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HOW TO RAISE A MONEY-WISE CHILD
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Table of Contents
Age 3-5
. . . . . . . . . . . . . . . . . . . 13
Cash is king . . . . . . . . . . . . . . .13
How cash came from bartering . . . . . . . 14
Understanding the value of cash . . . . . . .15
Lai see
. . . . . . . . . . . . . . . . . .17
Piggy banks . . . . . . . . . . . . . . . 19
Age 6-9
. . . . . . . . . . . . . . . . . . . .23
Practise what you preach . . . . . . . . . 23
Right attitude . . . . . . . . . . . . . . 24
Allowance . . . . . . . . . . . . . . . .27
Opening a bank account at “Bank of Parents” . 33
Incentive to save . . . . . . . . . . . . .34
Octopus card . . . . . . . . . . . . . . 36
Buying and shopping guide . . . . . . . . .38
United front . . . . . . . . . . . . . . .40
Money for chores or grades . . . . . . . . 42
Domestic helpers and family assistants . . . .45
Teach the lesson in time . . . . . . . . . .47
Age 10-12
. . . . . . . . . . . . . . . . . . 51
Opening a bank account . . . . . . . . . .51
Cell phones . . . . . . . . . . . . . . . 52
The world is a learning oyster . . . . . . . .54
Dealing with extremes . . . . . . . . . . .55
Money = Trust = Communication . . . . . . 56
Conclusion
. . . . . . . . . . . . . . . . . .58