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As I shared yesterday, we don’t have much. I know for a fact that my parents struggle whenever it would be time to pay school fees and more. Plus, it was fairly hard back then to provide three meals a day at home. The struggle was real and somehow I was thankful for the journey since I realize the value of money very early.
Too bad, financial education is not taught in school. That is why, it is really the parent’s responsibility to teach their kids money management and personal finance. Though my parent’s expertise in terms of this area is not yet thorough, at least they were able to still give me valuable lessons on money. Until now, those lessons have a crucial role on how I handled my finances.
These things are the ones I would like to share appropriate for parents and children alike.
Value of Savings
I was already saving money when I was three. However, I don’t have a piggybank that is why my father would cut a hole in baby powder tubes where I can slid any coins I managed to save. My mother would always tell me to put money there first before I spend my allowance in school. I would check on those powder tubes and I am happy when it gets heavier by the day. Knowing how I love savings, my father bought a ceramic piggybank. I was so delighted to own one that motivates me further to save and save. When I grew up my mother forced me to open a savings account in a bank. Good thing there were banks that were keen to have children’s account.
Value of Hard Work
My parents started gardening during my elementary years. And being the eldest, I was tasked to help in any way I can. We planted vegetables back then. More than taking care of the produce, I was also tasked to sell those vegetables. Hence, every time we would harvest something, I would roam around our little barangay to sell it. From there I know, “mahirap kumita ng kwarta”.
Value of Business
Selling would always be close to my heart. Apart from selling vegetables, I also sell chocolate tubes called Choko Choko. Back then a classmate of mine sells bread in the classroom and my chocolate would serve as the bread filling. What a great combo indeed. I can still remember how my mother would join me in the grocery store to buy those chocolate tubes. She was indeed very supportive with my small business. The profits are saved immediately so I can buy something for the family during the holidays. No wonder, even until now, I really ventured into selling.
Personal finance is one subject that would impact a child throughout their entire lives. That is why if you have kids be it your own or not teach them this. It is one topic that they will use for the rest of their lives every day. Even more, they would be able to grasp the responsibility associated with money.
P.S To those doing the 52 Week Money Challenge, it is Week 24 already! Did you deposit the next amount yet?
P.P.S Want to know more about investing, savings, stock market and more, check out my reference here. You can download free ebooks and resources too.
P.P.P.S I am also sharing my stock market secrets and information via these resources.