Train your child to save

Blog No. 13 - January 15, 2022

Saving money is my hobby since I got a job. If I want something to buy I will start saving money so I can buy it after. I was 16 years old when I started working.

I was working as a sales lady at the wholesale and retail store in Cagayan de Oro City. My salary was P80 or $1.60/day. I was living in the boarding house and I pay P700 a month. Since I got that job I started saving money so I can buy my first ever cellphone. I was aiming to buy the Nokia 3350 that cost P2500 or $50.I save money for 7 months before I was able to buy the phone I want.

However, when I had my own child, at the early age of 4 I tried to teach my daughter how to save. Whenever she got coins from her Grandpa or from her Godparents I told her to save them on her piggy bank. She was so happy to save her coins in her piggy bank and I told her that whatever she saves I will spend it for her school supplies. Aside from training her to save I also train her to value and take care of her things. Just like when she was in her Kindergarten years I always let her bring more than 2 pencils in school so she can let her classmates borrow them but then there was a time that she only had one very short pencil left in her pencil case. I asked her where are all her other pencils and she said that her classmates borrowed them and did not return it back. So I told her that I will not give her another pencil until she will learn to value her things. Since then she has already known how to take care of her things.

I let her save until in her grade school years. I also give her rewards if she got a perfect score in school at least she will strive and do her best in school in exchange for her hard work in school I gave her P5 or $0.10 per perfect score. She always does her best and she always got perfect scores on most of her subjects. She was so happy because she can save more. We always open her piggy bank every June so we can buy her supplies from her savings. In that way, she will also learn to take care of her things because we bought them from her own savings.

I remember there were times that I borrowed money from her savings especially if I'm out of budget and I needed to buy something like our food. I will just pay her if I got my salary.

She was in Grade 2 when I told her if she wanted to have her own business. As you know I am working in a computer shop since 2012. It's perfect for me to train my daughter to start her own business. I told her she can start selling some goodies like biscuits and candies at the computer shop since most of our customers are kids. She was happy to have her own business at the age of 8. My daughter was very witty when she was a kid. She would love to talk to other people. She even knows how to convince her customers to buy her products. At a young age, she already knows how to do marketing. Her business lasted for almost a year until I have to stop it because I was so busy at work and I can't help her to manage her business.

For now, I have already trained her how to earn money by doing noisecash. She's been a member of noisecash for a couple of months. Here is the link to her profile in noisecash if you want to know her https://noise.cash/u/Ashee. Despite being a busy student while taking care of her younger brother she always finds time to do noisecash. She was earning little by little and she's happy that she has her own income through noisecash. She is saving so she can buy her own cellphone. She's using an iPod. iPod can only access the internet through wifi since it doesn't have a Sim slot on it. The reason why she wanted to buy a new cell phone. For now, she stops doing noisecash as she can't still access the internet since we still don't have electric power due to the super typhoon Odette hitting our place. Hopefully, everything will go back to normal soon so we can continue to live the normal life we had before the typhoon. For now, I am trying to save my earnings here in readcash so I can still buy milk for my son. I am still active in noisecash but I don't do that much in noisecash anymore. For this time I invested most of my earnings from noisecash to my smartbch. At least I will earn a little profit from my small investment.

Closing thoughts

It's not how much you earn daily but it's how you train yourself to save. I am happy that I was able to train my daughter to save at a young age. Soon I will also train my son on how to save.

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