Teaching Kids to Save
Wednesday, June 2nd, 2010Lili’s savings account is now 3 years old. I have singlehandedly provided her everything and I take pride in the fact that Lili is growing up appreciating things that I am doing for her. The cutest scene by far is her kissing my eyes as I was about to close them at 6 in the morning, while she has welcomed the morning after a good night’s sleep. And she’d ask me if I have not slept yet, and when I tell her I am about to sleep, she’d embrace me and hug me and tell me that she’ll send me off to dreamland…. I love it when my daughter does that. It erases all bodily pains (from more than 16 hours of work) I feel..
So anyway, since she knows that it pains people when they make clean money, she often says that her savings will be used for a relaxing vacation for the two of us. I would only smile, thank her and tell her that her savings is for her educational fund as well as emergency funds. I always emphasize that mommy works hard to send her to a good school since the chance to get it for free has long been forfeited, and that, I may not always be around so we should put her money where it will be safe. To be practical, I tell her these things so she will be prepared with whatever will happen. Of course I know that my family will always be there for her as my family is always concerned with her well being and future. So every time she gets a few bucks as gifts and those she earns by getting perfect scores in her test papers, we place temporarily in her coin bank, and from time to time, take them to the bank to deposit. And she gets to climb up the counter to give the money for deposit to the teller.
But of course, as a responsible parent, I have in mind that her money in the bank will be for her to use when she is old enough to control her finances. They’re for her to enjoy, and not mine to dispose. Her education and daily needs is a parent’s obligation, and an obligation is an obligation. Only responsible adults and responsible parents understand that.










