Teaching Value of Money to your kids

Value of Money

Yesterday I heard Tim Ferris’ interview with Mr. Money Mustache

While the entire episode is worth listening (just like each one of the episodes of this podcast) what caught my attention was the following points:

  • Mr. Money Mustache pays his son allowance as “per mile”
  • His son has a pedometer
  • He gets paid based on “per mile” cycling or running he does.
  • Tim Ferriss wondered whether the son is “rigging the system”
  • Mr. Money Mustache's answer surprised me even more, he said :
    • Although it is a possibility, he doesn't need to.
    • The son wants to buy 20-30 USD worth video games every now and then
    • Son aleady has USD 1000 to his name.
    • He already has a lot more than he needs to spend.
  • and then Mr. Money Mustache made a comment that made me chuckle : “In that sense, he is already retired” 😁

Other interesting things he mentioned were that this “method”

  • Makes the son understand that “You have to work to earn your living”
  • Keeping the money in father's bank earn him interest (Vs spending it)
  • They keep a spreadsheet of his earnings and spendings (and interests, I suppose)

I think this is an excellent idea to teach one's kids the value of money.

While he didn't mention it, this specific idea also help inculcate the habit of physical exercise especially when kids these days spend a lot of time sitting, be it in school, homework, TV or mobile.

If only you and your spouse agree on how to raise the kids 😉

Photo by Micheile Henderson

Thumbnail Sketches

Thumbnail Sketches of creepers

I learned about thumbnail sketches in one of the skillshare classes I took a while ago. The teacher suggested that we draw very small sketches to hash out the idea. Map the elements in the entire space etc. After drawing couple of thumbnails about the same topic, we select the one that we like the most.

I never did any such thing - mostly because I hardly draw that way, where I pickup a topic, think of various ways I can represent it etc. None the less, the idea was fascinating. Thumbnail sketches can be really nice. Teacher actually coloured some of them as well, in order to plan how it will appear in the final sketch.

Today, I wanted to show my son how to draw various trees for his school work. Without thinking, I drew a couple of thumbnails for him.

So even if one does not apply something that they learnt immediately (or in the field where it was meant to be applied) it looks like it is always beneficial. It stays with you, and comes back to you when you need it (whether you know it or not)




Last night we watched live action “Aladdin” with the family - on TV.

First reaction - I liked the animated one better. Second reaction - I liked the animated one better.

It might sound strange - but animated Aladdin and Genie actor “acted” better than their live action counter parts.

Live action Jasmine (Naomi Scott) was better than the animated one.

They changed a story a little. I don't remember “throwing Ali into the water” scene from the animated movie.

When Jafar threw Aladdin “to the other side of the world” - it felt like he was in “real” danger while watching the animated one. In the live action one, not so much.

Final “battle” also seemed to matter in the animated movie when Jafar trapped Jasmine in the time piece. Not so much in the live action.

Same with “Getting out of the Cave”

I think the difference may be watching in the movie hall (Animated) Vs TV

I did like the dance routines, and Prince Ali's parade. They looked awesome.

It might be unfair to compare Will Smith to Robin Williams - but Will Smith had his moments. We laughed at couple of his jokes (which I don't remember from the animated one)

None the less, Kids enjoyed this one a lot. Elder one remembered a little bit of the animated one.