Friday 25 April 2008

Money Management for Ryan

Ryan will start primary school (standard 1) next year and until now, he has no idea and does not know the value of money simply because he does not need to deal with it. We buy things for him, all his meals are prepared at home or supply by the kindergarten and he is just not expose to money.

I thought it will be a good idea to educate him now so that by next year, he can at least go and buy himself a meal in the school canteen if the needs arise. I started of by buying him a wallet for him to keep his coins and notes. Papa will give him a RM 2.00 allowance per week which he can use to buy tit bits or toys (with permission of course) and he is responsible for his wallet and the content. He chose his own wallet and as you can see it an-ultraman-theme wallet (are you surprised?).

How's the progress so far? Well, he emptied his entire wallet and gave all his monies (RM2.70) to the ting-ting-man (an uncle on motorcycle peddling breads, snacks etc) and come around our house almost every evening for a RM0.30 snack. He has misplaced his wallet countless times but somehow manage to find it. He will remind his papa for his RM2.00 weekly allowance......so I would say that we are making good progress.