This Chinese New Year, I gave Little Edison a $200 ang pow. In my humble opinion, this amount is quite substantial for an almost 3 year old. And not forgetting all the other big ang pows that he’ll be getting from his grandparents and Godpa.
Little Edison may be too young to understand what is inside the ang pows that he received every year during the CNY. So, I’m going to teach him about money this year. We sat on the floor and we tore open all his ang pows. He was very excited to see the colorful notes on the floor. He looked at them and went “Wow, money money!”
I explained to him where money comes from – our salary, our savings etc – and what money is for – paying for the things we need and buying things that we want. I also explained to him how he should use his money – use some of them for his daily expenses and save some of them in the bank for the future.
As a yearly routine, I’m going to deposit all his ang pow money into his OCBC Mighty Savers account. I showed him his passbook and of course, he didn’t know what it is. Again, I explained to him that all the money that I save for him in this account is meant for his future education use.
I had no idea whether he understood me. It is still way too early to teach him the value of money. But at least, this will give him a vague concept that money can be exchanged for food or toys and can be saved. Just like what he saw in the supermarket – we forked out money in exchange for food and when we go to the bank to deposit our money.
Well, that should do for now.