Last January 3, Mike accompanied Arielle and Kayla to the bank.  It’s been a tradition for us to deposit the cash money that they received as Christmas gifts every start of the new year.  This teaches the girls the process of making deposits, makes them familiar with the bank atmosphere, transactions, forms used, procedures, etc.  This time, Mike made Arielle and Kayla do the deposit themselves which was via a computer screen first then, the teller. (They said they were no more deposit slips to be used.)  Arielle also deposited a cheque to Mike’s account.

The next day, January 4, Mike and I had to go to Manila first thing in the morning.  Mike asked Arielle to deposit a cheque to his bank account in another bank.  Kayla went with her.  Arielle was able to do the transaction without adult supervision.  The teller praised her for being able to know what to do and how to do it (She was told that she just missed writing down the branch of the bank. It looks like this bank had a different procedure, this time, with the use of deposit slips).  

Making bank deposits is important.  It is one of the many life skills we must teach our children, and I have more in my list that I want them to learn and need to teach to them! For those with younger kids, they may not be capable yet to make deposits or withdrawals from the bank, but you can already teach them about money and what the bank does by tagging them along the next time you yourself go to the bank.  Make it a mini field trip 🙂  Same with the grocery, bake shop, restaurant, hardware store, repair shop, etc.  

I like seeing and meeting kids who show independence and self-reliance at quite a young age, or at least, at their age level.  I’m not talking about “being advanced” here.  Just being developmentally age-appropriate, perhaps?  Essentially, this is also just one way that we make our LEARNING AND SOCIALIZATION REAL.

What life skills have you taught your children and how do you teach it to them?  

 

 


8 Comments

  1. Posted January 14, 2013 at 4:42 AM | Permalink

    I’m already planning on opening a junior saver’s club account for my daughter when she turns 5! My kids get cash gifts and sometimes I don’t know what to do with the money. I’ve also introduced the concept of earning money by working and my daughter is already thinking of selling books (like me!). I’ll be bringing her to our events to act as greeter and bagger so I can “pay” her 🙂

    • Posted January 14, 2013 at 10:03 AM | Permalink

      That sounds do-able (and cute, too!), Mariel! Yes, I think introducing them to the concept of “earning” money by “working” will also help them understand the meaning and value of a “job”. And how “services” is also something we pay for. Thanks, Mariel 🙂

    • Posted January 15, 2013 at 3:11 AM | Permalink

      Mariel, you can also maybe try opening a mutual fund account for the kids. 🙂 We plan to do that this year. 🙂 You can also buy stocks for them through COL Financial. 🙂 LOVE your post, Racquel! 🙂 God bless us HSing mommas!

    • Posted January 15, 2013 at 9:02 AM | Permalink

      Thanks for the suggestion, Tina, and for “LOVING” my post 🙂 Your support means much to me!

  2. Posted January 14, 2013 at 7:29 AM | Permalink

    Hi, Racquel! Nice! We started this thing when they were younger. Started it after the holidays years back when they received “aguinaldos’ from ninongs,ninangs, and relatives. On top of the cash gifts, they would also deposit the coins they would save from their piggy banks. And you would be amazed how those coins would sum up to big amount after grouping them into denominations. Now, that they are young adults, i also find it more helpful in terms of life skills, giving them daily(or weekly,depending on the situation) allowance. They get to budget their own money and save at the same time. It helps them to learn not just the value of money but also generosity and thoughtfulness. Like spending on the more important thing, choosing wisely, saving for future personal expenses,etc. But what would always thrill me is when they spend their own money buying gifts for a member of the family for birthdays, Christmas, Valentine, etc. And even treating the family for a simple snack or drink. I’ve also seen them contributing in the Church’s Sunday collection using their own savings without me telling them.
    Sorry, too long a comment, but just thought of sharing. 🙂

    • Posted January 14, 2013 at 10:10 AM | Permalink

      Hi, Ginnie! Thanks for sharing how you teach “money” to your kids. Makes me recall the time when I had those piggy banks before (literally, piggy!) and break them when they’re full na 🙂 Hmmm. parang I want to look for those kinds again. Hehe. Thanks again for sharing!

  3. Posted January 14, 2013 at 8:27 AM | Permalink

    Hi Racquel 🙂

    My husband and I already opened a savings account (although still under our name) last Dec. 2012 for our baby Zeeka. We plan to save alrady for her while she’s still a baby 🙂

    Great way to teach your kids about finances, racquel! I will do the same with my kids! 🙂

    Love lots,
    Ginger

    • Posted January 14, 2013 at 10:17 AM | Permalink

      Hi, Ginger! We also opened an account for our kids when they were babies or toddlers (at the most). Then, the tradition of depositing their Christmas money started followed by teaching them what money is and how it “works”. Thanks for dropping by and sharing your plans for your first baby…EXCITING! :))

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