Thanx Denise Schipani for your invaluable comments on savings by kids. I have tried to instill similar behavior with my daughter too . So here goes another letter to you.
My darling Minx of a daughter,
After all, I myself never got an allowance. My parents taught me the value of money; they just didn’t do it by actually giving me any. The Ground Rules below do ring a familiar bell. I hope all parents follow the same to contribute a much much responsible future generation.
Treat cash with care. You have a way of treating money like a toy—hiding it, stuffing it into weird places. I’ll make sure you have a safe place to keep your cash, and help keep track of it.
Save some. Allowance shouldn’t just be for spending. I did set
up system like different piggy banks to help save up for the things that you really want and spend a part of it for the lesser fortunate thereby
inculcating a responsible behavior towards the poor and elderly. The better
half goes into your account which I have opened in your name with the local bank. And yes I see you are so proud of the system when you flaunt the Bank pass book to your Nanu n Nani and thereby securing a pat on the back (double interest).
Act the part. I refuse to “pay” you for chores (we all help out
because we all live here). But if you are mature enough to manage an
allowance, then I guess you are also mature enough to
empty the garbage, put your laundry into the washing machine, do the bed and
clear your study table of any chaos which you do with a lot of coaxing and cajoling but I am sure you will pick up the habit soon as a fish takes to water (smiles).
Maybe this allowance thing isn’t such a bad idea after all (winks).
Warm Blessings
Mom
