Managing Your Money

Money management habbits

Setting the Money Test

Each month, Julia and her cousins attended a big family meal at the home of their grandparents. The best part of the day was when their grandfather would give them all some coins so that they could buy something for themselves. After they received the money the kids would all run off and buy candy and gum. The parents, grandparents, aunts and uncles agreed that this behavior was not teaching the kids anything about money management. So, they decided to set a test. The children would have to show, over a year, what else they could do with their money.

The Spendthrifts

A spender girl. A few of the children thought they would save but Ralph and Nicholas didn’t care, and they kept on spending each month to buy sweets. They would show their bags of sweets to the others, laughing and making fun of them while they chewed their candy. Two other children, Clare and Joe became angry, and eventually gave up and stopped saving. They joined Ralph and Nicholas in buying sweets.

The Wheeler Dealer Gambler

Young Wheeler Dealer Gambler Matthew was a clever young boy and he started managing his money by buying and selling things or betting in card games with other children. It wasn’t long before he surprised the family with his accumulation of wealth for only medium effort. At this rate, he was going to be rich. Unfortunately, Matthew became careless and involved himself in riskier deals. As a result, he ended up with no money losing his last lot of money on a horse race.

The Saver / Investor

An InstantLoans24 future lender! Young Alex though had a will of iron. He saved everything he was given as he wanted to win the competition. At the end of a year, he had more money than anybody else. He did better than that. He had made so much money he could buy sweets in bulk, at a reduced price, so that on that last day of the year, he had the most money and more sweets than he needed for the coming year. He even had enough left over to buy himself a toy. He won the competition easily and his cousins learned from him the best way to save and be patient.

The Entrepreneur Artist

Girl playing guitarThen there was Julia. She was sad on that last day of the competition because, although she had a great plan, she had spent all her money and the plan had not had time to work. But, she was sure her plan was a good one and decided to continue, hoping her relatives would change their opinion of her.

Just before the second year was over, Julia turned up at her grandparents’ house with a guitar and a lot of money. What impressed them more was how well she could play.

It was common knowledge that Julia loved the guitar, but her family had not been able to afford the lessons. Julia had stumbled upon a poor musician who played the guitar in the park and she had offered him all her coins if he would teach her to play. The money was not a lot, but the musician saw how keen Julia was and agreed to teach her for months. Julia had so much desire to be good that after a year the guitarist lent her another guitar, so they could play together in the park. There little duo was successful, and Julia eventually made enough money to buy her own guitar. She also had quite a bit of money left over.

Julia went on to become a famous guitarist, musician, singer, much to the delight of her family. She was always happy to tell others how she was able to make her wildest dreams come true with just a few coins to start.

And You?

Which one of these kids are you? If you’re not a Julia, then perhaps you better keep this address handy for when trouble hits. 😊

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