Mission “Bacha Education” in Vacation !

“Mission Bacha Vacation “

Yes, thats what my kids tell me every morning they get up since vacations have started.

The vacations are the time when kids have ample time at their disposal and they are full of energy.

I am warned daily that “Mommy, you will be targeted for Mission Bacha vacation, we will make sure that you have no escape from the nuisance that we will create” Such little Devils they are 😀

Now, it is a task to put them at work in such times. They will do lot of things like watch television, Computer games,Netflix, Read books , Join summer camps, play outside and many more.

How about having them join Investment Summer camp at home : “ An effort which will help them learn about Money and everything around that. “ This camp can be done at home only by day to day simple activities and will help them learn the following lessons:







Lesson 1: Everything has a Cost:

Nothing comes for free, Give them monthly pocket money and freedom to use the way they want to. They will do their own small budgeting what is more important for them and what is not for that particular month as they have to buy what they like within the means. This will not only help them understand value for money, but they will also be able to prioritize things in life – important and non- important ones.

Lesson 2: Banks don’t give money: 

When our kids were small or for that matter when we were kids, we used to think that you just have to visit bank and they give the money. You just show the card, you get the money. It is very important to teach the kids where this money actually comes from. They need to know money is finite source and it is earned and kept in banks.

Lesson 3: Piggy Bank can not only save but multiply the money:

Now that they have learnt to spend, next step is help them learn to save. Start from a piggy bank. Then, help them understand different ways in which they can use this money saved in a better way. You can give various options like:

Deposit in Savings bank account.

Open a FD with the amount deposited in SB account.

Open a RD or SIP account and save every month in these.

Lesson 4: Taking responsibility and keeping track:

Like they keep track of their school Class work and Homework, they should learn to keep track of their savings and investments . They should be helped in taking care of the investment proofs and checking them from time to  time.Also, they can maintain a small ledger for their own records and happiness.

Lesson 5: All demands are not to be met:

Whenever they make a demand or a wish,  just ask them to wait for a week’s time and ask them again if they really want it. Ask them to make a list of pros and cons before buying an expensive gadget, toy or any other object that they wish to buy. If they know the source, they will value it more and will do the benefit analysis next time before asking for unreasonable things.










Lesson 6: Save for the rainy day:

Help them to learn about emergency fund planning. Make them understand they should not all that they get, the saving habit should be inculcated from the beginning only.You can quote various instances of your past in which you had used emergency fund or all of a sudden a big expense came in front of you and you had your savings which helped you get out of the same.

Lesson 7: Money doesn’t grow on Trees, it grows like trees :

If they start saving today on regular basis with discipline and save for longer period , they can grow money multiple times. You can sow the seed for them today, that is initiate with first installment and they can continue with the investment, which can help them reap fruits when they grow up. This will help them understand power of compounding.

Different milestones can be set, like if they save today, they can contribute to their favorite gift or sponsor part of their education (however little it is , but sense of achievement is there 🙂 )

That is why it is said Money doesn’t grow on Trees, it grows like trees.

The Money lessons learnt in this way will Stay with them for lifetime and they will thank their stars for such parents 🙂

About the Author:  Gurleen Kaur is a Financial Consultant and devotes her time to her company www.hareepatti.com. She has done her Bachelors in Finance and Investment Analysis(BFIA) from College of Business Studies(CBS, Delhi) and MBA from IMT, Ghaziabad.. She can be Contacted at gurleen@hareepatti.com 
Disclaimer: Images have been sourced from google.com and are free to use.

Author: Gurleen Kaur

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