Making kids understand value of money! – Part 2

Read Part 1

In last blog we read that my son wanted a Nerf gun. Giving Nerf gun was not a big deal for me but making my kid understand the value of money was very important. I had found the solution to this problem. I had suggested my son to buy the gun with his hard earned money. Read on to know how.

Me: That’s easy enough. I will give you a deal. If you like it then you can accept it. Why don’t you iron your own clothes? I pay outside laundry-man at the rate of Rs 6 per cloth. I will pay you at the same rate for the clothes you have ironed during the month. We can maintain a diary and note number clothes ironed on each day.

Son: But I don’t know how to iron clothes. 

Me: Oh! It’s not at all difficult dear. Me and your father would teach you how to iron.

Son: But what if I iron the clothes, earn the money and you refuse to buy whatever I say. 

Me: That’s a promise. I will not refuse or detain you from buying whatever you like. If I feel something is not appropriate as a mother I will tell you my opinion. But the final decision will be yours and it will be binding on me and as well as on your father.

I interlocked little finger of my right hand into little finger of his right hand. That was a gesture of promise which cannot be broken by either of the parties. This was sufficient to convince my son. But I was not done yet. I also told him one more condition that I would not hand over the cash to him. We would accompany him wherever he wanted to go for shopping and we would pay directly to shopkeeper. I had put this condition for 2 reasons. First, he shouldn’t carry money in school for showing off among his friends and fall victim to some untoward incident. Second to maintain transperancy. It shouldn’t so happen that we have disallowed something and he spends money on such things without our knowledge. We had full trust in our son but at such young age taking due precaution was our responsibility as parents. Let the kids venture far but not too far.

My son understood the full scheme. He was not too sure about whether he should go for it or not. Next 2-3 weeks went by without mentioning either of the Nerf gun or ironing. One Saturday my son declared that he was ok with my proposal and wanted to learn ironing. We immediately got a brand new Murphy Richards iron. My husband taught him how to lay table for ironing, how to adjust the temperature of the iron depending on material of the cloth and finally how to iron different types of clothes. We advised him to iron his clothes under our supervision only. We had to help him initially in turning the clothes and folding them. But in short time he mastered the art. He was now eagerly waiting for first pay day.

Follow my blog to know whether my son would be able to buy his beloved the Nerf gun with his hard earned money. (To be continued..)