Monday, June 11, 2007

Teach your child how to manage money responsibly

Recently, the government announced a pay-rise for civil servants. This is welcome news for this group of folks as prices of everyday items have gone up significantly, for instance, a glass of iced-milo has gone up to as much as RM2.00. Petrol is another monster and highway tolls are not called tolls for no reason.

A colleague was lamenting about her children requesting for an increase in their allowance. This has been twice in six months! They have been doing chores around the house to get some extra allowance. They have also been doing chores in their neighbourhood including some babysitting and gardening. At times, my colleague was wondering how her children spend their money and she is thinking about getting them each a debit card, probably
Teen Visa so that she can track their spending and perhaps help them manage their allowance better.

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