Children are a tough crowd to please when it comes to giving gifts. Their clothing size changes every few months, while their interests vary just as frequently. As such, many a gift-giver has resorted to simply giving children the practical and useful gift of cash, locally referred to as aguinaldo.
Now, parents may not know exactly when to introduce the concept of money to their child, but these cash gifts actually provide the perfect opportunity. Aguinaldos are usually given in reasonable amounts and only during special occasions - just the right arrangement to teach your child the basics of money management.
When to do it
In his book Rich Smart Kid, author Robert Kiyosaki wrote: “I am often asked, ‘At what age should I start eaching my child about money?’ My answer is, ‘When your child becomes interested in money.’”
Indeed, it’s never too early to teach your little one about money. The sooner a child begins to experience and understand the concept of money, the more prepared he will be when it comes time to finally handling his own funds.
Read the following to see how children usually approach and regard money, according to their age: