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> <channel><title>Comments on: Teaching Kids the Value of Money</title> <atom:link href="http://www.colinmcnulty.com/blog/2008/04/09/teaching-kids-the-value-of-money/feed/" rel="self" type="application/rss+xml" /><link>http://www.colinmcnulty.com/blog/2008/04/09/teaching-kids-the-value-of-money/</link> <description>My humble blog about fitness, health, diet (paleo and zone), CrossFit, PDR self defence, weightlifting, general life musings and occasional jollity.</description> <lastBuildDate>Tue, 07 Feb 2012 15:45:23 +0000</lastBuildDate> <sy:updatePeriod>hourly</sy:updatePeriod> <sy:updateFrequency>1</sy:updateFrequency> <generator>http://wordpress.org/?v=3.3.1</generator> <item><title>By: Colin McNulty</title><link>http://www.colinmcnulty.com/blog/2008/04/09/teaching-kids-the-value-of-money/comment-page-1/#comment-479</link> <dc:creator>Colin McNulty</dc:creator> <pubDate>Tue, 22 Apr 2008 21:12:15 +0000</pubDate> <guid
isPermaLink="false">http://www.colinmcnulty.com/blog/2008/04/09/teaching-kids-the-value-of-money/#comment-479</guid> <description>Thanks for the detailed comment Soraya.  It&#039;s interesting how different people can draw different conclusions from the same facts.
Doesn&#039;t your friends feelings of fear, vulnerability and aloneness justify the exact opposite of your point though?  I hate to speak ill of the dead, but if your friends parents had taught self responsibility and hence self assuredness, I would expect that whilst your friend would feel obviously bereaved, he should feel confident in his own abilities to cope with the big wide world out there.
There&#039;s a balance to be struck though of course.  Whilst I know that if I ever needed to, my parents would always be there for me, I wouldn&#039;t expect them to bail me out of every situation I blunder into, whether as a result of my own stupidity or not.
For interests sake, here&#039;s what we decided to do (it will most likely sound very harsh):
1) My daughter lost her money, it&#039;s gone.
2) My daughter, repaid to me the portion of the £10 that she gave away / lost, less what she spent at the play centre on food and drink.
3) We doubled her pocket money the week later, though that came with doubled responsibility in the form of household chores.
4) She doesn&#039;t know it yet, but in future all purchase of books will be subsidised 50%/
So whilst losing her savings, her ability to buy books has been effectively quadrupled.  I hope that was a fair compromise that not only reinforces an important life lesson but also encourages her own reading.</description> <content:encoded><![CDATA[<p>Thanks for the detailed comment Soraya.  It&#8217;s interesting how different people can draw different conclusions from the same facts.</p><p>Doesn&#8217;t your friends feelings of fear, vulnerability and aloneness justify the exact opposite of your point though?  I hate to speak ill of the dead, but if your friends parents had taught self responsibility and hence self assuredness, I would expect that whilst your friend would feel obviously bereaved, he should feel confident in his own abilities to cope with the big wide world out there.</p><p>There&#8217;s a balance to be struck though of course.  Whilst I know that if I ever needed to, my parents would always be there for me, I wouldn&#8217;t expect them to bail me out of every situation I blunder into, whether as a result of my own stupidity or not.</p><p>For interests sake, here&#8217;s what we decided to do (it will most likely sound very harsh):</p><p>1) My daughter lost her money, it&#8217;s gone.<br
/> 2) My daughter, repaid to me the portion of the £10 that she gave away / lost, less what she spent at the play centre on food and drink.<br
/> 3) We doubled her pocket money the week later, though that came with doubled responsibility in the form of household chores.<br
/> 4) She doesn&#8217;t know it yet, but in future all purchase of books will be subsidised 50%/</p><p>So whilst losing her savings, her ability to buy books has been effectively quadrupled.  I hope that was a fair compromise that not only reinforces an important life lesson but also encourages her own reading.</p> ]]></content:encoded> </item> <item><title>By: Soraya</title><link>http://www.colinmcnulty.com/blog/2008/04/09/teaching-kids-the-value-of-money/comment-page-1/#comment-475</link> <dc:creator>Soraya</dc:creator> <pubDate>Mon, 21 Apr 2008 10:24:06 +0000</pubDate> <guid
isPermaLink="false">http://www.colinmcnulty.com/blog/2008/04/09/teaching-kids-the-value-of-money/#comment-475</guid> <description>I would praise your daughters genorosity and kindness to her friend. These are characteristics to be encouraged. But as it wasn&#039;t her money that she was being generous with maybe only ask her to pay back half of the £5. I would also replace the money she lost.  If she is sorry then she has learnt that lesson and will not be so careless again. Isn&#039;t the real lesson here about being responsible?. If our children know how to be responsible they won&#039;t spend their rent money out clubbing. Our children should know that Mum or Dad will bail them out when they make mistakes. That is what parents are for. They are the safety net in what is otherwise a precarious and unpredictable world.  I don&#039;t think we truly appreciate how much knowing that our parents are there if we need them contributes to our peace of mind. We can always go home or turn to our parents if we need them no matter what our age. My friends Mum and Dad died a few years ago and he told me as well as the obvious grief he also felt afraid and vunerable. For the first time he was truly alone. There was no where that he could go if necessary where he would be guaranteed to be accepted unconditionally.
Knowing your loved must the best lesson a child can learn.</description> <content:encoded><![CDATA[<p>I would praise your daughters genorosity and kindness to her friend. These are characteristics to be encouraged. But as it wasn&#8217;t her money that she was being generous with maybe only ask her to pay back half of the £5. I would also replace the money she lost.  If she is sorry then she has learnt that lesson and will not be so careless again. Isn&#8217;t the real lesson here about being responsible?. If our children know how to be responsible they won&#8217;t spend their rent money out clubbing. Our children should know that Mum or Dad will bail them out when they make mistakes. That is what parents are for. They are the safety net in what is otherwise a precarious and unpredictable world.  I don&#8217;t think we truly appreciate how much knowing that our parents are there if we need them contributes to our peace of mind. We can always go home or turn to our parents if we need them no matter what our age. My friends Mum and Dad died a few years ago and he told me as well as the obvious grief he also felt afraid and vunerable. For the first time he was truly alone. There was no where that he could go if necessary where he would be guaranteed to be accepted unconditionally.<br
/> Knowing your loved must the best lesson a child can learn.</p> ]]></content:encoded> </item> </channel> </rss>
