Children are often not aware of the value of hard-earned money. This is why they are often pestering parents to buy things like games, toys and books.  Especially when the society gets more competitive and demanding, children’s tendency to keep up with their friends and technology may trigger their urge to also own things that their friends have, buy toys advertised on TV or keep up with fashion and trend.

Fortunately, my eldest boy is quite sensible and in recent years we have not splurging much on toys. I have shared with him the value of money, how money has to be earned honestly, how one should not spend beyond one’s affordability and also save. Of course, we still spend on games, books, trips, clothes, enrichment classes, educational items and entertainment activities for the boys on our own accord but we do not encourage our children to pester for unnecessary items.

I decided that it is time to share with Darren the simple theory of money counting since he will have to purchase his own food in the school canteen when he joins primary school next year. Hence, I present the opportunities for him at home to learn this in activities. At the end of the day, it is not only money counting but also ensuring that he understands that when a certain amount of pocket money is given to him, he will have to learn to safekeep it well, take effort not to overspend and to prioritise the money for different usage. Most importantly, for now he will have to learn the amount of change he is expected to take back when buying things in school.

One day, our children have to grow up into responsible adults who earn their own money and be responsible for the own earnings and expenses.