Get Real With Money: Saving Up for X-box or Smartphone [Delayed Gratification]

After lunch, the kids happened to want to visit a toy store today (Kiddy Palace). As we agreed to go in without buying anything (because I wasn’t going to buy them anything), my eldest said he wanted to check out if there’s anything he can buy with his piggy bank money. He has around $35 in savings. I said okay and we entered the store.

The two younger brothers just went window-shopping whereas my eldest was in the store looking for something to buy.

After fifteen minutes in the store, he told me “I think I’ll just save up for my phone or X-box.” I was quite surprised to hear that he has already practised some delayed gratification.

I told him he could have 2 savings account, one for spending in the near future and one for a long-term expenditure like x-box. He told me “I don’t need toys mummy.”

Well! My 8-year-old is determined to save up for his thing! I can’t tell you how proud I was at that moment.

So I offered to him a deal, that my husband and I would help him with half of the cost of whatever he was buying. He only had to save up half the cost.

So of course, what do you think comes next? Work work work work.

Let’s get some lessons on working son! Then we shall come back and update you.

Till the next post!

Lili

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