I am a squirrel saver! Since young, my parents have been buying me Piggy Banks, and they have been encouraging me to make a daily ritual of putting my money into them. Growing... READ MORE
A Father's View on Parenting & the Family:
I am a squirrel saver!
Since young, my parents have been buying me Piggy Banks, and they have been encouraging me to make a daily ritual of putting my money into them.
Growing up, we did not have a lot, and these savings became a way for me to save for my birthday present! Therefore, in my mind, each time when I put my coins into the piggy bank, I knew that I was one step closer to my new toy. Reaching my goal was made even more exciting, when I had to carry my heavy Piggy Bank down to the local POSB, and hear the coin machine count my hard work. I felt tremendously satisfied, when I saw the final figure on the coin machine, and even more excited when I saw my account balance increase!
It was in those times, that POSB came and encouraged students to save with the POSB National School Savings Campaigns. Remember those stamp cards? If students were able to complete the stamp cards, they will be rewarded with $2 or $5 into their accounts. Just like any young child, the “carrot at the end of the stick” motivated me to save, and with all my friends doing the same, there was a healthy motivation for all of us to do the same. When our Parents reinforced the message, we got even more into the savings habit! In fact, the whole initiative was a great success and it played a great role in contributing to the economic growth of the nation.
The value of having a savings account, becomes even more important, when we started a family. The expenses are ever increasing, and sometimes we just need turn to our savings, for that little extra on a rainy day. Wanting to prepare my kids, for the same trials, my wife and I have started to instill the same values into our children. We give them our spare change to put into their Piggy Banks, and they are allowed to use the same money to buy each other birthday presents.
The Grandparents have also came into the picture when it comes to saving! For our eldest, whenever she does well in a Spelling test, she gets extra pocket money from the Grandparents. Naturally, the kids have learnt how to put that extra money into their piggy bank!
Next year, Nadine will be entering Primary 1, and she will be getting $1.10 for her pocket money. Besides giving the 10 cents to her church offering, she will be spending 80 cents for her recess. Following in her siblings footsteps, she will be saving 20 cents everyday. The older kids get more, and the current rate for our Primary 3 girl is $1.40.
Adults and Children, always seem to respond well to Rewards. If you are like me, and are constantly encouraging your children to save, take part in the POSB survey. Share with them your saving tips, and you can be one of the 10 lucky winners who will receive $50 NTUC vouchers. Hurry! The survey ends on 22 August Friday.
Click on the link to join the POSB Savings Survey!