Ace Forgot To Bring Wallet

Our good friend forgot to bring his wallet today.

Everyone so worried that he dun have money.. how to eat lah.. will he be hungry lah.. (When I say everyone, I mean gong gong, zeng popo they all.. haha)

But leh, when he came home, our good friend said he had money to eat wor.

Apparently, he told his friends he forgot to bring his wallet and his friends said, "Why don't you borrow from the teacher.."

And so, our good friend borrowed $4 from the teacher!

That is not the best part... best part is.. he SPENT $3.50!

I asked him if he thought about how he is going to return all this money to his teacher.

Then he came back and count count count his money.. and realized he only had $2 left in his wallet!

So leh, it was time for naggy mummy to jiang dao li to Ace again.

Firstly, I told him because he has shown he has yet to understand budgeting and the importance of sticking to your budget, I will have to take away all the spare cash he has in terms of all the red packets he has recieved for his birthday.

Then I asked him where the $3.50 went to and found out he bought TWO BOTTLE of aloe vera water to drink. He bought the first one because he was curious and never tried it before and he bought the second one because he liked it very much.

So I explained to him also that money cannot be squandered because that is considered disrespect to money.

"Yeah lah yeah lah.. i know i know.." he said, "If you waste money, money will waste you.." Wahahahahhaha... actually I think the quote I used was "If you waste time, time will waste you.."

So I explained to him that to decide if you are wasting money, you must understand whether what you are spending on is an investment or not and whether there is value in what you recieve when you use this money.

For example, if you buy something to eat and it is to feel a need like you are hungry, that means there is value to it. Or if you use the money to buy a book that will learn something from it, then it is an investment because you can develop your brain.

So how do we decide if something is a waste? Well, if we spend the money and there is no value to it, then it is a waste lor.

And why is buying sugared soft drinks a waste?

1. He already has a bottle of water, so the money is not spent to fulfill a NEED.
2. He read a book about the human body and found out that alchohol is POISON to the liver and kept asking me to read to his dad and ask his dad to stop drinking. BUT, sugared drinks is POISON to your immune system and also our kidneys. So essentially he is paying money to harm is body.. so is that value?

Soft pattern finish.. his dad came up with a hard pattern and told him we will monitor his spending habits next week. If he is still going to drink sugared drinks everyday, we will still give him $10 pocket money but we will make it compulsory savings for him and he will pack lunch and bring water bottle to school everyday and not have excess to buy things he like or indulge in occasional treat.

So will Ace learn his lesson? Watch this space for updates.. :) hahaha.. 

PS: I whatsapp his teacher next time just lend him $2. Hahaha...

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