B.R. 10-year-old lauded by 'Wall Street Journal' for her college savings
The earning and saving habits of Elizabeth Beggs, 10-year-old daughter of LSU professors Jeanne Hurlbert and John Beggs, has landed her in the pages of The Wall Street Journal. Through Elizabeth, who began earning spending money from her parents before she was in kindergarten, the newspaper highlights how teaching children to earn and save at an early age can be among the most important lessons a parent can emphasize. Elizabeth donated the first $5 she earned to the fifth-graders in her school who were raising money for a class trip. In exchange, she received a school certificate that allowed her to forgo her uniform for a week and wear what she wanted to class. "I was really excited because I got exactly what I wanted," says Elizabeth, a fourth-grader. These days, Elizabeth earns most of her money working for her mother's company, which does surveys and social-media consulting. She is paid $5 an hour to plug URLs into a database or help her mom edit videos (Elizabeth points out errors, such as slurred words or poor sound quality). She also earns money for getting straight "A"s or improving her swim-meet times. Elizabeth has made about $500 so far and has put $400 of it in her college fund. The rest she spent, including a $32 "high-tech" swimsuit to wear when she races for her team, Crawfish Aquatics. "It feels really good when you are all done and you get what you wanted," Elizabeth says. "You can say, 'I worked for that. I didn't just get it.' " Check out the full story here.
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