April 06, 2008

Talk About Money

Hi! Recently something 'flash' in my mind ... "money" and "kid" and I remember that I forgot to give my kids some money this morning before they went to school.

Oh yes, I always give my 2 kids -each Rp 35.000,- , it's about U$ 3.80- in the beginning of the week (this rule, I mean the amount of the money, is valid from this January). Since there are 7 schooldays in a week here, so it means they get from me Rp 5000,-/day. I only give them once, if they broke in the middle of the week.. it would become their 'problem', I wouldn't give them an '
extra income'. If they're smart enough, they could have much money left in the weekend. They could buy anything they want from it.

I used to do this since they were at 4th grade, because I want them to learn about value of the money, discipline, responsibility and understand about simple cash flow. So far..I think it's useful. It's useful for me, too, since not every morning
I could prepare their meal-boxes for school. Sometimes the appetite of the 3 kids is different, like this...when I've got lazy enough (it's natural..ha-ha-ha), I could give Ian-aged 4- only for example 2 small boxes of cereal with milk or biscuits or anything I could buy from nearby store, but not for the 2 older kids. They don't want that kind of food anymore for school, so "you could buy your 'real' meal from the school canteen, honey", I said.

This goes for Dea, my first daughter-aged almost 13- :
Frequently she could still have up to Rp 10.000,- to buy her favorite Japanese manga comic in the weekend. She told me once, she could only expensed her money max Rp 5000,-/day, but only for 4 days. She would take meal from home for the rest of 2 more day. Sometimes she could have more than Rp 10.000,- in the weekend. I remember, when she was at 5th grade, she has once sold name cards that she designed and print from our PC to her friends. Actually my husband and I were surprised of her genuine idea. The profit is quite good, but I found she forgot to add the expenses for the ink to print (it means she used my ink!). I was glad this kind of situation could emerged her business idea. I believe she will learn much from this 'lunch money rule'.
I saw she has more discipline and responsibility than her brother in spending money.

About my 2nd kid, Adit -aged 11- :
Sometimes when I see my middle son has a hard time to manage his lunch money that we gave him each week, I smile and said inwardly, "Poor Adit." He sometimes can make it and have some left but most of the time he broke and can not make it until the end of the week.
But there is nothing we can do to help because he needs to learn about that.

From the article I read, parents should give basic financial education to their children if they want their children "smart" in managing their own money when they're grown up.
Well, let's see...

1 comment:

E-(phi) said...

That a wise thing to do to learn how to manage money since in a very early age. So they will learn about the priority of using the money.