DR. WALLACE: My girlfriend and I are seniors in high school, and we've started an interesting homebase business. We got it off the ground in our family's garage, but now we're outgrowing the space.

We want to get a local storage unit a few miles down the road, but my father is adamant that we just continue to work out of the garage. The problem we're encountering is that we don't have enough space anymore, and the garage is stuffed with old sporting goods, newspapers, old clothing, a car that hasn't been driven in years, and several other things that make it difficult to work around and at times dangerous.

We're starting to make some reasonable money, so we could be absolutely responsible for a storage unit's cost, but because my friend and I are not yet 18, we can't enter into a lease agreement. How can we convince my parents, especially my dad, to allow us to do this? — We Need Clean Space, via email

WE NEED CLEAN SPACE: I can understand your father's hesitancy to have you and your friend enter into any contracts, especially if there's a change in your business in the near future. He may be concerned about getting tied into a lease that may have negative financial impacts if something changes regarding your sales volumes.

Having said that, I think some research here may benefit you. Try to find several nearby storage units in your local area and see which ones will allow a month-to-month arrangement with no forward contract. When you and your friend have saved up enough money for a first month's rent plus the deposits required, your father may be more amenable to allowing you to do this. Your letter didn't mention how long it would be until either one of you turn 18, but in the short run, I feel this is the best potential solution.

MY DAD WANTS TO CUT ME BACK BECAUSE OF MY JOB

DR. WALLACE: I'm about three weeks from turning 17, and my dad told me that because I now have a part-time job, he's going to reduce my allowance by 50%! He tells me that I'm spending too much money anyway, so at least I can spend my own money that I'm earning myself!

I was pretty surprised to hear this because I'm the third out of four children, and I know for a fact that my two older siblings received an allowance all the way up until their 18th birthday when he cut them both off. I fully expect to be cut off in about a year anyhow, but in the meantime, I sure could use that extra 50%. Is there anything I can do about this? — Facing an Income Reduction, via email

FACING AN INCOME REDUCTION: I'll give your father points for trying to push you into understanding the value of money more, even though I don't agree with his methodology.

You do have an excellent point that both of your older siblings were able to garner a full allowance until their 18th birthdays. My recommendation for you at this point is to tell your father that if he graces you with your full allowance from now until your 18th birthday, you'll promise to save at least 50% of all the allowance he gives you until you turn 18.

You might even ask him to give you advice on what type of financial institution you should open an account at, and perhaps your new sense of savings and understanding the value of money may impress him enough to bring you back to the full amount, given your prudent pivot!

Dr. Robert Wallace welcomes questions from readers. Although he is unable to reply to all of them individually, he will answer as many as possible in this column. Email him at rwallace@thegreatestgift.com. To find out more about Dr. Robert Wallace and read features by other Creators Syndicate writers and cartoonists, visit the Creators Syndicate website at www.creators.com.

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