You are reading the archives for October 2010.

Sports or education? What will you choose and why?

Games or studies??? Where should my child focus?

I wish there was an answer which could be easily implemented, understood and prove to be the right decision made years after our kids grew old enough to choose their career.

It’s a gamble in current scenario. Those who are well versed with the stock market gamble will know the feel and may be better able to take risks. But, there are not many risk takers when it comes to the future of their loved ones.

All of us want to choose that safe path for our children where at least long after we are gone; they are safe and sound financially. Other things like health, happiness, relations and passion become secondary.

And why not? We are not citizens of those countries like US and Australia where unemployment survival amounts are doled out till one get a job! We are not part of the culture where we live for only ourselves like many part of the worlds do. But if you notice, there is a deep relation between both the reasons mentioned above. Parents of those countries where unemployment doles are given out are the ones who can relax and not be bothered about the future financial conditions of their children. Take away this security feature from them, and they will turn into someone like us. :)

So the main reason for any one behaving in any particular reason is their insecurity/ security.

Another observation is worth discussing, that I have recently come across with the Common Wealth Games CWG 2010 being conducted at New Delhi.

Of all the participants’ and the winners representing the India, most belong to either the small towns, villages or part of the low income to lower mid income group. Does that ring any bell?

Well it does and it’s very plain and simple. All the above mentioned participants barring a few had no choice and not much to risk. They already were in a condition that being good and playing the games was the only best option for them but not any risk. They probably had no or less access to education of whatever levels or affordability by their parents to provide higher education.

Well, the point that we are driven to is again that insecurity drives us to stick to non risky decisions. Similarly, assured security drives one to better risk taking.

Having said that let us analyze the whole scenario with respect to our kids and the decisions we make.

What the education cum sports minister of India needs to do. Provide SECURITY to the parents about the future of their children interested in anything other academic learning.

These are a few innovative changes worth implementing.

  1. Performance of each child should be assessed only with his/her past performance. No ranking, no grading.
  2. Interschool competitions in all intelligence areas to be conducted where each child competes in his/her area of passion and represents his/her school. The point 1 and 2 will ensure that competitiveness is kept high and yet the segregation of the children within his/her own class and school does not occur.
  3. Curriculums are designed more to assess and hone the strengths of the children and not harp on their weaknesses. This means more dynamic curriculum to be designed, that advances based on a child ability to grasp that forcing each one to follow one single curriculum. This type of methodology is adoption of the real time ability of each child. Welcome to the era of E Learning and internet.
  4. Every child who takes up a sports activity and is supported whole heartedly by his/her parents will be given reimbursed by the state government.
  5. Each child who wins a medal in the junior team will be ensured a seat in his/her passion area including engineering, medicine, architecture, management etc. etc.etc.
  6. Stop to all exams and end of 40 – 60 days waste of time on exams days will be utilized for more of sports camps, musical camps, art camps, disaster management camps, linguistic camps, logical camps, relationship camps, nature camps etc. etc. etc.
  7. Raise the salary of the trainers, teachers and coached and make them part of the profitability of the institutions.

Somehow, it seems that the slow transition that was happening till today, will be a thing of the past. A gust will take over the country and its youth to the brighter future that we all deserve.

How to teach kids value of money and saving?

Our times were not focussed on money or even importance of saving ever.

The focus was always to study hard, get good marks and make sure get a good paying job. In short being taught to work for others in big corporates.

That still has to be done. But one important thing that all parents must start is to instill the value of money and saving early in life of their kids.

This will not mean that they should be denied what they need, but let the buying sense be honed early.

There are various means and a few will be discussed below:

1.  Opening their account in a bank and making them operate it on their own. Ofcourse starting with a small piggy bank is the first step.

2. Compulsory saving of 50% or a fixed percentage of the pocket money. Pocket money is where parents go wrong. If you give too less, the needs of the child is not met. If you give too much, wasting of money follows.

3. If you buy whatever they need, however expensive a thing may be, you can be assured that they will never learn the importance of money.

4. Allow them to handle shopping when they accompany you. Take their help to make a list of items. Make them write the cost per item. This will not only teach them math but also unconsciously they will get the feel of what is the worth of each item being bought. Not necessarily the impact will remain for long, but repetition of this exercise will surely make an impact.

The spellings will improve, vocabulary will improve, and basic day to day working like making a tabular list, highlighting of column heading, serial numbering, border making, giving importance to an item in the list using stars or different color, underlining etc will get across the child with practical use of these. In case they can work later on the excel, word, tables it will be easy for them to understand what is the output needed.

5. Purchase credit card  (gift card) worth say Rs1000/- which has to last for say 3-4 months.

These will also help them to use their logic about how to save money.

Saving money or earning money or even discussing money is not what is seen in Indian families, even though once they are adults, that is all that they have to run after!!!

So why not  involve them sooner and make them learn the whole gimmick of the money world at as young as 6 year old.

A very important observation may be that you can see who is a better money handler, money manager, spender, saver and grower early on. May be the child who is not so good can be provided more coaching and training.

This is from my personal blog:

“Yesterday was the first day of credit card and seems to at least drive the sense of saving and importance of money. Both were discussing what could be bought with more savings left in their card as they have been given few rule points to make them think.
1. After 4 months whatever is left in their card, will be doubled by me.
2. If they buy books then they need not pay.(encourage reading)
3. If Papa buys toy, still that amount will be subtracted. (very imp to ensure they do not operate out of the rule or easy way out)
4. Donation from Nana, Nani, Dada, Dadi and others acceptable when they meet them personally. (imp to encourage them meeting grandparents).
5. Every good habit and being good children, will earn them points which will be converted into cash.
6. Any work done to help mummy, papa, bhaiya will earn Rs5/-
7. Fighting will reduce their cash by Rs 5/-
8. Study is not involved in this as this whole exercise in itself is the biggest learning of their life.

Any thing you try, remember as goal has to be set for them to reach it.

A  few simple goals.

1. Save Rs 100/ by the end of one week.

2. Save Rs 1000/- by the end of 3 months.

3. Save enough to buy your own game, cycle, or any toy.

4. Save enough to buy a gift for your mom/ dad/ siblings/ grandparents.”

Remember to give bonus when they achieve these small goals. It will encourage them to follow rules and appreciate goals.

In case they fail to achieve, do not discount the effort, but give what they have earned till then with 50% of bonus to make them believe in you.