After reading the article, come to think of it; both my parents never really taught my brother and I about the value of money when we were kids. When ever we wanted to buy toys, it was either ONE toy only or NONE at all. And when we questioned and pestered our parents on why we can't have it, it'll be reasons like; "You just bought a Barbie doll recently." or "You've still got so many toys in good condition lying in the cupboard." My parents never gave any reason relating to money. Now I wonder why. Maybe cause we would never really understand the value of money,and eventually we would STILL ended up sulking for the entire day; it's not like we would ever be contented with the reason of money issue.
However, as soon as my brother and I grew into our teenage years; our parents began to lecture us about the value of money and budgeting. We learned about budgeting when our parents change the pocket-money system from weekly system (primary shcool) to monthly system (secondary school). And if any one of us were to spend all our allowances before the end of the month; we would have to face the consequences of not having any money to spend for the rest of the month.
But I guess that never happened to either one of us siblings as we always brought our own food for recess . And oh how I remember that I was one of those who always bring scrumptious food to school; lou mai kai-glutinous rice with pork (yes, it's supposed to be forbidden), siew mai-pork dim sum, har mai-prawn dim sum, tarts, pastries and bread with various fillings and toppings. Yes, I was the luckiest one when it comes to recess food. =)
Although our parents never did really stressed to us about money issue, we could easily tell we came from a family that are just average-earners. However, on special occasions or achievements; we STILL get stuff that we wanted so badly (eg. Playstation, computer, that pair of Fila shoes, etc.). We also got our cell phones and Astro; though much later compared to others. I guess mainly our parents doesn't want to spoil us and also in terms of disciplinary wise.
Recently, just a few months back; I was eagerly recommending a few friends of mine to read a best-selling book titled 'Rich Dad Poor Dad' by Robert T. Kiyosaki and Sharon L. Lechter.
It's a book where I think most accountants and financial analysts would/should have read the book. Basically, the book is mainly about teaching your kids about money; the value of it, how to earn it, how to double or even triple it, how to ACTUALLY differentiate between liabilities and assets and making sure your assets are always generating more money. In other words, how to make money work for you instead of you working for money. So that's pretty much the summary of the book.
Generally, teaching your kids the value of money is never really an easy task. But it's still another quintessential education that parents ought to teach their kids, besides your normal sex education. To be frank, I only learned it the hard way the true value of money; when I moved out to further my studies. From there only I saw with my very own eyes the flow of money and how volatile it is. =(
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It's the time of the month again. Chinese New Year and Birthdays. Honestly, I'm not eager in turning twenty this year. Although if my request is fulfilled, I'll be really HAPPY! No pressure in making it all happen okay peeps?? I'll still be happy no matter what. =DI know many people who's birthday fall in the month of February. You guys know who you are. *wink wink* Well, we are FABULOUS FEBRUARY BABIES!! In short, fab feb babies! Wee... =D
p/s: The world just got smaller as I found out that the blogger of 'Beads & Pieces' happened to be someone I know. Lucky me! Now I've got a mentor for my new found hobby! =D
Love the post!
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