“My daughter is so nice, very prim and proper wherein she will never say no to a classmate or to a stranger if asked for money. I fear that baka maloko siya… kaya I want her to be ready in the real world.” – stated my by mommy client
Is this one of your concerns too?
This is very common to our culture as Chinoys, especially to our kids.
Yung mahiyain, sobrang bait na pwede silang maloko in the future.
That’s why it is very important for us Chinoy Parents to teach our kids how to be money smart.
I have listed here 5 more reasons why it is crucial for us to train our kids to be money smart.
Reason # 1 Protecting them from bullying
I am hearing a lot of stories that within the family members there is someone who is taking advantage of the other. Nakakalungkot ito pakinggan pero this is really happening nowadays. Getting a quote from my estate planner mentor, Atty. Angelo Cabrera, “If blood is thicker than water, money is thicker than blood.”
Let us avoid these things by empowering each and every child with financial wisdom and letting them understand their rights. This enables them to be protected from being bullied and be able to provide for their loved ones peacefully even beyond their lifetime, ensuring financial security during uncertain times.
Reason # 2 Shielding them from scams
Scams and frauds are prevalent in today’s world, and we want our kids to be savvy and discerning especially with the new online apps.
By instilling financial literacy skills in them, we arm them with the knowledge to identify and avoid scams, safeguarding their hard-earned money and ensuring their financial well-being, even when we, parents, are no longer around.
Reason # 3 Honoring our hard work efforts
Being Chinoys, we tend to work so hard, sacrificing everything just to give our ‘all’ to our kids.
By training our kids to be money smart, we ensure that they can make the most of our hard work by being responsible and strategic with their finances, preserving and growing the wealth we’ve built. This embodies the spirit of AngPao For Life – being able to provide for our loved ones even beyond our lifetime.
Reason # 4 Helping them achieve their dreams
We have high aspirations for our children, and we want them to live the dream lifestyle that we aspire for them.
By teaching them about budgeting, saving, investing, and smart spending, we provide them with the foundation to manage their finances wisely and work towards the future they deserve. This empowers them to be fully present with their future kids without the burden of financial worries, creating a legacy of financial security.
Reason # 5 Fostering independence and self-sufficiency
We want our kids to be independent and self-reliant, capable of handling their finances with confidence.
Start them young, as early as 7 years old. Let them experience earning money and let them be the one to use and spend it. In this way, they get to learn sense of responsibility and self-sufficiency, empowering them to make sound financial decisions and navigate life’s challenges with resilience. This equips them to face uncertain times with confidence and be financially prepared for any situation.
In conclusion, let’s prioritize financial literacy in our parenting journey and give our kids the invaluable gift of financial empowerment.
By equipping them with essential money management skills, we can help them avoid financial pitfalls, achieve their dreams, and become financially responsible individuals who uphold the cherished values of our culture.
Together, let’s pave the way for a brighter financial future for our Chinoy children, ensuring that AngPao For Life becomes a reality for generations to come.