Wish List

The holiday season is approaching.  My girls used to feel deprived during this time of the year.  The reason is that after the holiday break, all their friends would talk about what they got for Christmas while they had nothing to show for.  Some people might think that we are unkind by not celebrating their birthdays or Christmas with presents.  Yet, we don’t want them to take everything for granted.  When gift giving becomes a routine, some children don’t appreciate what they get and might feel resentment when they don’t get what they want.  On the other hand, if they put some efforts into getting what they want, they not only appreciate what they have, they also become more judicious in selecting what they want.  With that in mind, here is what we did to make our children feel less deprived….

Two years ago, we had a family meeting.  We asked them to write down a list of 5 things that they really want and the estimated cost for those items.  Then, as a family, we brainstormed on ways we could save money so they could purchase the things on their wish list.  For example, we spent about $10 per week on unhealthy snacks and a two-night vacation might cost us $300, etc.  By not going on vacation during Thanksgiving break and not buying any snacks for a month, we could save $340 for their wish list.  In order to encourage them to keep on saving, we used a graph chart to tally the money we’ve saved each week.  After we saved up enough money for the first items on their lists, which were pillow pets, we went to the mall and had them choose the ones they wanted.  In a few months, not only did we buy the top 3 items on their list (the most expensive one being the Nintendo DS), but we also got rid of the habit of eating some unhealthy snacks! 

This year, we asked them if they want to go on vacation during Christmas break or use the money to buy what they want.  Guess what they chose?  The cash!  What comes next is planning, researching, and budgeting.  I would like to say that both girls decided to save some of their money but that would be lying.  Due to the differences in age and personality, one of them plans to spend all her money while the other insists on saving more than half of her share.  One of them even put her money with daddy’s to buy something more expensive but can be used by both of them.  I’m okay with either way because what matters is the learning experiences not the end result, like everything else in life!