Help! My ds does not know the value of money
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Wan:
Ya, I get the pt that you're saying. Will put that into practice whenever the opportunity comes. Thanks :celebrate:
Children relate to their daily life. If they see u withdrawing $, of course $ come from ATM. But who puts the hard earned $ in the bank? Open an account for ur child & put some $ in it. When he req for toys, use that account to pay so that he can feel the \"pain\". Or buy a ATM toy from toyrus. Whatever u put in is whatever u have. If u withdraw everything, u will not have anymore \"wants\" for the rest of the week/ month
If they see water from the tap, they assume it will flow forever. But who pays for the water bill? Have they seen a well? Or bring them to newater plant & marina barrage to see how water was desalinated. Have fun in the process of sharing ur knowledge with ur kids! -
Funz:
Accountant in the making
More like bean-counter at her age...
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I have the same challenge, especially with DD. DH has been buying them stuff. If he sees something he thinks the kids will fancy, he will get it for them. Me on the other hand believe in giving them things only during special occasions.
Lately DH realised that DD has a pretty frivolous attitude towards money and her belongings. But yet cannot bring himself to reject her requests nor make her pay for her own stuff. The last straw came when she happily signed, without us knowing, on the school donation card and we had to fork out the cash so that the final amount tally. So in steps evil mummy. And evil mummy not only has to get DD to understand that we are not bottomless pits or money trees but also has to control DH. Frankly speaking DH is more of a problem.
Explained to her about limited resources and opportunity costs using the money that she has saved up in her piggy bank and her allowance. I made her pay us back for the donation amount that we had to top up for her. But at the end of the day, that money still went into her bank account without her knowing. But it was the exercise of her physically counting out the amount and recording how much she still owes us that is helping her learn to be more conscientious about her spending. -
We parents are their role models. As much as I want to enjoy motherhood, I find that sometimes we need to reflect on our own behaviour. Otherwise, all good & bad habits will be mirrored by our kids
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hquek:
That is the same for DS1.. He does not know that there is a opportunity cost to everything...
I try to convey to them the opportunity cost - if they get this, they are missing out on that. But younger kids can't absorb really.
He can be taking whole evening to read his book and then when almost bedtime... He suddenly realises that he has not watched his DVDs and will then start to fuss.. :roll:
At least for $ value it's somewhat better... I give him a fix budget of say $20 to buy any item he wants... He knows he can only pick and choose up to that value
.. of cos with our help to add up the items for him.
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Funz:
Hey, I do that too. Just that to ds, everyday is a special occasionMe on the other hand believe in giving them things only during special occasions.
I guess this trend runs in my family. Cos my dad also spoils me like this. -
ksi:
So when it comes to spending, she won't spend on herself, like I hardly do but she will spend on me, like I do on her.
:hi5: Me too! Both girls in fact. DD2 being the sweetest.
Once after counting hongbao $, DD2 said, \"Mum, you always hafta cook for us.
Today you don't hafta cook, ok? I want to give mummy and my whole family a
treat with my money. I don't want to buy anything for myself. I have enough
toys and mummy buys all my books... I want to blanja everyone a Swensens
lunch. How about that? This way mummy doesn't hafta be so tired standing
in the kitchen so long to prepare food for us and wash all the dishes. Good
idea?\"RRMummy:
Same here. Each time i broach da topic of me going back to work, DD2 wud say[Haiz.. only 2 years back, she was telling me to stay home and not work. She said she doesn't need the money to buy food and toys, just need me... :roll:
\"I don't want us to have a maid. I just want you. If we dun have enough money
then you can minus my pocket money.. i dun need so much money to spend
during recess anyway. You keep it ok?\" -
buds:
My P1 boy doesn't want any pocket money for recess. In fact, he rather brings snacks from home for recess. His reasons - waste of time queuing to buy food. waste of money cos the food tastes so-so only. :lol:
i dun need so much money to spend
during recess anyway. -
Markfch, guess for my case is easier since i dun work.
I just always say i have no money. :lol: Even if i do, i
say don't have. Heheheh.. :evil: I always tell them tt
when i was a kid, i never asked my dad to get me any
thing. Daddie wud buy something when he has money
or feels like buying something for me (and bros).. The
item feels more special then, cos it came as a surprise.
Money was hard to earn those days and people's pay
weren't fantastic. So we dare not ask for anything
becos of that too. My girls won't normally ask for
something unless it may be something they need. Most
days, they save their own pocket money bit by bit and
they get to splurge on what they fancy.. but i draw the
line at getting nonsensical items they don't need.. like
something they'd buy at whim and chuck it aside the
minute they reach home.. $ is precious and when it is
slowly saved to get to a tidy sum, they tend to think
a hundred times before settling on something... other
times they also change their minds and decides not to
get anything after all that window shopping.
Next, hubs keeps a piggy.. err.. correction... a bear to
save loose change he has in his wallet everyday. The
girls will help daddy to feed the bear because the bear
is hungry. He will take out the coins to count with them
sometimes for the fun of it just to see how much has bn
saved... put them back and then continue saving. When
we went out for a meal once, he purposely took out the
coins from the bear and exchanged it for notes. He paid
for our family meal with that same money. Came back &
he put loose change again in the bear... which is almost
empty. The kiddies realised that it took so long for him
to save to get to the bear's belly. But it took one meal
to finish almost all of it. They in turn tell him that his
bear is hungry again.
Another thing i did with the girls was occasionally bring
them with me for our volunteer sessions with the under
privileged children. They saw children hungry for food &
knowledge and saw how each sibling was protective of
another. The elders made sure each sibling would also
get a food pack/snack pack from us before they left our
phonics sessions. My girls once commented they heard
growling stomach sounds from some of the children while
i was conducting lessons.. and when i asked the children
said they didn't eat since the night before. My girls were
on the verge of tears. The volunteer session really opened
up their minds and eyes. They've since avoid food wastage
and always kept away useful things to donate to the same
group of children. This year hoping to bring them along to
help paint some of the homes + clean up on top of our annual
donation of items.
When the girls ask for something ridiculous like a big bottle of
bubble that cost $10 per say... i'd reply, what can $10 buy us
other than a bottle of bubble that would jolly well empty within
the day if we use everything... i'd say, we could buy two extra
value meals at Mac Donalds and that will fill our tummy.. it cud
also get us mebbe 5 packs of nasi lemak from the coffee shop,
to give to the hungry underprivileged children.. and they'd add
that the same amount of money cud also buy them 10 bottles
of bubbles (the smaller bottles) :P.. and also definitely $10 can
be their pocket money for 10 days.. they wud think again and
most times either decide to scrap the bubble idea totally or i
wud sometimes allow by asking them to find something similar
of lesser cost. Like a 60 cent bubble mix from our neighbourhood
stationery store.. Nothing unreasonable or wasteful... some
thing within means/limits especially when it's a want instead of
a need.
Finally, the girls started keeping their own diaries since Nursery 2.
> http://www.kiasuparents.com/kiasu/forum/viewtopic.php?t=3187&start=0.
As they got to Primary school and received pocket money, i taught
them how to save and do regular accounting of their daily savings.
> http://www.kiasuparents.com/kiasu/forum/viewtopic.php?t=3187&postdays=0&postorder=asc&start=70.
Just some sharings.. :celebrate: -
chamonix:
That's what DD2 says too. :hi5:
My P1 boy doesn't want any pocket money for recess. In fact, he rather brings snacks from home for recess. His reasons - waste of time queuing to buy food. waste of money cos the food tastes so-so only. :lol:buds:
i dun need so much money to spend
during recess anyway.
She still asks me to pack for her
on and off these days. She also
says, she eats before leaving 4
school and she can eat after she
reaches home anyways.. :love:
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