He Already Knows How To Save

My son is just two years and six months old, yet I am amazed to realized that he already knows how to save money.  What amazed me more is, I haven't even started teaching him yet.

It all started sometime in January this year (2017) when he found an unused coin bank, with the face of Santa Clause on the side. I was surprised when he was asking me for a Peso. I was wondering what he wanted the Peso for. I did notice then that he was holding the coin bank.  Then he held it up and in our dialect e he said " 'lud 'kansiya" or "Sulod sa alkansiya" which means "Put inside the coin bank"

Seeing that, I happily gave him, not just one Peso but five pieces of one Peso coin. He smiled from ear to ear as he put the coins one by one. I gave him a five Peso coin unfortunately it wouldn't fit.

From that day on, I would give him a few pieces of one Peso coin, and would say "lud 'kansiya". I never put the coins myself. Rather, I give him the coin bank and let him put in the coins one by one.

Too Young to Understand the Value of Money?

I admit, he can barely count, but I believe he already understands that money is used to buy things. I sometimes let him give the payment when I buy something from a neighborhood store.  And seeing the joy in his eyes every time he add more coins in his coin bank, and sometimes he would exclaim "'amu 'warta!" ("Damu kwarta!")  which roughly means "Much money!". So I guess, at his very young age, he already understands the value of money. 

Starting the Saving Habit

The reason that I don't put the coins myself is, I want my son to form a saving habit as early as he is now ( 2 1/2 years old). Although, I never planned to start as early as now, but since it was him who started it, even before I could teach him, I did not want him to stop. By the time he could really count, I expect that he would be elated to realize that he was able to save so much already.

What's Next?

The next thing that I should teach him is, where to put his savings and make it grow. Maybe I'll teach him how to start investing in the stock market on his 3rd birthday?  LOL.

The Challenge

If my 2 year old son was able to start saving already, I hope you already did too, or should start now. In my previous posts, I posted a Save PHP at least30.00 a day challenge. If you have started on the first of this month, you would have at least PHP 930.00 by the end of the month, or if you did the PHP 50.00 a day challenge, you would have PHP1,550.00 by the end of the month.

Start Saving now!