In their never-ending quest to grow their mega-business and grab your bucks, Amazon may have stumbled upon something that may actually help us stick to a budget! Who’da thunk it?
I opened up my email recently to find yet another note from those friendly folks at Amazon. And while you may sense a bit of sarcasm in the opening of this post, I have to say that while reading said email, I had to applaud their latest announcement. Finally something that doesn’t feel like they’re sucking the air out of my PayPal account! (OK, so a bit of that may be my problem, too, but that’s another post…)
Have you heard about Amazon Allowance?
Basically, it allows you to schedule deposits into an Amazon Gift Card on a regular basis. You can even use this with your kiddos aged 13-17, as long as they’re using the account under your supervision (which was a no-brainer for our family). Funds can be deposited on a weekly or monthly basis, but must be spent on purchases at Amazon.com.
All the ways of using this service are pretty exciting – just think of the possibilities!
As my kids and their friends have gotten older, it gets harder and harder to buy gifts for them that they truly enjoy and can use. One of the requests I almost always get from my teens is for an Amazon Gift Card, and one or two others. I have a niece that lives clear across the country – while it’s a bit challenging to stay on top of her current likes and needs, I’m certain that she, too, can find something on their site that she would enjoy! Father’s Day is coming up, and I know my dear husband loves his tools and books, but he usually doesn’t wait around to buy the stuff he wants, so what could be better than giving him a Gift Card to use when the opportunity strikes?
So many people use Amazon for their regular household shopping these days. I have a relative that even has deodorant and toothpaste delivered to her door using Amazon Prime – you can bet she NEVER runs out ;-)! But while it may be easy to over-buy stuff, depositing a set amount for the purchase of designated household items will ensure your pantry or closet stays stocked and you don’t overspend in that area! Yes! Score one for your increased household management skills! Or give yourself a treat and deposit a set monthly spending allowance in a card. Rather than feeling constrained by a budget, it allows you to feel given permission to spend, while accomplishing the same result 🙂
Books, and supplies and dorm room decor… The list of “stuff ya’ gotta buy“ is endless when you send your child away to college. But Amazon has it covered. Here’s a wonderful way to encourage your young-adult, off-at-college student to shop responsibly: give them a set amount to spend each month and watch how they learn to discern what they really need… Because this isn’t a credit card, they can’t over-spend. If you include this generous gift as part of the conversation to most definitely have before they leave about how to handle finances (which you’re already talking about at home, right?!), you open a door to mentor them through other spending and financial issues down the road.
Our family will definitely be able to use this new service in all those ways at some point! But I’m sure there are more ways to use this handy tool in a way that will benefit your own family. If you can think of some, please feel free to share them in the comments below.
Happy Shopping ;-)!
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