Teaching kids to value what they have!

I cannot tell my daughter ‘when I was your age I did not have that’. I actually had all those things that technology could provide – camera, music system, etc. while in school and then in college. I had access to even better cameras – my uncle and dad had them. So really nothing to tell my daughter ‘you are privileged’ . However, the following things help.

  • Get your children to do some research on charitable organisations and choose which organisation they wish to support
  • Kids do not have money, but ask them to use their time to do research into various alternatives, Google helps!
  • Involve them while planning your travel – booking tickets, comparing hotels, etc. – learning the process helps
  • Do not buy them something every time they ask for something, teach them patience and DENIAL.
  • Teach them every thing has a price, and if you use it well, YOU create value – Barbie doll or whatever.
  • Let them handle all the payments – at the shops, paying the servant, – let them UNDERSTAND ‘everything has a price’
  • Take them to the old markets (Crawford market in Mumbai) and feel the heat, bargaining and see sheer volume
  • Ask them to make a budget for the servant’s house and discuss it
  • Remember kids ‘catch’ what you do rather than listen to your sermons.

Recently Justin Beiber performed in Mumbai, and I had a discussion with my daughter about the tickets pricing. I was happy to buy her a couple of tickets – but she did not want to go. She choose to use that money more ‘sensibly’ – as she put it.

So whether it is choosing a dress, choosing packs for renewal of phones, or doing charity, children can play a role. Once you teach them the process – and do the rigor yourself, they do understand the ‘value’ part of life. Once you have taught them that, teaching value investing is easy. Or I hope it will be in the forthcoming years.

 

Related Articles:

Post Footer automatically generated by Add Post Footer Plugin for wordpress.

2 Responses to “Teaching kids to value what they have!”

  1. Beautifully expressed.
    Maybe it appeals to me because I have children in a similar age-group.

  2. I am asked my 6 years old kid to save as much money as he can in a piggy bank and when its full, he can decide what he wants to buy from it. So I hope this will make him understand value of Saving money and buying something useful with his hard saved money.

    And as he grows up will try and get an updated version of this

Leave a Reply

This blog is kept spam free by WP-SpamFree.