Issue 2
What’s HoT?
Explore
AMJ 2017
I. Explore
Head or Tail
Money is a mere number today as most
transactions happen electronically.
Children hardly see any physical
transactions, except at times witnessing
the magic of casting a spell at the hole in
the wall to get money called the ATM.
the value of money and make sane
financial decisions as they grow?
Pocket Money Training
Making and Managing Money today is what
hunting and gathering was in the Palaeolithic
era. It is the force that
dominates most of our days
The media-dominated, peer culture we
are raising our kids in,
works in opposition to
and decisions today. It thus
kids developing skills
becomes imperative to train
like - responsibility,
children to master this force
goal setting, self
and become powerful to
discipline, drive, and
claim the life they deserve,
empathy - the skills
now and in future.
necessary for their
wellbeing - financial Money from the Hole in the Wall Pocket Money Training is
or otherwise.
that money laboratory in
Imagine what will happen of kids with
which children can experiment and fail,
learn and acquire the skills and attitude
privileges who grow up getting what they
that will enable them become
want, when they want - without hard work
or painful wait - when they enter the real
independent, in a risk-free setting.
world, and are on their own.
3 stages in Pocket Money Training:
Rich kids don't necessarily end up rich
1. Role Model
Debt, Student Loans, Mortgages,
youngsters living with their parents longer
are the first world problems faced by
families across the world. Children from
well-to-do families are staying financially
dependent on their parents, in extreme
(not few) cases, way until their thirties.
How can our kids, living in abundance
and a virtual financial world, appreciate
Both parents discus among themselves
and align their approach to money and
related themes; role of money, attitude to
spending / saving, risk tolerance, values
that are important. If there are differences
among the parents in their approach, it is
important to understand what are the
negotiable and non-negotiable elements.
5