Have you ever tried giving your child the liberty of spending his own money? Or do you prefer managing his expenses? In these times, do you think your child would be more responsible when it comes to money when there are all these toys, games, and other tempting things they can buy? Tang created a social experiment designed specifically to determine what 100 Pinoy kids would do with 500 pesos.
The Tang Social Experiment: What’s the Big Idea Behind It?
With today’s fast-paced world revolving primarily on the media—TV, the Internet, and other technologies—more and more kids are being raised in an environment that promotes the idea of instant gratification. The issue stems from the growing concern that in a world that “spoils” children with these accessible and more immediate forms of enjoyment, whether they be toys, games, or whatnot, are our children’s sense of responsibility and independence at stake? What would be their set of priorities?
Setting Up The Stage
100 Pinoy kids were invited to a controlled environment, built to emulate a shopper’s paradise feel for kids. Each kid was given 500 pesos which he could spend however he wishes. There was a variety of toys, school supplies, snacks, there was even an option where the kids could opt to donate the money to charity, or to simply save the money they received.
More than half of the 100 kiddie participants in the social experiment predicted that their kids would most likely spend the 500 pesos on toys and snacks, believing that they were too young for responsible decisions.
Kids Really Do the Darndest Things
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Get this. The moms were wrong. Out of the 100 kids, 99 saved most of their money. Many donated to charity. Half of them bought school supplies. One kid spent all his money on food and toys—but to give as gifts to his brothers and sisters. The moms were shocked with the results. When they heard that most of the kids decided to use their money for personal savings or for the family, they couldn’t help but break into smile. “It was very heartwarming to see how the kids reacted and what they decided to do with the money. I was very surprised and actually quite impressed that my son is responsible enough to know the value of money and opted to save it instead of spending it on toys,” said one very surprised mom.
To learn more, check out Tang’s “Do you know kids?” social experiment video by logging on to www.knowkids.org.ph