In Mid August I posted that DD had saved up $3000 from her job between her savings and checking account. Well, as of yesterday she has $4800! After her next paycheck she will be over $5000. That is so awesome. She buys herself things....she bought most of her school clothes and some shoes/boots, though she didn't go crazy, maybe $200. She bought herself a nice $150 North Face jacket and just recently a nice rain jacket that was half off, so cost her $45. Apparently the brighter green colored one I bought her last spring (she picked it out) is just too bright so she hardly wears it. So, I'll wear it and switch on and off with my black rain jacket. She buys her own gas and pays for $20 a month of her $33 a month cell phone plan. She buys herself jewelry (she just found a really cute necklace at Kohl's that was regularly $100 on sale for $40 plus we had a 30% off coupon, the pantyhose she needs for work, and occasional stops at Starbucks.
She changed her work schedule from weekends to weekday mornings, so while the tips aren't as good weekday mornings, she does get 2-3 more days in per week on her paycheck. She has also gotten to be a server 2 times in the past week and a half. Once during a weekday morning and she made $70 in tips and she got to work yesterday to fill in for a server and made $120 in tips (and that was after tipping out the hostesses and busboys). She also gets to serve again Monday night (they keep changing her schedule around, which she isn't too thrilled about), but it's very slow on weeknights, so she probably won't make much at all. As soon as she got home yesterday we headed for the bank, as it was still open. She had a paycheck of $400 for half the month and $295 in tips to deposit. Crazy! I'm not sure if this is the case everywhere but in our state restaurant workers make full minimum wage plus tips, so they aren't making like $2-3/hr plus tips. So, between her regular hourly wage and tips she made almost $31/hr yesterday. Needless to say she is loving it and she really likes where she works, so that is great. It kind of sounds like she will probably get moved into a server position soon. Usually they won't do it until you are 18, but apparently they have been impressed with her and she'll be 18 soon, anyway.
She should have quite a bit saved by the time she goes off to college next September.
Good for her! You must be very proud! I'm impressed! :)
ReplyDeleteHere in Iowa they pay half the min.wage per hour....but if they don't make the min. wage in tips they are paid min. wage... crazy huh... One of my sons is a waiter/bartender...Thursday through Saturday evenings are the good tip nights... Friday lunch hour is good tip day, sunday lunch hour is good as people go out to lunch after church...... Monday and Tuesdays are slow days so he has the day off....They are also cutting hours so they employee doesn't go over 30 hours so they don't have to cover medical insurance...He makes good money but is not a hoarder like your daughter....Yes I call it hoarding as my daughter is the same way as your daughter.... She buys like your daughter and she puts everything else away.... My daughter went through 4 years of college and is now putting money away to buy a condo next June....She doesn't do yard work... Your daughter sounds amazing.....Lisa
ReplyDeleteShe hates yardwork too, LOL.
DeleteDD might want to think about keeping some of that cash out of the bank as traceable assets will count against her MORE than parental income for qualifying for federal student loans for college. Just sayin'.....
ReplyDeleteGood to know! Fortunately, Grandma is paying for her college, but as we were just talking yesterday, since she will be graduating with her Bachelor's degree when she is 20, she is thinking about getting her Master's....which she may need to take loans out at that point.
DeleteAs for school....she needs to slow down!
DeleteI was barely 17 when I graduated HS, 20 when I finished college. You THINK you know what you want at 20....but you don't. There is no sense in hopping into a Master's program, spending the money....to find out that isn't what you want.
I am totally PRO education, but having done the fast track thing.....there really is something to be said for pacing it out and really figuring things out. Plus, if she is 23 with a Master's Degree...she is going to need the emotional and social maturity to go with the level of education once she is in the workplace, and that is something that just comes with time.
Haha! Yes, I advised her to wait on the Masters...go out and get a job for awhile and if she wants to get her Master's then maybe she'll be working for a good company that will pay for it. I used her aunt as an example of that. But, she is one determined, focused young lady and really - she is already so mature and confident. Most people that meet her are amazed to find out she's only in high school.
DeleteExcellent progress for your DD!!!! The Princess has saved quite a bit too, and recently asked me to "up" her savings from 50% to 60% of her take home. She can get pretty spendy with what she has in checking, and if she'd give up her concert "habit" then she would definitely have more in savings. As it stands right now though, she has more in her regular savings than I do!
ReplyDeleteWow, I wish I had had her saving gene when I was her age. You should be proud.
ReplyDeleteThat is awesome! My kids are so busy with sports and school, there is no time to work except for babysitting and lawnmowing. Hopefully they can make up for it this summer!
ReplyDeleteThat is awesome! My kids are so busy with sports and school, there is no time to work except for babysitting and lawnmowing. Hopefully they can make up for it this summer!
ReplyDelete