From primary school to junior high school, I mainly learned my financial management philosophy from my mother. When I was a child, my annual income was the same as most, which was the Lunar New Year! A lot of profit, Dana will have thousands of dollars in the account, and the concept of financial management that my mother taught me started with an account book.
The beginning of financial management concepts: accounting system with in and out
At that time, my mother was the bank, and the money would be handed over to her for safekeeping, and then the amount of money would be recorded in this “number book”, because you know how much money you have, and it will be deducted after you use it.The concept of money coming in and out is very important for children, because when you know that $2,000 is the maximum you can use in a year, you will slowly know what is cheap and expensive. This concept must be established as early as possible!
After “knowing the price”, you will understand the “price”
In addition to keeping account books, you also need to understand what is the time to “get started”. Does it actually start with supermarket shopping? Don’t underestimate the activity of shopping in the supermarket. It is actually a place where children can learn about money.
When I was a child, I couldn’t throw things into the shopping cart when I went to the supermarket, because my mother would always ask: “How much does this box of Maltesers cost?” I might not take it seriously and say, “$10.” But she would say, “It’s $10.9, not $10.”Everything must be priced first. How to price it? The key is to “know the price”. If you go there a few times and pay attention to the rise and fall of the price, you will know when the “buying price” is.. If you throw things into the shopping cart without knowing the price, your mother will definitely fall out.
“Limited” pocket money inspires the desire to make money
When I was in elementary school, I had an allowance of $40 a week. How should I distribute it? When I was in boarding school, I spent most of my money on snacks. I spent $20 of the $40 on candy, and I spent a few mosquitoes on the bus. Sometimes I would rather not take the bus to save some money, which could be used to buy more expensive chocolates (again, food! Haha). From Form 1 to Form 3, I would have $100 a week, and by Form 4 and 5, I would have $200. In fact, the money is not too much, because girls have to buy shirts, so it inspired me to work hard to make money as a model!
Speaking of which, pocket money can also be used to learn how to allocate money. When I was in Form One, I invited friends to go skating in Taikoo Shing. I would go to UNY in the basement to buy sushi and share it with my friends. I also had to pay for the fare, and I had to prepare $1 to make phone calls (there were no mobile phones at that time).
Set budget helps children learn “what should be washed and what should be washed”
And if you want to save money, there is a trick to take your mother shopping haha! You can buy well-known brands, such as Dr. Marten’s shoes and ICE FIRE’s Jackets. Go to the place where moms go: SOGO, and you can save money and buy what you want. Back to the topic, in fact, in addition to keeping accounts, children also need to set a budget. I remember that I had to buy new shirts for the New Year. I saw a beautiful one-piece velvet skirt in the children’s clothing section of Xian Shi. The shape was beautiful and the hem was beautiful. I knew it would look good when I took a look at it, but my mother only set it for $200. Budget, use as much as you have budget, and don’t buy just because the children say you like it. This taught me the importance of “washing what you need”.
Did you get a YES card and learn a way to manage your finances?
↓↓↓My YES CARD collection↓↓↓
There are regular sparkles, star sparkles, and special editions. They are all available. When I look back at them, I feel like I bought them so crazy.
When I was in elementary school, I had a lot of expenses. I would go to Jardine’s Place to buy earrings, headbands, headwear, etc., but when I got out of control in middle school, I remember that I had more than $3,000 in laissez-faire money when I was in the second and third grades of secondary school. I bought a Jean Paul handbag in one go, the silver bar one, and I used up all the laissez-faire money I had for a year. (In dormitory life, you can only wear casual clothes on weekends, so you can spend extra money on shirts, pants, shoes, etc., which is a time to show your taste!) You must also get a YES! Card. There is a shopping mall on Sugar Street in Causeway Bay where many celebrities sell goods, and you can rent CDs… I remember going to YES! Station, I told the clerk: “I don’t have any money at home. I will buy it from home tomorrow. Please help me keep it.” When I got home, my mother was not at home for some reason and I couldn’t get the $2,000, so I asked Mimi (my sister) to borrow $50. I promised others to buy YES! CARD tomorrow. She said: “No.” I also asked: “Your sister, who is 7 years older than me, can’t borrow $50 from you now? Isn’t it true that our family has no money, so poor that we don’t even have $50?” She said, “Why did you agree to this if you have no money?” It was a wake-up call at that moment, and it was indeed a good truth. You must take care of your own money, no one is responsible for you.
