Allowance Binder Refill

@lizbettalksmoney

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Why it worked

The video provides a practical and relatable demonstration of a budgeting system for children, appealing to parents interested in financial literacy for their kids. The creator's personal anecdotes and clear step-by-step process make the content engaging and easy to follow.

Summary

The creator is refilling her allowance binder for her children. She removes old pages, labels new ones with dates, and then allocates cash into different envelopes for her daughters' weekly allowances. She also discusses her mother's preference for $2 bills and how she manages savings and investing funds.

Structure

1Prepare allowance binder pages
2Allocate funds for car and other expenses
3Discuss $2 bills and mother's savings habits
4Fill weekly allowance envelopes for daughters
5Deposit funds and plan for future refills

On-screen text

Allowance Binder Refill First things first, I take out all my empty allowance weeks erase the dates from them I have six weeks because I have plenty of envelopes available to me but the allowance binder that I sell comes with four weeks if you have two kids eight weeks if you have one And then if you have three or four you just have to add on an expansion pack so it can accommodate four weeks for three and four kids. Each of these envelopes are labeled with my daughter's name I'm able to fit one week of allowance for both kids with my dual cash envelopes. And this is very helpful because it saves a lot of space in my binder. As of right now that I'm aware of you cannot findaware of dual cash envelopes that fit an A5 binder anywhere. So we're gonna label with the dates. Today is 7/3 7/10 7/17 7/24 7/31 July has 31 days, right? 8/7 We're like halfway through the summer already I'm going to take out what I have in my bank to see what I have to work with. So a few $1's here I think just one $5 So $300 is for the car The "car" see me rolling And then $20 The next thing I'm going to do is go to the Allocate section See if I can exchange anything for more ones or fives. This is the charity envelope, $19, so I can't switch out a $20 bill But I can switch out a $5 $5 Isabelle's Savings Nothing to exchange there I think she only has like $3 from the last time Katelyn's savings 5, 10, 15 20 In fives And then one, two, three, four five more ones here for a $5 bill I had a lot of people talking about keeping the $2 bill My mom is really big into $2 bills My quinceañera was pretty much paid for in $2 bills because she saved them up for like a few years And she's always able to get $2 bills As an example This is what she gifted my daughter A bouquet of $2 bills So don't worry she has plenty of $2 bills to go around This one can stay in savings It's $23 in investing so I'm actually just gonna take it completely out and make a transfer to her investing account that I can do it after I finish filming. Now we're gonna go ahead and fill up our allowance week envelopes My oldest gets $9 because she's nine years old My little one now gets $6 because she's six years old Four, five, six Seven, eight, nine Three weeks Three, four, five We got halfway there I'll leave the $20 in fives To exchange at a later time with the girls We'll keep the $2 bill in the binder for good luck How about that? back here Maybe we'll grab a couple of $10's, just to have We'll keep one $20 bill in here And then I'm gonna actually deposit $200 into our bank account So that'll be $80 and I'm gonna break down 60 of those will be $1's, 20 will be $10's And I'll get back and just refill the other three weeks I feel pretty confident that those $80 that I'm gonna take out will get us through at least 2-3 months until I have to go back to the bank. Off to run some errands, and we'll come back and finish this refill.

Original caption

The main reason I created the Allowance Binder is to stay organized! Especially because I personally do not use cash 🙃 Staying organized keeps me consistent too 🙌 I’ll say I can go ~3 months, sometimes longer, without having to go to the bank. On average, I withdraw $100 in mixed bills. Allowance Binder is linked in my bio. 8 color options to choose from! 🧡💚🩷🩵💜🖤 #kidsandmoney #allowance #allowancemoney #allowancesystem #familyfinances

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Transcript

I think today is the day that I have to go to the bank and get some more cash. I'm doing an allowance binder refill. First things first, I take out all my empty allowance weeks, erase the dates from them. I have six weeks because I have plenty of envelopes available to me, but the allowance binder that I sell comes with four weeks if you have two kids, eight weeks if you have one. And then if you have three or four, you just have to add on an expansion pack so it can accommodate four weeks for three and four kids. Each of these envelopes are labeled with my daughter's name. I'm able to fit one week of allowance for both kids with my dual cash envelopes. And this is very helpful because it saves a lot of space in my binder. As of right now that I'm aware of, you cannot find dual cash envelopes that fit an A5 binder anywhere. So we're gonna label with the dates. Today is 7/3, 7/10, 7/17, 7/24, 7/31. July has 31 days, right? August 7th. We're like halfway through the summer already. I'm going to take out what I have in my bank to see what I have to work with. So a few $1's here. I think just one $5. So $300 is for the car. The "car". See me rolling. And then $20. The next thing I'm going to do is go to the Allocate section. See if I can exchange anything for more ones or fives. This is the charity envelope, $19, so I can't switch out a $20 bill. But I can switch out a $5. $5. Isabelle's Savings. Nothing to exchange there. I think she only has like $3 from the last time. Katelyn's savings. 5, 10, 15, 20. In fives. And then one, two, three, four, five more ones here for a $5 bill. I had a lot of people talking about keeping the $2 bill. My mom is really big into $2 bills. My quinceañera was pretty much paid for in $2 bills because she saved them up for like a few years. And she's always able to get $2 bills. As an example, this is what she gifted my daughter. A bouquet of $2 bills. So don't worry, she has plenty of $2 bills to go around. This one can stay in savings. It's $23 in investing. So I'm actually just gonna take it completely out and make a transfer to her investing account. I'll make a note so that I can do it after I finish filming. Now we're gonna go ahead and fill up our allowance week envelopes. My oldest gets $9 because she's nine years old. My little one now gets $6 because she's six years old. Four, five, six. Seven, eight, nine. Three weeks. Three, four, five. We got halfway there. I'll leave the $20 in fives to exchange at a later time with the girls. We'll keep the $2 bill in the binder for good luck. How about that? back here. Maybe we'll grab a couple of $10's, just to have. We'll keep one $20 bill in here. And then I'm gonna actually deposit $200 into our bank account. So that'll be $80 and I'm gonna break down. 60 of those will be $1's, 20 will be $10's. And I'll get back and just refill the other three weeks. I feel pretty confident that those $80 that I'm gonna take out will get us through at least 2-3 months until I have to go back to the bank. Off to run some errands, and we'll come back and finish this refill.