Money Matter

Remember the time when you jealously guarded that garish-looking clay made gullak into which all your money went? Though those inelegant gullaks have grown into smart ceramic piggy banks,one wonders if the practice of saving has.

Written by Jitendrakumarsingh | Published: February 19, 2010 3:20:10 am

A few follow the time-tested method of making children earn their pocket money,to teach them its worth

Remember the time when you jealously guarded that garish-looking clay made gullak into which all your money went? Though those inelegant gullaks have grown into smart ceramic piggy banks,one wonders if the practice of saving has. Children today are loaded with grossly huge sums of pocket money. Add to these parents readily meeting their wards’ every fancy,little do children realise the need for saving or the worth of the penny. However a handful of them do believe in spending the hard earned money as parents make them realise the worth of it. It may be a promise or a deal but some parents are encouraging their wards to realise the worth of it from an young age.

“During my exams,my parents use to make me read for extra hours,with the promise of giving me Rs 100 a day as monetary gift,” recollects Nidhu Singh,a class 12 student.

Apart from a significant outcome of savings,children also get to learn the worth of money,as Aravind Kamthe explains “My son wanted to buy return gifts for his friends. And,when I asked him to buy them with his savings,he chose his gifts after careful scrutiny of the price tags. They also learn to be careful while handling money because they understand the distress behind the loss of something purchased with their own money.”

At times it is the extra money that provokes younger lot to latch anything that is coming their way after study. As Rajiv Chauhan says,“My father always encourages me to help him in his official work and for that he always gives me money to watch a movie on weekend. Not bad at all to spends spare time of one or two hours learning and doing something new for pocket money.”

However,in today’s materialistic world most parents pamper children with generous allowances.

Promoting children to be conscious towards the environment can also be a good idea,like watering plants in the spacious garden,taking care of house and vehicles as sometime there is no one to look after,as Samrat Choudhary puts it,“Watering the plant in my garden is new job for me and as it brings happiness to them and later they just give me enough money to be fancy with friends.”

A student Rishi Dhawan says,”I bought Nike shoes yesterday and I feel that pocket money does make you responsible only if you keep a check on how much money you have spent and tell your parents what you are buying.”

What you can do

* Gardening

* Dusting the house

* Helping in the kitchen

* Washing vehicles

* Buying groceries

* Arranging wardrobes

* Taking care of younger siblings

For all the latest Pune News, download Indian Express App