My School Shoe
Only my mother takes me for shopping, my father never accompanied us. She gives me all the FREEDOM to choose my shoes; I can get whatever I want. But not once got the one which my mother chooses.
We have a liberty to choose school shoe model, only condition in school is brown strap shoes.
I usually get two, one for school use and another for my regular use.
I used to polish my school shoes with coconut oil which give more shine than a shoe polish, my grandmother proposals. Add on would be to keep it under sunlight, it will be much more shinier.
The day I bought the shoes it will be near my pillow, next day at door step and following days on the street. Never in my childhood I keep my shoes safe will rip up; I will do it intentionally to get a new one.
Seeing this, My Father not my HERO by then but NOW, started allotting exactly Rs 500 for my footwear per annum. He was very particular, if it’s torn, I will have to stitch and use it, but NO NEW footwear within a year. Also, like earlier the same FREEDOM was given to me, to get whatever I want, but through BUDGETING. Directly it’s my money NOW, there comes the responsibility that I have to use it properly.
For all, I am not an expert in finance neither my father!
And the story never ends here…
My father’s approach won’t work for me; following it with my son. Yes, He is into Gen Z.
He too have his FREEDOM to decide whatever he want, however I have slowly inculcated the BUDGETING practice in him in a different way, certainly I am a Financial Planner now.
If he wants 100 bucks I give it to him but with a spin.
After his entire spending if he brings back home 30 bucks, I will further reward him with 30 bucks. So that he can fill his piggy bank with 60 bucks. Now he is 8 and he knows what is essential for him and what is not. And what he dreams to get with his savings is a big tale to narrate.
For Good, encourage your children, give them a space to take a decision, allocate a BUDGET, allow them to plan on their own and indeed this motivate SAVINGS.
