#JuniorFinanceWiz
Having dealt with lack of money in childhood and immediate years post-marriage, it was most important to hand over a balanced money perspective to both my Children aged 16 and 11.
It took a while to get the hang that money is not evil and it needs intelligent planning to keep it, and keep it growing. It was also essential to hand over a philosophy of Enjoying the Benefits money could bring your way in terms of goods and products one can buy and enjoy. The financial circumstances were a bit different at each child's arrival and growth period. They were a part of all our financial discussions and endeavours. They were a part of our Financial problem solving. A decade-and-half long exercise in building money consciousness was our monthly trip to supermarkets. The comparing of products in relation to their price, quality, utility, offers and discounts were happily arrived at together. It was impinged naturally why a certain product was not chosen. Reasons, as to some stuff already being there, avoiding wastage, a better offer or a deal. They learned that saving money did not entail deprivation but rather, the best value for money invested. As #Homeschooling parents kids were with us in work place witness to Hard work and Dedication we put in to earn our Wealth. They witnessed the Distribution of Monthly expenses and debates on why a certain service needed adding or deleting.
A working mother needs efficient gadgets which will allow work pressures to ease. So, time and again money was invested in the latest as the need arose. For Clothes and essential necessities, we discouraged "brand consciousness" which helped reduce excessive outgoings on a single product.
However, a utility as a smart phone was enlisted in for all four individuals as a lot of learning happened through Google aunty and Blogging, Youtubing happened on our electronic friends. So we are a mix of "No-Brands but happy gadgets",for they serve a purpose. Another important participation was when we went #Banking and #Saving. Initially, when we saved, we went in for Fixed Deposits in each member's name. All four of us know what is being saved, where and why. All of us know when each deposit shall mature and if we will reinvest, continue or Use it for a certain commitment. So, if one of us hesitates at the last minute while buying a certain thing we wanted, the kids will frown affectionately and say "We saved for it, we deserve it." It is our Mantra now.
Kids have their money fundamentals firmly in place and ask for only what they know can be accommodated. No sense of entitlement of "You have to" or "You do not spend on us" complaints. The Elder one, barely 16 already began earning through blogging, has steady gift vouchers for his and family's expenses.
The younger one too looks up to creating an Earnable skill to collect his valuable currency notes. Money is not something on which we argue as a family. We earn, we value, we invest together so we can say to each other "We saved for it, We deserve it!"
-Sonnal Pardiwala
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