How much $$$ ...

When it comes to money, I wonder what our children spend with their allowances. In fact how much should they get for their allowances? Does it depend on the age and gender? As youth spending continues to rise, I am putting my drained-effort-brain to figure out just what Bruneian children are buying with their pocket money.

I found out that some children are given allowances according to their age. For instance, if the child is between ten and fifteen, he/she could be getting one or two ringgit a day; and more if the child is above sixteen and so on. Therefore, that sums up to about forty to eighty ringgit per month for the daily school allowances per child; imagine if there are more than three siblings!

Besides, school allowances, do these children get any other allowances – like extra weekly or monthly pocket money - that they can spend or buy whatever they want when they are out with friends or even with families?

I am sure with this extra pocket money; it increases their overall spending power. I guess the biggest part of their ‘heavenly’ allowances would go to food with movies comes in at a close second and followed by clothes, gadgets and so on. But some children are smart when comes to dealing with money. Some are spending right along their gender lines. Though at times it is fascinating to see how they are spending their so-called extra cash, parents should also instill the habits of savings at a young age. It is quite-an-alarming fact that there are some children who do take money for granted – spending lavishly and unwisely. They can just act as if their parents are running a money factory at home.

Today's kids, even those as young as three can wield an enormous amount of spending power. As the amount of money in the kids' wallets increases, it falls on to the parents to figure out how to teach their kids to responsibly save, budget and spend their cash. They should be taught how to manage their money and how to set priorities at an early age. These include allowing them to test their own financial limits and learn the value of money so as not to spend on frivolous things.

You can never know how’s the future economy will be like. If these children do not learn the value of money now, they can never survive when they enter the real world or working life.

Just sharing my concerns as it also serves as a reminder to me. Alhamdulillah, having taught the responsibility of savings at a tender age, Kimchi understands the importance and value of $$$ and learn not to be an impulsive spender.

Is 10 cents worth keeping?

What would you do if you see a 10 cent coin on the road? Would you pick it up or ignore it? Some would say 'finder's keepers', 'not mine', or may be embarrassed if seen picking up the 10 cent coin..as if you don't have money anymore or being greedy kiasu...or even seen like a beggar.

Well, for a fact, a 10 cent coin is still a legal tender. This 10 cent coin may some day help you out in times of emergency. Emergency? How can that be?

For those who don't like to carry coins, take this scenario as an example: you are at a shopping mall, suddenly you need to make a phone call and your handphone went dead. You turned desperado when you have no coins in your purse...all notes and credit cards only! Ahaaa...suddenly, while searching for other alternatives ...you saw a 10 cent coin on the ground. You are shy to pick up but yet the temptation from the 10 cent coin's looks is talking to you as if asking you to pick it up! You need me! Yeahhh surely you will put aside your pride and in a quicky dash pick up the coin to make a phone call on the public phone. Hmmmm now now now...still have kah the coin public phone? I thought all now use phone cards baah?? Well, I am sure there are still a few ones left...aren't there?

Anyway, if you don't use it for phone calls, you can still save every 10 cents coins that you have at the end of your day or shopping trips - in your cute or techno piggy bank. There's a Malay saying 'sikit-sikit, lama-lama jadi bukit' - literally translated, it means 'bit by bit, soon it will be a lot' hehehee...

Imagine this, if you save an average of three 10 cent coins each day - that will be 30 cents, by the end of the month you will have $9.00 worth of 10 cent coins...err I hope my Maths is correct..lols...in a year will be about $108.00. Can go Miri already hahaha...This amount is just an addition to whatever amount you have put aside for savings and this amount will some day come handy for you too...like when you are broke towards end of the month. That $9.00 or $108.00 will help you to buy petrol, nasi katok or cup of coffee...or you can even help out any family or friends that need some extra cash :)

If you don't use it, then keep saving that 10 cent coins and you may end up being richer by hundreds if not thousands of dollars. Recently, I gave this tip to a blogger and I am glad she appreciated it :) ..if you save more than 30 cents a day, you will definitely end up saving a large amount of $$$. You can even teach young children to save this way...let them learn the hard way. It will give them a sense of responsibilty and they will learn not to take for granted by being spoilbrats in getting easy money for their pocket money...

And if you are already rich as a result of saving 10 cent coins, don't forget to belanja (treat) me OK! lols :D