Pocket Money
MoneyTalk for Kids December 28th, 2009Yesterday at my in-laws’ place, I had a mini chat with my 2nd SIL.
SIL: “Have you decided how much pocket money you want to give Keatkeat?”
Me: “$1.50. But I wonder if its enough. Because a plate of Char Siew Rice (roasted pork rice) already costs $1.20.”
SIL: “So you are going to make bento for him everyday?”
Me: “Nahhh… I’m a lazy mommy. *giggle* I don’t intend to do that. I will probably give him a heavy lunch. Since their snack time is only 3hours from his lunch. Don’t think he will be that hungry. Maybe he might buy a fishball or two.”
SIL: “Beware. He might spend his money at the bookshop. Buying erasers and stationeries.”
Me: “I allow him to do that.”
SIL: eyes widened “Huh? You are the first mommy among all the mommies I know which allow this.”
Me: “I think all kids are the same. The more the parents forbid, the more they will do. The more they will ‘hide’. The more they will ‘lie’. So I just let him be. He will get sick of it sooner or later….” *Smile*
Indeed, the way I think as a Mommy is very different from most parents. Some of my parenting tactics are considered FORBIDDEN. *giggle* Oh well, I’m just different. I’m ALIEN MOMMY! *Grin*
For this pocket money matter, its an extremely simple rule. Once its given, it belongs to the receiver. As simple as that. What the receiver wants to do with it, he bears the responsibility.
If he chooses to spend the entire $1.50 on stationeries and found out that his tummy rumbles during lesson after break time. Do you think he will do it again tomorrow? What a kid can handle least, is hunger.
Some say, “Don’t you want to cultivate his habits of saving?” I laugh at this question all the time!
HE is one money magnet! With his great mathematical-brain, he decides how much he sells his toys on eBay, so that he knows how much he can get back after dividing the sale amount with his bro, and hence how much he can *Kaching* into this piggy bank.
In fact, he is a miser! *giggle* Calculative! Yup that’s him!
So am I afraid that he will not want to save up? NO! *giggle*
December 28th, 2009 at 9:24 am
It will be great to see that Keat Keat knows how to manage his money in school. I’m sure he be able to save up to buy stuff he likes :)
December 28th, 2009 at 1:45 pm
As each child is unique, I also feel that each parenting is also unique. So I support what you are doing ;)
December 28th, 2009 at 1:50 pm
Wah…good that he has saving/miser habit also!!! :) A mother knows best what is best for her child.
December 28th, 2009 at 3:16 pm
how clever of you…but I simply can not “endure” the sight of 50 erasers and hundreds of pencils lying around on the table…sigh…already Nic is having heaps of such things at home…
.-= contentedmom´s last blog ..Creative Play =-.
December 28th, 2009 at 3:49 pm
So true, I think kids learn the best when they experience the lesson for themselves. Especially when they have to go hungry to learn what they should not do the next time… that’s probably the hardest lesson they will learn. Most of our kids are so pampered when it comes to being fed well.
December 28th, 2009 at 6:01 pm
Oh Contentedmom,
‘your’ 50 erasers and hundreds of pencils lying around is a RARE sight in my house.
But this number is replaced by his mini-car collection.
*Faint*
I am SOOOOOOO thankful that the school bookshop does not sell HotWheels! *laugh*
December 28th, 2009 at 11:05 pm
Ya true! Think i’m also giving him $1.50 and i’m also ok with bookshop shopping. I used to do tat too ya! ;) hee…
But on some days, might be packing him Bento once he settle down in school. ;)
.-= levine_tay´s last blog ..Bento#01- My very first bento! =-.
December 29th, 2009 at 1:21 am
Hey, I’m one of those kids who learnt her lesson for spending too much in bookshop! once learnt, never made the same mistake again.
actually it’s good keatkeat’s a miser, i can see that his piggy bank growing fatter and fatter *grin*
December 29th, 2009 at 2:33 am
you have a point there :)
December 29th, 2009 at 6:04 am
saw a lot of my p1 kids doing the same thing, buying lotsa things from bookshop especially after seeing their friends getting them. but i think with you constant teaching, dun think keat will do the same.
December 29th, 2009 at 9:46 am
Angeline,
Usually when a child has his/her hand on his own pocket monies, the child will be very tempted to all the different things the bookshop has in store..hehe.
The child would rather forego hunger for the new toys/temptation. It happens to all P1, esp during the transition.
So it would be good to just casually check with Keat what did he eat during his sch break…then you will know how he spend his $$.
Just sharing from experienced.
December 29th, 2009 at 10:32 am
Astee,
checking with him is for sure.
But if he tells me “Mommy, I didn’t buy food today. I used all the money to buy this and this and this from the bookshop.”
I am perfectly fine too!
*wink*
December 29th, 2009 at 10:37 am
kkf,
Peer Pressure!
THE thing I have total respect for its power!
There is a high chance he will follow.
But I am fine with that too.
But my boy cannot ‘stand’ going hungry… *giggle*
December 29th, 2009 at 2:20 pm
You are GREAT mom :D
.-= Juliana RW´s last blog ..Jason, Thomas and Friends =-.
December 29th, 2009 at 5:37 pm
I think kids need gentle guidance about wise spending/saving habits, but you are right– what’s the point of calling it “HIS spending money” if you tell him how to spend it?
December 29th, 2009 at 6:54 pm
Im Being Held Hostage,
Exactly!!!
Bull’s Eye!
December 29th, 2009 at 9:18 pm
U’re one cool mommy! We’re still deciding on how much pocket money to give n how many days a wk she can buy from the canteen.
December 29th, 2009 at 10:46 pm
I used to give L $1.50 too regardless she has bento for the day and it wasn’t enough! :p If he has huge appetite like L, it may not be enough. I ‘faint’ when I heard how much food she eats during recess. Hahaha….
Also, I give her that amt too even she has bento coz I want her to save up the money :) Similar to what you said, the money is hers :) But she does ask me if she wants to spend on something..
December 30th, 2009 at 12:43 am
LZmommy,
So how much did you give L after you realised it wasn’t enough?
and How much do you intend to give Z?
January 6th, 2010 at 9:14 am
I really like the way u teach your kids about money. Was just telling my hubby that Malcolm learns best not through theory but through doing the actual thing. Thanks for sharing :)
.-= rachel / 4malmal´s last blog ..Baby at 2 months old =-.
January 6th, 2010 at 11:35 am
I agreed with your statement :when money given to the receiver, it is up to him/her”. Sooner or later, they will learn how to spend wisely. Hopefully my kids will learnt that too!
.-= mnhl´s last blog ..All about the EYE =-.