It's time to teach simple calculation and money management as she (my eldest girl) is starting Primary 1 next year.
We started with simple counting exercise. Besides counting, we sum different combination of one dollar. Then, she traced the coins. We continue to play. We take turn to be hawker and customer. This has helped her in counting especially addition and subtraction. After playing for 2 days, I continue to prepare her on saving versus spending.
As she was preparing for a school visit, her school asked her to bring SGD 3 (combination of SGD1, 4xSGD0.20, 1xSGD0.50, 7xSGD0.10). With my previous experience with her, she need to learn not to spend all her pocket money. So I initiated by asking how much she plan to spend during her school visit. She said she plan to buy chicken rice, ice milo and an apple. So we estimated it will cost her about SGD 2. With that, I asked how much she can saved by deducting SGD2. She took sometime to count and answered SGD1. I continue to asked is there anything that she wants to eat? She said 'mamee' which is a junk food. It will cost her another SGD 0.30. With that, i asked how much can she saves? She answered SGD 0.70.
So I continued to clarify whether is it better to save more or little. She answered little because with money she can buy things she likes. So I continue to compared SGD 1 and SGD 0.70 using more or less. I asked which is more, SGD 1 or SGD 0.70? She said SGD 1. So which is better? SGD 1 is more and SGD 0.70 is less. She pondered a while and answered SGD 1. So I asked, which is better, more or less? She said, more. I concluded that it's important to save more than spend money on things that's not important (like mamee, it's junk food). The more we save, the more opportunity we can utilize our saving to better use.
Few things I learnt here:
1. Children at this age (5 years old) are very instant. When they have power to purchase things they want, they will buy. They can't utilized judgement yet. Their judgement is 'child like' judgement. If I want that, I will buy it. Period..
2. It's important for parents to role play with their children in new situation. The more we role play, the more 'control' possibilities come up and we, parents gets to control the thinking and the outcome before they step to the real world. They carry the benchmark they learned with you (parents) and compare when similar situation arise.
3. Be patience. When they starts counting money, it can be very confusing for them. At primary level, I feel they need to know combination of coins to make it a dollar. So be patience and play with them. Help them identify a few different combination of a dollar.
4. Continue to follow up and play money game.
After her school visit, she happily told me that she used SGD 0.80 for her fish ball noodle. She didn't buy any drink because she has water with her. Her eyes brighten when she said she saved SGD 2.20. I am so happy for her.