. currently saving up to pay my rent for the school year & buy a car. had a conversation with my coworker who started at the same time as me (and has been working longer since i was not at this job while in college, only worked a little bit up there) and i have a lot more saved than him and imo i owe that to my parents giving me an allowance. accounting for the current state of the economy, the egg has some good plans
in addition to this, i was only allowed to get a job as a senior in high school (although covid played a role in that). as a senior i had less classes and more free time, needed to start saving (although starting earlier would've been helpful for college lol), and had already proven myself with good grades while doing extracurriculars. also was able to stand up for myself and be responsible. this man is definitely a wonderful father, he's got great points here
My dad would give me an allowance for purchasing food at school, and he always said "I'm not giving you more, so don't spend it on stupid shit or you'll have to skip lunches". Needless to say, it taught me not to spend it on useless shit and save it up to buy lunch
As a kid I spent over a year saving up for a DS and then realized that I couldn’t event get a game with it. After that I started child labouring really hard and honestly wasted so much of my childhood
That would have the opposite effect. You start out with more money than you know what to do with and once you run out, you can't buy anything for an entire month. By the time you get money again, you already have a bunch of things you've decided to buy "once I get money again". Weekly allowance is better since you don't have a lot of time to let things pile up before your next "paycheck".
I remember that my allowance was basically a video game a month from middle school to high school. I'm not exactly a window shopper type of person (on the rare occasions I actually went outside), so having money was a bit pointless. We also got paid to do extra chores around the house when the rare large purchase was desired.
I got 5 bucks a week, which was closer to 2 1/2 months for a new game if I didn't buy anything else, so I mostly got my games at a local used game store. We were like borderline in poverty though, so even that seemed pretty good to me.
I wish i was ryans kid. I did chores and yardwork, and i got nothing. I had to get a part-time job after school to get some pocket change. I was born in 1998.
Honestly, fair. I grew up in the middle of nowhere, no ability to drive, and only got money for birthdays and christmas. I probably rolled 300-400 dollars a year most times, and I very rarely purchased anything, with the times I did I was super careful with value. I think it's not a bad idea to be short on money because it keeps one conscious about spending habits, but I don't think being so scarce so as to be incapable of doing anything is better.
We got roughly 0.1*age dollars a week with a static bonus for keeping high grades.. Which was more back then. But what I really want to mention is the savings encouraging deals they made with us. If we saved that money to a proper large investment, usually so large we required pooling. They'd pay half. My point isn't that this is a good system but it's built up an extreme spending aversion in all of us. Sample size 5. If you do this also teach your children about investing, compensated risk, idiosyncratic risk and inflation. Or they'll buy pizza with their bitcoin for the novelty of it.
Yeah chat is missing the conversion rate. To be honest I would give my kid 5 euros a week from a certain age, with the possibikity of doing chores for extra
I think there is some new studies showing that paying for grades and chores actually resulted in bad long term behavior because they stop when they aren't getting paid and perform worse than before
my allowance maxed out at a dollar if I did extra chores during the month, at middle school age in the 00s, totally useless and I never bothered No point
Maybe I'm fucked up, but I was given a small allowance PLUS my lunch money. I had the choice to save money to buy videogames. Now my credit score is maxed out and banks beg to to get a credit for a house like it's 2005.
I only made enough allowance that I had to save up for an entire year to get a video game usually, while I am a little jealous of those that could get more, it did mean the games I did get I cherished and were very special experiences.
For me I’ve always had parents who had a good job. In high school I worked about 16 hours a week in the baseball offseason but this was always assumed I was doing well in school and I didn’t really need to work more Becusee my parents wanted me to focus on school as well as spending time with friends cuz it was time I’d never be back. My junior year I got a girlfriend and they assumed I’d pay for most stuff for her so that’s when I got my job at a golf course and worked a bit. During baseball season all I did was school and baseball. Even in college they helped me out a lot again assuming I was focusing on class so I didn’t have to balance class working and spending time with friends. If I didn’t hold their standards they wouldn’t have helped me out as much as they did
If you want a safe stock you can buy stocks in agriculture and/or some types of transport stocks. People will laugh at how safe you are being by investing here though. Telecommunication stocks should still be good for the next while then they might tail off. If you want to be cool (poor) forget crypto and invest in Chinese companies instead. If you're lucky the entire thing is just gambling on who will get a state contract next. Also don't just invest in one thing, if you're making good choices with investing then the more places you invest in the higher chance you make a profit. Those were my Dad's tips he told me. Oh also for the love of god if your country has high stock broker tax rate (or whatever it's called) then make sure you set up your investments using someone's identity that doesn't make a ton of money already. My Dad set it up on my Mum's account because it was easier and he lost 4 grand because my Mum made a lot of money as a nurse that year while Iinet's stock price absolutely surged. All of this meant my Mum officially made 105kish that year and 10kish of that was from stocks. In Australia people making over 100k a year have a 75 percent tax on their stocks so the last 5kish was taxed 75 percent. Meanwhile my Dad was half retired half unemployed only making money from benefits and stocks.
I felt pretty spoiled as a kid but my mom drip fed me cash bro it was like 5$ a month n she just made me put it all in a savings account that went up like 3 cents 😭
i also didnt get any allowance as a kid or any parental guidance on finance for that matter and when i turned 18 i fucked everything, so take from that what you will
My parents made me work doing minor chores like mowing the lawn or washing the car for like $5-$10. When I was like 5, I washed the car like 20 times in one year to save up for a gamecube. Honestly, as much as I hated that as a kid, I think it was a good system.
I swear all the people saying $10 a month are the same sorta people that don't like student loan forgiveness because they've already paid for theirs. People just want to punish others to the point they go through the same bullshit they did.
Chat thinks he’s overpaying, but they don’t realize he’s planning to pay her in Canadian dollars.
Mf like me would pay in pesos
I didn’t know allowances was such a contentious issue
Also he’s paying in CAD, fucking US chat think they are the center of the world ICANT
don’t call it a dollar if it’s not a goddamn dollar. that being said I hope to god I never have a kid but if I do I’m paying their allowance in Greek Drachma, let the little shit figure out how to spend a currency that hasn’t been in circulation since 2001
@@coledorillo6685unfortunately for everyone else’s sake they’re right
@@coledorillo6685world reserve currency is pretty close to the center of the world imo
All this time I thought he was pro child labor
He might throw his best friends burger on the ground but he's not a monster
they yearn for the mines!
he is, but not for his own child
When he first said $100 I thought it sounded crazy. But he was right, my inner child was just super jealous at first.
NL is probably pretty rich by now too.
at 10 year old I would buy 100$ worth of candy every month tbh
$100 used to go waaay further, it's not just inflation but rapidly rising cost of living. I live in Philly and entrees at most restaurants start at 15 dollars but usually closer to 20. If I wanted my kid to have a nice dinner and movie twice a month it'd be like $100 minimum.
if i was NL's kid I would just start streaming at 13 yo and farm subs. The timeslot after k8's stream is free.
I'm joking!
i actually thought the same thing, it would be so easy for her to just expose some behind the scenes NL moments for +2s and subs
Couple more kids and we could get a 24 hour rotation going
@@warr5250 Letourneau Franchise. Make sure to check the Letodeck for conglomerated stream schedules. Jojor Well
@@warr5250the true super show
Luna finally receiving royalties for the Dad arc, thank god for the writers strike
real talk I've been watching NL for over 10 years and it's incredibly impressive and admirable how much he's grown and improved over the years despite already starting at the damn top. he's actually one of the funniest people of All Time
Bald tho :(
@@OGSumo I stand in solidarity with him as a fellow member of the bald brethren
@@Bikonito they cannot keep our people down brother
yeah •ᴗ•
@@litapd311 your heads are too smooth and slippery, holding you down is physically difficult
I didn't have an allowance, but I could always ask for money when I needed it. That made me think of purchases as "only when actually necessary" which I think made me fare pretty well in life so far.
Good for the first few years when you start buying stuff, but at some points it's good to give more independence imo. Allowing your kids to make small mistakes with their pocket money instead and learning from them. Better small mistakes early then learning stuff the hard way later in life.
@@PeerPressing That's how you get smart with money. You save your own and ask parents to pay for everything. It's best of both worlds, parents know you don't have enough money and kid can pay for things he wants like... drugs and shit :^)
My parents did the same. If they said no, they would just explain why buying it was not a good idea then either have me ask for something more reasonable, wait, or realize I don't need it. Most things you want, you already need your parents to drive you there or accompany you on the transit anyways. It's only around high school you go out with friends way more often, watch movies, buy things you want. Probably then you can give a small allowance so they can learn to save up, and just give more if they wanna go bowling or something.
So it made you cheap kekw
I got to spend the money i saved on mostly whatever i wanted and my parents would buy me any necessary things. I guess it wouldnt have worked as well as it did if my family wasnt moderately well off but im glad it did.
My allowance as a kid was 1 of each coin a week (1 penny, 1 dime, 1 nickle, 1 quarter) I loved it, but I remeber buying a $30 board game in all change and the cashier did not think it was as cool as I did haha
Goated allowance ideas from 1965
@@goclbert1 dogecoin, 0.0001 eth, and 0.00001 btc
It's so weird to me seeing people say that over a hundred dollars a month is a normal allowance. When I was a kid (I'm now 29) I got 10 pence per year of age per week - so about £6 a month when I was fifteen. This always seemed reasonable to me, I saved most of my money and almost never bought games new. And I came from a relatively well off family so it wasn't lack of means, I just never saw the need to spend money on new designer clothes or stuff like that.
I'm not criticizing NL though, I get he's in a high cost of living area and times have moved on, it's just really weird to think that if I saved for a year i could buy a couple of games, if his daughter saves for a year she can buy a brand new decent spec PC
@@davidhayward2896 yeah, I think your amount is too low, you basically can't buy anything so no decisions to be made. Agree on buying the PC. I got enough to build my own PC from decent used parts in about a year, imo that's the sweet spot, I was able to save for something kinda cool and had to go about it in a somewhat difficult frugal way
@@davidhayward2896 mate. Have you seen the inflation rates since 2009? You can’t buy jack shit with 6 pound nowadays.
NL is such a based Dad, all my parents gave me is enough trauma for therapy once a week not feel enough
Unfortunately relatable
true
Fastforward 20 years and Luna being a star WNBA player having them play this video on the screen.
It's going to be super weird for her, having a catalogue of years of her dad talking about her.
@@godlyvex5543 and people talking about her. And people talking about him talking about her.
Hormone abormalities happen. Had a kid in my class who had to take anti-growth hormones cause he was 6'4 at 14 years old.
His parents were very average height
How great is it to watch 8000 childless people try to teach a financially savvy father how reasonable an allowance is?
I really appreciate him planning to give his daughter a reasonable amount of allowance. I remember when i was twelve up till high school, whenever my friends went out to a cafe after school or went to a movie once in a while, i always had to apologize and back out, because my dad used up the money mom gave him to buy cigs.
I went to my first and last concert when i was in high school. I lied and told my mom that my friends' parents would pay most of it for me. I started saving my lunch money to pay their mom back, my friend timidly told me that her mom said I should start paying back my loan because it's a matter of principle, I was so embarrassed. I starved and slept through lunch for half a year to pay back the money.
I would come home hungry and sneak instant noodles into my bathroom to eat. We didn't have cup noodles either, it was just soaking instant noodles in lukewarm water in a bowl on top of my toilet bowl.
I would get yelled at when I got caught trying to eat. But I didn't have any extra money to buy cup noodles which would be more convenient to hide and cook.
I started to be left out of social activities because I haven't been hanging out with them after school or during holidays. I couldn't afford to buy little gifts for their birthdays either which definitely would've helped nurtured budding friendships.
They also partly wouldn't invite me because they didn't want to embarass me, knowing I wouldn't be able to afford baked goods or movies outside of my school lunch.
man that breaks my heart, sorry u had to go through that man ❤ hope u are doing ok now
ps hope ur dad doesn't stay pegged
That kind of thing really sticks with you for a while. I hope you're doing better now and can look back at that without feeling that pain. Best of luck to you! 😁
I feel that. My family technically made too much money for subsidized school lunches, but because of various debts we did not actually have the money to pay for school lunches, so I had a year in middle school where I basically just didn't eat lunch. I didn't have a social life at that time. Later I had a small allowance, enough to split the cost of a $5 pizza on the weekend with a couple similarly poor friends, and I felt lucky to have it. Still nowhere near enough to go to a movie, much less a concert.
Yeah, it's extremely alienating to be the poorest kid in your friend group. I felt much more comfortable associating with other low income kids. In hindsight, they weren't the best group to be hanging around.
14:09 "hey drop a fry?"
This is why I love you adding chat to your videos, they always take me back to the ancient bits.
This man is healing my generational trauma. My mind goes to terrible places with like drugs and stuff because i knew some who started young. But i think hell be attentive enough to help her
Granted my dad would give me $20 every week and a half for school lunch, and I ended up skipping lunch to save money for weed.
Smart thumbnail as always Librarian
For people not in the know about Canada here are some costs that make $100 CAD seem less than it actually is. Lunch: $10-20, Dinner: $20-35 (also remember that Vancouver is the most expensive city to live in Canada). So more or less Luna gets to got out maybe once to twice a week. I know some people in chat had it hard, but as a kid who also grew up living not as well off as some I would love to give my child that kind of allowance.
A 12 year old isn't buying their own meals though.
@@woutertronThey might if they go out w/ friends, especially if they live in a city & not car centric suburban hell
"how much allowance will you give her? I don't know. I don't know how much a dollar really cost"
gently grazing past another potential Curtis Blow rapping bit like two ships passing in the night
That's also a Kendrick song "How Much a Dollar Cost"
I honestly think if he laid it out weekly instead of monthly people wouldn’t have been so crazy about it. At least to me, $40 a month sounds like more than $10 a week. $100 bucks a month is like what the hell is a 12 year old gonna do with $100?! $25 a week is like, oh yea they can get a meal or something.
Chat is notoriously bad at doing the math
I think chat is more hung up on the idea that a 12 year old probably shouldnt be in charge of providing their own food. I always saw allowance as more of a "treat yourself" type of thing (admittedly i never got allowance so im not entirely sure) and for a kid a meal isnt really "treat yourself" material.
@@matcha_t what i meant was more in line with the last part of your comment. I see allowance as money given to kids so they can buy inessential things like games, snacks, etc. Parents should always provide the money to cover essential items like food, clothes (to an extent), and school supplies. Technically, yes the kids have to buy their own food at school, but i think that is still the responsibility of the parents to pay for directly, rather than giving their kid an allowance and saying "its up to you if you want to eat or save that money for a game".
It was easier to do this at the schools i went to, since the schools just kept tabs on student lunch expenses on their student accounts instead of requiring the students to buy their lunch every day. This made it so that parents could give $100 to the school and their kids could just draw from that money every time they got some lunch. Once the students used all of the money, they would be notified that they need to add money to the account, and until then they were given "brown bag" lunches that were sacks of bare minimum nutrition (honestly i feel like this was kind of fucked up cuz it still cost money to buy but it would just put a spotlight of shame on the kids that couldnt afford to pay for lunch, but thats a whole other discussion).
My point is just that kids shouldnt be expected to allocate their own, personal funds into essential expenses like food and shelter and whatnot, so using those expenses to explain a high allowance is a strange choice.
When I was 12 I had to pay if I went out w/ friends. My parents paid for my food @ home, but going out it was on me
Most of us here didn't get an allowance, but the egg is onto something good
NL is talking allowance like he wouldn’t give his kid money if they were going to the movies. I didn’t get an allowance, but most of the time my parents were giving me money when I went out with friends. The rest I subsisted off birthday and holiday money from relatives
same exact situation
but i think it kinda goes back to what he was saying at the start about building that sense for budgeting, I think giving an allowance and having to make your kid budget it and see what happens when you overspend is better than just being a bank where they can withdraw as much as they need. obviously if the kid needs money for something use your discretion and maybe give them something extra but I think what NL saying makes sense
What do you think builds better money spending habits? Having a set amount of income monthly that you budget to your needs/wants (sounds familiar i hope), or just receiving funds whenever you want them?
@@KyleIsMega Agree but if you're 12 with $100 right now there isn't going to be any budgeting. When I was a kid my allowance was the cost of lunch at school every day. Now IDK if that was mega healthy because I would mostly skip lunch to save money, but I could (and sometimes did) pack my own lunch and pocket the rest, or skip lunch to save up for something that I wanted. If you give your kid that is fully provided for $100, they are just going to blow it on VBux and league skins and shit. Having less money is better in this case because it forces you to make decisions on what to do with your money. Frankly as an adult with $100/month petty cash you should never be seeing a movie or eating out, you should be saving for when you might lose your job for 6 months. If you only get $40/month you'll learn delayed gratification so much faster imo.
Yeah he's talking about what hes planning to do, what's your point though?
omg NL was the "just a prank bro" guy
I hope it’s been said before but I love the cozy outro song bits, like getting tucked into bed after a day a long day of pogging. Thank you Librarian
I’m STARTLED at the macroeconomic perspective the egg carries whilst SAPing
+2
bold of him to assume movie theaters will exist in 15 years. all movies will release in subway surfers or fortnite so you can have something to do while you watch the movie
Shaq bought his son a Lamborghini and a Jeep for his sons 16th birthday. Chatters getting away with too much these days. A retroactive ban is in order
Paying kids to go to school and perform well makes sense. It's equivalent to being paid to do your job in the adult world.
I honestly never considered something like that as my own parents did an allowance for house chores when I was first introduced to money as a child, and they considered that "work for pay" instead. It's an interesting way to look at it that I never considered before!
Rewarding good behaviour with money is a double-edged sword though, even if our entire society is constructed around that concept. When you are given an outside incentive to perform an action, that action becomes far less desirable once the incentive disappears.
It is of course easier to make the kid do chores if you pay them, but it is generally better if you can make them do chores without payment, and just give them allowance separate from that. Otherwise it's likely that they'll stop doing chores when they move out.
Besides, school should be a place of learning where mistakes shouldn't be feared. Tying allowance to something like grades creates a needless amount of performance anxiety and, again, devalues the learning itself.
If I were paid based on my performance at school I would've tried.
Not everything should be treated like a job. I have always hated when everyone bases their entire life and job around how much money they can squeeze out of it. Obviously that is more of a problem with the system we live under than individuals.
School is the thing that's preparing you for a job. Getting money "for school" makes quite some sense, as school is kinda like a day job. Chores however, are really something one does because it's good for yourself and your housemates.
@@jankbunky4279 I have always been a firm believer than the only thing school prepared you for is social interactions.
If you don't give them enough allowance, they'll just use their lunch money to buy shirts with crazy weird patterns on them.
He’s trying to raise a movie nerd so hard
It’s rare when nl is so right and chat is so wrong
That top light isnt doing NL any favors
Yeah I think he's actually bald
“I allow you live under my roof.” gang rise up
His house his rules
NTA if the baby wants a bugatti she has to work to maintain it
Im allowing you to live in the retirement home
@helpusobi1 " if he wants be beat his wife let em, his house his rules" mentality
Let's Fucking Go
Does anyone else feel like Luna has been two for like 4 years now?
My daughter is only a few months younger than Luna, so to me it just feels like a window into my near future.
My friend's kid (14) gets £25 a week and they're kinda *just* vibing with the cash despite being pretty frugal
but at the same time this is the UK where costs are a bit psycho.
Man I used to get 17,50 euro a month! That was just 5 years ago
IMO in the current economy, $20 a week is a reasonable allowance for a 12 year old, assuming that they're eating the majority of lunch via school/what their parents give them. that's enough to eat out for lunch maybe 1-2 times a week or for other activites with friend,. it's also enough money that if they saved most of it for a month, they could buy a videogame.
i loved this comment in chat at 5:46
"take her out to eat and when the check comes you go 'oh woops daddy forgot his wallet' and make her use her allowance
STONKS
edit1: his financial rant/going off about GIC's is hilarious!
I got like $100 on birthdays and Christmas, lmao it was so joever for me.
I got 50 on my birthday 💀
i love the escalating self report at the end
When I was a teenager I'd ask my dad for 15 bucks every friday so I could buy a pizza and a 2L coca cola, and everybody said I was asking too much too often and wasting the money I got. Clearly there's something very different going on in america
Similar but pocket the $15 every week and buy hey you Pikachu or some shit after a month
I also mostly spent my allowance each week on pizza and a 2L soda, but it was $5, so I was splitting a $5 pizza from Little Caesars with a friend and then going next door to Dollar General to buy off brand soda.
"I'll just give her a gun" is the most insane thing I've ever heard NL say and I'm here for it.
NL is one of the few people to make compound interest rates funny
NL going off on financial rants is one of my favourite genres
At 10-12 years old, I’d probably not do a monthly/weekly allowance, but more like give her enough money for what she wants to do. If it’s “can I get this video game?” Then it’s “alright but this is all you get this month! You sure this is what you want to spend it on?” But after 12 a weekly 10-15$ so that they can learn to save and spend wisely makes sense
I really don't see the advantage of this over an allowance? A 12 yo should definitely be able to come to grips with getting some independence and understanding how money works. Imo, it's best to start with an allowance of like 5 dollars a week, and then every couple of years you can gradually raise it.
Chat being extremely jealous of a child is just too much😭😭 1440 a year is a great number they can invest and save and donate all things I imagine nl will teach his kid, sucks if u don’t make enough to do that but why would u deprive a child just because that was ur childhood 80% of chat will traumatize their kids
Yes but a you also have to acknowledge that not everybody an afford that and allowances are not only decided by parental values
@@phil-jc8hp I literally already acknowledged that u just chose to ignore it if you live within your means in an average area u should easily be able to swing 120😭just say ur financially irresponsible, why do u I sit on shifting the goal post nl can afford this
@@derekpapin2181 W original post. L response. could have handled that way better without looking like an asshole.
Hard pref 1k in a fund per year and then like $480/year. $480 sounds p good, that's like if you save up for a year you can buy a console or new graphics card or something, 1,440 is wild, I lived off $200 a month in college, no 12 y/o needs that much spending cash, you're more likely to introduce bad spending habits IMO.
@@GEM4sta no one cares about ur imo it’s his kid why do u assume he’s not gonna force her to allocate portions of her money, the point is to teach her how it works so why would he just cut her lose living on $200 while taking out massive student loans to cover food and room isn’t very financially smart so not sure u should be giving ur advice to nl doesn’t sound like you can afford it
Luna Letourneau is a sick ass name
He's really spot on here. A child that grows up having their parents handle all of their purchases will teach them to be financially dependent. Summer jobs are huge too, but certainly not a job that takes away their summer freedom.
My Dad would give me an allowance directly equal to my age, this would include the percentage of the way to the next age as cents (for example if I was 10 and exactly half way to the next age I would get 10.50) as long as I could exactly calculate how much I should earn each week.
1.5 video games a month for a 12 year old’s allowance is such a good take
I have always lived with my father, he didn't use to get paid a lot but he would buy me food to have for lunch at school and give me £10 a week, We weren't poor but he was making something like 25k (not absolutely terrible for the time), and that £10 was pretty good, so accounting for the fact that shit is so much more expensive now (especially cheap stuff that children/teenagers like to buy) 125 dollars seems ok. and honestly it's not my money, give her 1k it's none of my business.
I agree with probably 80 CAD a month in 20 CAD weekly intervals to make sure she learns saving instead of blowing it on small stuff. I would probably stipulate chores and GPA requirements to make sure feels like she is actually working for it with bonuses for semester achievements.
Schoolmaxxing is real. Older sister has an age gap from me of about 10 years. Her only advice for college for me was just live taking the bare minimum but absolutely spend every second of the day school maxxing while on student loans.
Life changing advice honestly. Why go to a paid school in the first place if you’re not going to get everything out of it.
"We still talk about it today, so it was worth it" I know he was just talking about throwing Malf's burger or whatever but imagine if someone said this about something traumatic they did to a friend, relative or their child.
I think giving your kid an allowance is good if you use it as an alternative to buying them anything they beg for. Even when kids use their allowance to buy "stupid" things like video games or expensive toys, that's still teaching them to save their money for something they really want rather than immediately spending it the second they get it.
10:10 powerlifting. Being shorter is actually good because the weight has to travel less distance from the ground
GPA^GPA dollars a month, calculated at the end of each month.
New house NL with the fresh lighting and the arm over the chair back is kinda doing smth for me ngl 6:38
The max allowance I got was 15€, most of the elementary school I got enough to buy a hotdog every 2 weeks
Being short is very good in Martial Arts like wrestling in a Jiu Jitsu. Your center of mass is much better, so it's harder to flip or move you, and you can get under and inside of people really well also.
I’m going pog crazy for these outros
Luna's allowance, sponsored by Mad Dog Nation
I thought the detention story was a one time incident but turns out NL has a whole history of throwing food away to troll people
"You know what I mean?" No bald man. I never do
I never had an allowance but that was only because I was somehow born with the soul of a Great Depression farmer and am unreasonably cheap and spartanly to the point where my relatives would literally beg me to think of something I wanted for my birthday or the holidays. But assuming your child is normal and you have the money it's needlessly stingy and unproductive to not do what NL is planning to do. Suffering isn't a virtue it's just suffering.
As a vancouverite $120 a month is reasonable I completely agree with NL here. I think chat forgets where he’s living lmao
i used to get $10 a week allowance as a preteen/teen and IMO it was very good for teaching my financial responsibility. after i broke my tablet, i saved up enough to buy myself a new one, while still in middle school. after getting my first job, i saved up enough to buy my own laptop for college. currently saving up to pay my rent for the school year & buy a car. had a conversation with my coworker who started at the same time as me (and has been working longer since i was not at this job while in college, only worked a little bit up there) and i have a lot more saved than him and imo i owe that to my parents giving me an allowance. accounting for the current state of the economy, the egg has some good plans
in addition to this, i was only allowed to get a job as a senior in high school (although covid played a role in that). as a senior i had less classes and more free time, needed to start saving (although starting earlier would've been helpful for college lol), and had already proven myself with good grades while doing extracurriculars. also was able to stand up for myself and be responsible. this man is definitely a wonderful father, he's got great points here
My parents had me do chores in exchange for money as my allowance.
My dad would give me an allowance for purchasing food at school, and he always said "I'm not giving you more, so don't spend it on stupid shit or you'll have to skip lunches". Needless to say, it taught me not to spend it on useless shit and save it up to buy lunch
As a kid I spent over a year saving up for a DS and then realized that I couldn’t event get a game with it. After that I started child labouring really hard and honestly wasted so much of my childhood
"my kid gets an allowance cause she neva had the makings of a varsity athlete."
You ever think about how no one gives an allowance every 2 months to discourage paycheck to paycheck spending?
That would have the opposite effect. You start out with more money than you know what to do with and once you run out, you can't buy anything for an entire month. By the time you get money again, you already have a bunch of things you've decided to buy "once I get money again".
Weekly allowance is better since you don't have a lot of time to let things pile up before your next "paycheck".
My "monthly allowance" was my $5 Runescape membership on my parent's card lmao. I was more than happy with that though.
Okay, no matter what your name or social status is, 1000$ a week for mobile games is just the worst case of P2W syndrome
I remember that my allowance was basically a video game a month from middle school to high school. I'm not exactly a window shopper type of person (on the rare occasions I actually went outside), so having money was a bit pointless. We also got paid to do extra chores around the house when the rare large purchase was desired.
I got 5 bucks a week, which was closer to 2 1/2 months for a new game if I didn't buy anything else, so I mostly got my games at a local used game store. We were like borderline in poverty though, so even that seemed pretty good to me.
What the heck is the song he sings in the end credits? I can't find it to save my life
Sufjan Stevens - The Man of Metropolis Steals Our Hearts
Either let her live on subsistence farming or $1200 a week. No in-between.
The concept of an allowance at all is insanity.
I wish i was ryans kid. I did chores and yardwork, and i got nothing. I had to get a part-time job after school to get some pocket change. I was born in 1998.
Honestly, fair. I grew up in the middle of nowhere, no ability to drive, and only got money for birthdays and christmas. I probably rolled 300-400 dollars a year most times, and I very rarely purchased anything, with the times I did I was super careful with value. I think it's not a bad idea to be short on money because it keeps one conscious about spending habits, but I don't think being so scarce so as to be incapable of doing anything is better.
We got roughly 0.1*age dollars a week with a static bonus for keeping high grades.. Which was more back then. But what I really want to mention is the savings encouraging deals they made with us. If we saved that money to a proper large investment, usually so large we required pooling. They'd pay half.
My point isn't that this is a good system but it's built up an extreme spending aversion in all of us. Sample size 5.
If you do this also teach your children about investing, compensated risk, idiosyncratic risk and inflation. Or they'll buy pizza with their bitcoin for the novelty of it.
$40 a month is like $500 a year. That's not bad
Yeah chat is missing the conversion rate. To be honest I would give my kid 5 euros a week from a certain age, with the possibikity of doing chores for extra
I say buy kids gifts when they need it and to reinforce good behaviour, allowance is your chores, you get paid for your labor.
I think there is some new studies showing that paying for grades and chores actually resulted in bad long term behavior because they stop when they aren't getting paid and perform worse than before
Yeah that's probably true.@GEM4sta
Mfs be like "I never had an allowance" but every saturday went to their parents to ask for money to go to the movies and dinner after
my allowance maxed out at a dollar if I did extra chores during the month, at middle school age in the 00s, totally useless and I never bothered No point
Maybe I'm fucked up, but I was given a small allowance PLUS my lunch money. I had the choice to save money to buy videogames.
Now my credit score is maxed out and banks beg to to get a credit for a house like it's 2005.
I only made enough allowance that I had to save up for an entire year to get a video game usually, while I am a little jealous of those that could get more, it did mean the games I did get I cherished and were very special experiences.
for my interests $100 a month gets a ton of stuff. $30 for an incredibly good 9DOF force sensor that'll last me years. that's on the high end.
My fuckin PANCAKES
literally always buy index funds. Market always wins long term.
He should pay her in the crypto currency du jour to teach her diamond hands💎🤲
I'm 25, me and my siblings had a weekly allowance of 2 euros each
BASED, JUSTIN
I got 2$ a fortnight in the early 2000s and 5$ a fortnight in high school in the early 2010s.
For me I’ve always had parents who had a good job. In high school I worked about 16 hours a week in the baseball offseason but this was always assumed I was doing well in school and I didn’t really need to work more Becusee my parents wanted me to focus on school as well as spending time with friends cuz it was time I’d never be back. My junior year I got a girlfriend and they assumed I’d pay for most stuff for her so that’s when I got my job at a golf course and worked a bit. During baseball season all I did was school and baseball. Even in college they helped me out a lot again assuming I was focusing on class so I didn’t have to balance class working and spending time with friends. If I didn’t hold their standards they wouldn’t have helped me out as much as they did
Mr. Librarian since you’ve watched enough NL to know, can you give us an investment guide? :)
my ass just bought government bonds idk anything about investing
@@TheLibraryofLetourneau wasn’t he making fun of government bonds before?
If you want a safe stock you can buy stocks in agriculture and/or some types of transport stocks. People will laugh at how safe you are being by investing here though.
Telecommunication stocks should still be good for the next while then they might tail off.
If you want to be cool (poor) forget crypto and invest in Chinese companies instead. If you're lucky the entire thing is just gambling on who will get a state contract next.
Also don't just invest in one thing, if you're making good choices with investing then the more places you invest in the higher chance you make a profit.
Those were my Dad's tips he told me.
Oh also for the love of god if your country has high stock broker tax rate (or whatever it's called) then make sure you set up your investments using someone's identity that doesn't make a ton of money already.
My Dad set it up on my Mum's account because it was easier and he lost 4 grand because my Mum made a lot of money as a nurse that year while Iinet's stock price absolutely surged.
All of this meant my Mum officially made 105kish that year and 10kish of that was from stocks. In Australia people making over 100k a year have a 75 percent tax on their stocks so the last 5kish was taxed 75 percent.
Meanwhile my Dad was half retired half unemployed only making money from benefits and stocks.
I felt pretty spoiled as a kid but my mom drip fed me cash bro it was like 5$ a month n she just made me put it all in a savings account that went up like 3 cents 😭
and now look at you 12:37 got me
i also didnt get any allowance as a kid or any parental guidance on finance for that matter and when i turned 18 i fucked everything, so take from that what you will
My parents made me work doing minor chores like mowing the lawn or washing the car for like $5-$10. When I was like 5, I washed the car like 20 times in one year to save up for a gamecube. Honestly, as much as I hated that as a kid, I think it was a good system.
I swear all the people saying $10 a month are the same sorta people that don't like student loan forgiveness because they've already paid for theirs. People just want to punish others to the point they go through the same bullshit they did.
At least let her use your car
Chat is weird, 40 bucks is like nothing if you live in a first world country