Raising Children Wisely - The Book of Happiness in Life for Parents - The Complete Book of Wisdom in Raising Children

Author: Liu Chaoping / Country: Mainland China
Publisher:
Publish Date: 2006-07-01
Features: Cultivating children's habit of being thrifty from four aspects
Nowadays, many parents are extravagant, seeking enjoyment and consumption; some spoil their children, fulfilling all their material demands; others provide meticulous "all-inclusive" services, leaving children with little labor training and poor self-care skills. Under the influence of this "big climate" and "small climate," the seeds of extravagance and waste are sown in children's hearts. In reality, only children who are thrifty will accumulate wealth in the future and become true rich people. To cultivate children's habit of being thrifty, parents can start from the following aspects.
First, give children money with restraint. Regardless of the child's age or the parents' financial condition, allowances should be controlled within a range that the child can manage. Generally, there is no fixed amount for allowances, and parents should budget based on the child's daily expenses. These expenses mostly include snacks, lunch fees, transportation costs, and the cost of purchasing learning necessities. Additionally, parents should encourage children to save, so they can be thrifty and strive to have money left over.
Second, train children to use money purposefully. Most children have this problem: they spend whatever their parents give them and ask for more when it's gone, with no restraint in spending. To solve this, parents should best work with their children to create a spending plan, such as how much to allocate for learning supplies, how much for daily necessities they like, and how much for snacks. This can prevent children from spending recklessly and cultivate the habit of using money wisely. When a child exceeds the plan, it's best to discuss it with them and eliminate optional expenses. At the end of the weekend or month, let the child compare the money spent against the plan, and allow them to manage the saved money.
Third, give children a preview of adult living expenses. Although children are exposed to money, they rarely experience the true life of adults. As a result, when they grow up and need to pay their own utilities, rent, and property fees, they often feel helpless. Therefore, parents should best start giving children opportunities now, such as letting them buy groceries or pay phone bills, so they understand how household money is spent and what expenses parents pay each month. This way, children get a chance to learn about the family's "finances" and develop a habit of being thrifty through these small tasks.
Fourth, take children shopping to demonstrate rational consumption. A father once took his 6-year-old child to three stores to buy a cheap yet high-quality bicycle. In the end, he used the saved 10 yuan to buy a ping-pong paddle that the child had longed for. The father's approach was smart—he set a good example for his child, teaching them about price differences and rational consumption. As a result, when children manage their own money, they will also pay attention to being thrifty.
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