Adults are now 'banking' on allowance

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(Source: 3TV/CBS 5) (Source: 3TV/CBS 5)
(3 ON YOUR SIDE) -

Money is no game to Brandon and Amiyrah Martin. Two of their three children get an allowance, but they’re not the only ones pocketing it. The couple also sets money aside for the adults in the house. They call it their ‘fun money.’

Brandon explains, “If you want to have spending money, we'll take 100 bucks a week, or take a certain amount, and break it down. That's how much you get and this is how much she gets.” Then, that’s their money to do with what they want, no questions asked.

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Amiyrah says, “We've decided we want to use it differently and it doesn't have to be something that you both agree on how you're going to use it.”

With money being a major source of stress for couples, experts say adult allowances can be a real relationship saver. Banks and other financial groups are even getting in on the trend, setting up special systems and apps for a digital-based adult allowance.

“We all have very complicated lives, very busy lives and it can be very easy to forget that we're trying to stick to a budget or stick to a particular allowance,” explains Ramy Serageldin with the app Honeyfi. It tracks personal spending and purchases, so you don’t blow your allowance or your budget.

Serageldin says, “It's really about them being able to do whatever they want with that money without their partner judging them or keeping track of it.”

Some argue couples should be able to just set a budget and stick to it, without the bank or an app setting strict personal spending mandates on a daily, weekly and monthly basis.

The Martins, who run the budgeting website 4HatsandFrugal.com, say it really is about being able to limit spending, no matter what tool you use.

“I've always had an allowance and a goal. It plays back into how I was raised,” explains Brandon.

Click/tap here to download the free azfamily mobile app.

Copyright 2018 KPHO/KTVK (KPHO Broadcasting Corporation). All rights reserved.


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Warren TrentWarren Trent is currently employed by KTVK/KPHO-TV in Phoenix, Arizona as an investigative and consumer producer for 3 On Your Side, a unit that earned a 2013 Rocky Mountain Emmy nomination for a report on expired tires and a 2015 an Emmy nomination for a report called "Mattress Madness."

Click to learn more about Warren.

Warren Trent
3 On Your Side

Warren previously did on-air reporting for the KTVK/KPHO-TV “Varsity Zone” sports show. Warren’s versatility continues to shine as he has worked on the assignment desk, as a news writer and as a field producer.

Warren is a seasoned television journalist whose progressive TV career began at 6ABC-TV in Philadelphia with "Action News," a favorite choice for millions of viewers for decades. While at 6ABC, Warren advanced through the ranks in unprecedented success as a sound technician, an assignment editor, a video editor, a sports producer, a bureau chief, a public affairs specialist and ultimately as programming producer. In his final role at 6ABC, Warren produced a top-rated, award-winning television news magazine show and also lead producer for the "High School Huddle" sports show. Warren has also been assigned to cover both global and national news stories.

In addition to broadcasting, Warren enjoys contributing to society as a mentor and volunteer. He is president of the Arizona Association of Black Journalists and a member of the Alpha Phi Alpha Fraternity.

Warren has also volunteered by serving on the board of directors for Image and Attitude, a New Jersey-based nonprofit specializing in self-sufficiency for women and has also served on the board for The VIP Project, which supports autism awareness.

Warren says it is an honor to serve on the NATAS Board of Governors to work with a diverse group of professionals dedicated to honoring and assisting current and future journalists.

And one little-known fact about Warren is that he taught himself how to juggle as a hobby.

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