Value of Money

Lately, I discussed with my son about value of money. As he is a very playful boy, he never pays attention on how we, as parents, spend our money. Therefore, he is unable to tell us exactly how we go about. However, he did have a comment on that we will not simply allow him to buy anything he wanted.

“This is a good comment.” I reply, “Do you understand why we did that?” He kept quite with tears in his eyes. I know he was unhappy what we have been doing but have no choice but to accept unwillingly. This is because he did not understand the value of money. This is our responsibility, as parents, to let him know what value of money is all about.

This is an example I quoted to him and, finally, he understand. Let’s assume a bottle of mineral water cost $2. How do we judge whether that bottle of mineral water has a value of $2? If you are not thirsty, the $2 spend has no value because you do not need it. However, if you are very thirsty, by spending $2 for a bottle of mineral water is invaluable. In other words, the same thing may carry different value under different condition.

Therefore, we should always evaluate the worthiness of our spending; think twice before you spend; shop around first before we spend. Let us all be a smart consumer.