Teaching Kids the Value of Money
In a world of instant gratification, teaching kids patience and the value of money is harder than ever. One click, and a toy arrives at the door. But an OMG offers a unique opportunity to change this narrative.
The "Goal" Concept
When you set up an OMG for a bicycle, you are teaching your child about goal setting. Instead of asking for 10 small things, they have to prioritize. "Do I want the cycle more than the video game?" This act of choosing is the first step in financial literacy.
Visualizing Savings
Show your child the progress bar on the Piece of Cake app. "Look, Auntie Sarah contributed ₹500. We are now 20% closer to your cycle." This visual representation helps them understand that money accumulates over time and through the generosity of others.
Appreciation vs. Entitlement
When a child receives 20 wrapped gifts in a frenzy, they often stop appreciating them after the third one. But when they wait for one big gift, and they know that everyone pitched in to make it happen, the sense of gratitude is profound. They take better care of that bicycle because they know its true value.
Use your next celebration as a teaching moment. It's a gift that lasts a lifetime.