Thursday, July 1, 2010

Day 182: Savings

I don't remember at what age my parents first allowed me to bring money to school. From what I can dig up from my memory gap-filled mind is that as early as Kindergarten, I could already purchase stuff from the school canteen. At the time, we didn't use money but "chits" - our parents were the ones who exchanged real money for small laminated cards that had various denominations and gave these to us for use in school.  I know that I used to buy Cone Marshmallow Candy, Fruit Balls and Haw Flakes to bring home to my little sister then. 

Recently, hubby and I decided that it might be the right time already to allow Jarred to receive daily monetary allowance so that he will learn the value of money. The actual amount isn't much really (P10.00/day) but it's enough to teach him to save and keep a budget for whatever he wants to purchase for himself. He was told that he could actually do what he wishes with his allowance but advised that he could save up the money so that he could buy something really big for himself this Christmas.  For the past two weeks, every time he comes home from school, he automatically reaches for the coins in his pocket and places them inside a big blue vase. By weekend, he takes account of his savings and mentally calculates how much he still needs to purchase a most-coveted prize...a Hotwheels Color Shifters set.

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