It’s true that Christmas is for kids. The bright lights, merry parties, and overflowing gifts create a wonderland for kids. And who can forget the money that comes with this holiday? From ninong, ninang, lolo, lola, tito, tita, whether of blood relations or not, a child’s pocket is one overflowing playground.
Mommies and Daddies, this is the perfect time to introduce your kids on how to manage their pamaskos. They have the resources – all they need is proper and creative guidance to show them the value of saving money.
1. Give them the proverbial piggy bank. Or any alkansya for that matter, as long as there is no hole at the bottom for them to cheat out of this exercise. To lighten the shock of not being able to enjoy their cash gift, let them keep half the amount, while the rest goes straight to piggy’s belly.
2. Open a bank account. Several banks offer specific arrangements for their young clients. Or parents can simply compensate the deficit. Opt for the bank book, as ATMs represent a different kind of temptation for their eclectic hands.
3. Do an investment exercise. Give them the option to grow their money. How? By doing certain chores and special assignments, parents will give them a certain amount. But their parents will be the one in charge of their “seed money” and “salary”, to be given on a pre-arranged period.
4. Help start a business. Remember the lemonade stands so popular in Western sitcoms? A lot of opportunities are available today: ice candies, sago’t gulaman, and even a hamburger stand. Let them feel that they have a stake and responsibility as they become your business partners.
5. Donate to charity. Of course, the ROI in this is non-existent. But the lessons and values they’ll learn by practicing compassion to the less fortunate are priceless.
