Teaching Children What Counts

Parenting is not just about teaching children academics or how to behave but also to help them with tools that will prepare them better for their future. Antara Pandit explores the ways parents can help children understand finances

- Antara Pandit

It’s never too early to teach your children about the tool of money. Teach them how to work for it and they learn pride and self-respect. Teach them how to save it and they learn security and self-worth. Teach them how to be generous with it and they learn love. – Judith Jamison

My 5.9-year-old son Dev first came into possession of his Hello Kitty piggy bank when he was 3. My husband Advait and I had mutually agreed that this was a good age for him to start collecting small denominations, to slowly ease him into the concept of money, why it exists, how it is used and where he fits in. To inaugurate it we gave him Re. 1 coin and going forward, whenever we had any change, we kept filling his piggy bank. After a few weeks he graduated to collecting Rs. 10 notes as well. He broke his front tooth when he was three-and-a-half, so the tooth fairy was kind enough to leave a Rs. 100 note for him. The excitement and wonder on a child’s face are enough to brighten up a person’s entire day. Dev was awestruck with his gift from his new best friend, the tooth fairy. One day the Hello Kitty piggy bank was full right to the very top, and coincidentally he received a house piggy bank as a return gift that very same day. This led to an absolutely thrilled and lucky toddler who was now in possession of two piggy banks!