It’s never too early to teach your child money smarts. For Magandang Buhay co-host Jolina Magdangal, parents can inculcate good spending (and saving) habits in their kids as early as five years old, just like what she and husband Mark Escueta are doing with their firstborn son Pele.
At Jolina’s recent contract signing event with UNO Factory Outlet, the mom of two told Pep.ph that they have an agreement with Pele with regard to shopping: there’s a ‘Look Day’ and there’s a ‘Buy Day’.
‘Look Day’ is when Pele can do what most of us refer to as ‘window shopping’ — he can enjoy looking at the toys from the shelves.
‘Buy Day’ is a happy day for Pele, because this is when he can pick out a toy that Mom and Dad will buy.
Jolina and Mark are training their firstborn to develop self-control, especially when it comes to buying things.
“Tinuturo namin sa kanya na not every day na lababas tayo o not all the time na lalabas tayo, buying day.”
But when ‘Buy Day’ comes, Jolina says they do keep their promise.
Still, though, the couple refrains from splurging on ‘Buy Day’ to set a good example for their son. Even if they have to buy a toy, they set a budget for Pele and let him decide what to get — as long as it would fit that budget.
“Minsan bibigyan namin siya ng PHP200 or kung magkano lang. ‘O, pagkasyahan mo diyan, Pele. Yung kasya lang diyan. Kung hindi na kasya diyan, hindi na natin mabibili.’
“Gagawin niya and, surprisingly, tanggap niya. So kahit ganoon kabata, puwedeng-puwede mo turuan,” she explains.
The 40-year-old actress credits her parents for teaching her to be prudent with money. She started in show business when she was 15 years old and was already earning from TV shows and recording contracts at a young age. But her parents managed her income well and taught her the value of hard-earned money — something she hopes to teach Pele and daughter Vika, 1 year old.
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But it’s not all about being ‘matipid’; rather, it’s knowing when something is ‘sulit’, according to Jolina.
“Feeling ko sa ngayon, lalo na kapag may family ka, alam mo kung ano yung sulit, ano yung mura. Dapat alam mo yung difference nun.
“Natutunan ko mula nung nagka-family na ako na... hindi minsan nadadaan na parang mura lang. Hindi basta mura.
“Kailangan praktikal, sulit siya, at saka quality siya. Lalo na para sa mga anak ko.
“Mula nung tinuro sa akin iyon ng parents ko nung bata ako hanggang sa nagkaroon ako ng sarili kong family, mas naramdaman ko bakit kailangan maging praktikal.”