Ilene Slatko, Financial Coach
We are pleased to have Ilene Slatko, Financial Coach, share a first job and earning memory.
Now, in her own words, Ilene Slatko tells us about her first job.
No Allowance - What to Do?
As the oldest of four children, I was raised to be independent. But with no allowance, the only option was to work.
I started my babysitting career at 12, earning a whopping $.25/hour. To my chagrin, my mother insisted I save almost all of it.
Despite still not having much spending money, I appreciated the trips to the bank with her, my savings passbook in hand.
Fast forward a year or so when a friend’s father was transferred with USAID to Nigeria. Over lunch one day, my best friend and I decided we’d go to visit her. Our parents challenged us to raise the money ourselves, in order to secure their permission to take the trip alone.
Babysitting became a daily ritual. We began to take orders for birthday cakes. Our neighborhood was plastered with requests for people to hire us. At 14 ½, the two of us travelled to England, Africa, and Spain. A six-week trip bought and paid for with our hard work and focus.
The best part of that year, however, was the realization that anything was attainable with a goal and hard work.
I have carried that belief with me for many years.
My favorite part of my work is helping people reshape their beliefs and behaviors to achieve their goals.
(1) The average babysitting rate in 2018 was about $16.25 per hour.
Source: Care.com 2019 Babysitter Survey
(2) The national average hourly rate for a babysitter is $13.75 for one kid.
Source: Local Babysitter dot com
(3) Less than 40% of babysitters and nannies are CPR and/or first aid certified.
Source: Local Babysitter dot com
BONUS DID YOU KNOW
Did you know the average cost of a ticket to a Major League Baseball game in 2020 was $34.04? (Source: Statista dot com)
That means using a national average rate for babysitting of $13.75, three hours of babysitting would be required to pay for the ticket alone!
For purposes of this illustration, let's not factor in taxes and other considerations. However, for discussion with kids, you may want to do so!
Discover more about Irene Slatko by visiting her website:
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