Five money lessons my son taught me

Five money lessons my son taught me

Score: 8 Votes: 8
Score: 8 Votes: 8
Score: 8 Votes: 8
Score: 8 Votes: 8
Score: 8 Votes: 8
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Deal Subedar
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A couple of years back, my son came to me and said, “Papa, I want to buy a Jaguar”. He meant the car, by the way. He was and is still fascinated with the cars, and by Jaguar specifically.

The car is clearly not on my list of priorities, but if my son wants it, I am the last one to discourage him. At the same time, this was a great opportunity for him to understand few basic lessons in life.

Lesson 1: Set goals in life. Even if the goals look ridiculously high, do not worry. Don’t be discouraged. Try. Goals are highly motivating.

I said, “Why not? But do you know how much it costs to buy one?” He obviously had not thought of this. So I asked him to go and find it out. Few days later, he came to me and said, it would cost around Rs. 1 crore.

Lesson 2: Without assigning an amount to a goal, it just remains a dream.

My next question to him was on how to accumulate so much money. He started thinking on this. A few days later, we were going to his school and he asks me how much money do I earn each month. I told him the number. He was surprised and expressed a bit of disappointment, as it would take a long before he can get his dream car considering my earning. My response to that was – actually it might take longer than that since he considered the total income without adjusting for the expenses.

Lesson 3: It is not the income, but the savings that help you reach goals.

While he was getting disappointed, I did not want him to give up. So I suggested that anyway the car was to be purchased for him and he can drive only after he is 18 years old. So, he had nine more years to go (he was 9 years old when the discussion took place). That was enough time to accumulate the money required for the goal.

Lesson 4: Assigning value to a goal is not enough; you must also set a timeline.

He kept thinking. Then one day he came to me and said, “Papa, you know, when you go to a shop to buy something and two similar things are available, buy the one that is cheaper.” I asked him to explain it further. He said, “See, if there are two varieties of orange juice, both almost similar quality, but one is priced at Rs. 12 and the other at Rs. 15; you should buy the one that is priced at Rs. 12.” I said, “Ok, but how does it help.” He said, “It is very simple. You know on each pack of orange juice, you save Rs. 3. And that additional saving would help us buying the Jaguar faster.”

Lesson 5: Every drop makes an ocean. Small amounts saved regularly, can help one reach impossible goals.

Nobody had taught him this. It just occurred to him as he kept thinking about his dream car – the Jaguar.

My son taught me some valuable lessons:

1. Personal finance is not a difficult subject. It is common sense. After all, even a kid can understand it.

2. Setting goals and working towards achievement is highly motivating. Once you really want something, the mind starts to think of the solutions and as Paulo Koelho would have loved to add: “And when you want something, all the Universe conspires in helping you to achieve it”. Well, Shahrukh Khan was not the first to say this when he uttered a similar line in “Om Shanti Om”.

These are small opportunities in life for a child to pick up some valuable lessons. It is always the responsibility of a parent to explore and exploit such opportunities to teach some valuable life lessons.

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28 Comments  |  
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Deal Subedar
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very insightful

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Deal Subedar
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It was from business standard and not moneycontrol… try to search correct source !!!!

Successful
Deal Subedar
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47

It was from business standard and not moneycontrol… try to search correct source !!!!

Successful
Deal Subedar
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47

It was from business standard and not moneycontrol… try to search correct source !!!!

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Deal Lieutenant
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@mdeal001 wrote:

It was from business standard and not moneycontrol… try to search correct source !!!!


When he has already posted the source which has the same article how does it matter if it is moneycontrol or business standard?

India
Deal Major
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@mdeal001 wrote:

It was from business standard and not moneycontrol… try to search correct source !!!!


उल्टा चोर कोतवाल को डांटे. #SMH Using this abbreviation after long time. @DealSeeker https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif

@Alpha.Barood @VaibhavJain any comment? https://cdn3.desidime.com/assets/textile-editor/icon_lol.gif https://cdn3.desidime.com/assets/textile-editor/icon_lol.gif https://cdn3.desidime.com/assets/textile-editor/icon_lol.gif

Successful
Deal Subedar
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@parthponkiya8 wrote:

@mdeal001 wrote:

It was from business standard and not moneycontrol… try to search correct source !!!!


उल्टा चोर कोतवाल को डांटे. #SMH Using this abbreviation after long time. @DealSeeker https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif

@Alpha.Barood @VaibhavJain any comment? https://cdn3.desidime.com/assets/textile-editor/icon_lol.gif https://cdn3.desidime.com/assets/textile-editor/icon_lol.gif https://cdn3.desidime.com/assets/textile-editor/icon_lol.gif


Awww….. bura maan gaye??? Try to learn from above things instead of finding a name of an author…. the things that matter is whther it is knowledgable or not and not the name or source.

Successful
Deal Subedar
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@parthponkiya8 wrote:

@mdeal001 wrote:

It was from business standard and not moneycontrol… try to search correct source !!!!


उल्टा चोर कोतवाल को डांटे. #SMH Using this abbreviation after long time. @DealSeeker https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif

@Alpha.Barood @VaibhavJain any comment? https://cdn3.desidime.com/assets/textile-editor/icon_lol.gif https://cdn3.desidime.com/assets/textile-editor/icon_lol.gif https://cdn3.desidime.com/assets/textile-editor/icon_lol.gif


Awww….. bura maan gaye??? Try to learn from above things instead of finding a name of an author…. the things that matter is whther it is knowledgable or not and not the name or source.

B122ac99d003e27fc7685a20a0456ae8
Deal Cadet
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What i learnt 4m this thread is How to search Correct Source of the Article.. https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif https://cdn3.desidime.com/assets/textile-editor/icon_twisted.gif

Kabali
Deal Colonel
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@smartsagar7up624 wrote:

What i learnt 4m this thread is How to search Correct Source of the Article.. https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif https://cdn3.desidime.com/assets/textile-editor/icon_twisted.gif


https://cdn3.desidime.com/assets/textile-editor/icon_lol.gif

Draw
Deal Colonel
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@smartsagar7up624 wrote:

What i learnt 4m this thread is How to search Correct Source of the Article.. https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif https://cdn3.desidime.com/assets/textile-editor/icon_twisted.gif


We r not bot to run the algorithm to chk which one is best fit source.

Lesson – why create conflict , better discuss the merits of content , else FORGET.

Index
Deal Captain
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@mdeal001 wrote:

@parthponkiya8 wrote:

@mdeal001 wrote:

It was from business standard and not moneycontrol… try to search correct source !!!!


उल्टा चोर कोतवाल को डांटे. #SMH Using this abbreviation after long time. @DealSeeker https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif

@Alpha.Barood @VaibhavJain any comment? https://cdn3.desidime.com/assets/textile-editor/icon_lol.gif https://cdn3.desidime.com/assets/textile-editor/icon_lol.gif https://cdn3.desidime.com/assets/textile-editor/icon_lol.gif


Awww….. bura maan gaye??? Try to learn from above things instead of finding a name of an author…. the things that matter is whther it is knowledgable or not and not the name or source.


I thought it was real incident of your life which your son taught you. But you disappointed me after checking others comments that its copied.

Successful
Deal Subedar
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@smartsagar7up624 wrote:

What i learnt 4m this thread is How to search Correct Source of the Article.. https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif https://cdn3.desidime.com/assets/textile-editor/icon_twisted.gif


See kitna acha laga…aaj kuch naya seekhne ko mila.

Today u learnt a new lesson…

Successful
Deal Subedar
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@cody wrote:

@mdeal001 wrote:

@parthponkiya8 wrote:

@mdeal001 wrote:

It was from business standard and not moneycontrol… try to search correct source !!!!


उल्टा चोर कोतवाल को डांटे. #SMH Using this abbreviation after long time. @DealSeeker https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif

@Alpha.Barood @VaibhavJain any comment? https://cdn3.desidime.com/assets/textile-editor/icon_lol.gif https://cdn3.desidime.com/assets/textile-editor/icon_lol.gif https://cdn3.desidime.com/assets/textile-editor/icon_lol.gif


Awww….. bura maan gaye??? Try to learn from above things instead of finding a name of an author…. the things that matter is whther it is knowledgable or not and not the name or source.


I thought it was real incident of your life which your son taught you. But you disappointed me after checking others comments that its copied.


My son is too young right now and he can demand only doremon’s gadget

B122ac99d003e27fc7685a20a0456ae8
Deal Cadet
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@Alpha.Barood wrote:


@smartsagar7up624 wrote:

What i learnt 4m this thread is How to search Correct Source of the Article.. https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif https://cdn3.desidime.com/assets/textile-editor/icon_twisted.gif


We r not bot to run the algorithm to chk which one is best fit source.

Lesson – why create conflict , better discuss the merits of content , else FORGET.

come on Alpha bro it was just a light hearted my stupid little joke. i saved ddf by this post. You can see if I had not posted that server would have exploded by heated argument s above. https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif
,
i suppose its very difficult to get the Tone of the post on internet. Now I am devoting my life developing SARCASM font 🤗 😂 😋

Draw
Deal Colonel
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@smartsagar7up624 wrote:

@Alpha.Barood wrote:


@smartsagar7up624 wrote:

What i learnt 4m this thread is How to search Correct Source of the Article.. https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif https://cdn3.desidime.com/assets/textile-editor/icon_twisted.gif


We r not bot to run the algorithm to chk which one is best fit source.

Lesson – why create conflict , better discuss the merits of content , else FORGET.

come on Alpha bro it was just a light hearted my stupid little joke. i saved ddf by this post. You can see if I had not posted that server would have exploded by heated argument s above. https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif
,
i suppose its very difficult to get the Tone of the post on internet. Now I am devoting my life developing SARCASM font 🤗 😂 😋

I meant leason means for all, nothing against u bro.

Sarcasm or apprreciation , is felt by vibes and emotions. No font replace the human senses , even if the smiley has been declared the word of the year !

Our understanding increased along with the increasing involvement. Never mention.

Enjoy.

Where is @Magus and Anna @Tejaa

India
Deal Major
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@mdeal001 wrote:

@parthponkiya8 wrote:

@mdeal001 wrote:

It was from business standard and not moneycontrol… try to search correct source !!!!


उल्टा चोर कोतवाल को डांटे. #SMH Using this abbreviation after long time. @DealSeeker https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif

@Alpha.Barood @VaibhavJain any comment? https://cdn3.desidime.com/assets/textile-editor/icon_lol.gif https://cdn3.desidime.com/assets/textile-editor/icon_lol.gif https://cdn3.desidime.com/assets/textile-editor/icon_lol.gif


Awww….. bura maan gaye??? Try to learn from above things instead of finding a name of an author…. the things that matter is whther it is knowledgable or not and not the name or source.


No, I haven’t felt bad.(I think you didn’t see Lol Emoji, posted by me) anyway yes I liked the post that’s why I was only second dimer to vote this up. But I am strictly against anyone to take credit of others work(either intentionally or unintentionally) and same happen with @cody he misunderstood that it’s your story.

Even first I also believed that its your story but then I thought why anyone who can buy a jaguar in just 9 years, visiting DD to save few bucks or to loot something? https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif Then I googled and first result came moneycontrol,and there was no other news sites in search result so I posted that link.

I have no interest in finding authors name, just wanted to post source. Source of most of news(except some exclusive post or interview) is PTI or ANI and others just copy it with few changes. If original source is business standard then its moneycontrol’s responsibility to give credit to them if they have copied.

BTW can you please give business standard’s link. I couldn’t find it. https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif

Break the bottle
Deal Captain
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@cody wrote:

@mdeal001 wrote:

@parthponkiya8 wrote:

@mdeal001 wrote:

It was from business standard and not moneycontrol… try to search correct source !!!!


उल्टा चोर कोतवाल को डांटे. #SMH Using this abbreviation after long time. @DealSeeker https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif

@Alpha.Barood @VaibhavJain any comment? https://cdn3.desidime.com/assets/textile-editor/icon_lol.gif https://cdn3.desidime.com/assets/textile-editor/icon_lol.gif https://cdn3.desidime.com/assets/textile-editor/icon_lol.gif


Awww….. bura maan gaye??? Try to learn from above things instead of finding a name of an author…. the things that matter is whther it is knowledgable or not and not the name or source.


I thought it was real incident of your life which your son taught you. But you disappointed me after checking others comments that its copied.


+1.

I too felt good https://cdn2.desidime.com/assets/textile-editor/icon_smile.gif reading the article thinking it’s your story but felt sad after reading the comments. https://cdn1.desidime.com/assets/textile-editor/icon_sad.gif

If someone hears a recharge trick from you & goes to others saying that he will teach them a good recharge trick & says it is his own trick. How would you feel?

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Deal Subedar
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i have posted the article just for knowledge and not to gain any publicity etc.

just enjoy life as it comes….

Draw
Deal Colonel
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@mdeal001 wrote:

i have posted the article just for knowledge and not to gain any publicity etc.

just enjoy life as it comes….


Wallcome bak after long absence on posting new threads!
Keep up the good work.

Successful
Deal Subedar
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@Alpha.Barood wrote:

@mdeal001 wrote:

i have posted the article just for knowledge and not to gain any publicity etc.

just enjoy life as it comes….


Wallcome bak after long absence on posting new threads!
Keep up the good work.


thanks barood sir…instead of @Alpha.Barood change it to @Asla.Barood@

Tumblr nxnnc17cat1s2u9vno1 500
Deal Cadet
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@mdeal001 : Just out of curiosity wts your monthly income 5 digit 6 digit or 7 digit.
Very good story.
Whichever source u had copied that doesn’t matter.

Osho
Critic
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@smartsagar7up624 wrote:

What i learnt 4m this thread is How to search Correct Source of the Article.. https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif https://cdn3.desidime.com/assets/textile-editor/icon_twisted.gif




@smartsagar7up624 wrote:

… it was just a light hearted my stupid little joke. i saved ddf by this post. You can see if I had not posted that server would have exploded by heated argument s above. https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif
,
i suppose its very difficult to get the Tone of the post on internet. Now I am devoting my life developing SARCASM font 🤗 😂 😋


ROFL!

Successful
Deal Subedar
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@testdrive4menow911 wrote:

@mdeal001 : Just out of curiosity wts your monthly income 5 digit 6 digit or 7 digit.
Very good story.
Whichever source u had copied that doesn’t matter.


tough question…struggling hard to make it 7 digits..hope within 6 months it will be https://cdn3.desidime.com/assets/textile-editor/icon_cool.gif

Tumblr nxnnc17cat1s2u9vno1 500
Deal Cadet
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@mdeal001 wrote:

@testdrive4menow911 wrote:

@mdeal001 : Just out of curiosity wts your monthly income 5 digit 6 digit or 7 digit.
Very good story.
Whichever source u had copied that doesn’t matter.


tough question…struggling hard to make it 7 digits..hope within 6 months it will be https://cdn3.desidime.com/assets/textile-editor/icon_cool.gif


Cool so ur son ll get Jaguar without asking. https://cdn2.desidime.com/assets/textile-editor/icon_wink.gif

Successful
Deal Subedar
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@testdrive4menow911 wrote:

@mdeal001 wrote:

@testdrive4menow911 wrote:

@mdeal001 : Just out of curiosity wts your monthly income 5 digit 6 digit or 7 digit.
Very good story.
Whichever source u had copied that doesn’t matter.


tough question…struggling hard to make it 7 digits..hope within 6 months it will be https://cdn3.desidime.com/assets/textile-editor/icon_cool.gif


Cool so ur son ll get Jaguar without asking. https://cdn2.desidime.com/assets/textile-editor/icon_wink.gif


May b if he can find a rich father in law…lolz….m not going to gift him HE HAS TO EARN IT.

Tumblr nxnnc17cat1s2u9vno1 500
Deal Cadet
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@mdeal001 wrote:

@testdrive4menow911 wrote:

@mdeal001 wrote:

@testdrive4menow911 wrote:

@mdeal001 : Just out of curiosity wts your monthly income 5 digit 6 digit or 7 digit.
Very good story.
Whichever source u had copied that doesn’t matter.


tough question…struggling hard to make it 7 digits..hope within 6 months it will be https://cdn3.desidime.com/assets/textile-editor/icon_cool.gif


Cool so ur son ll get Jaguar without asking. https://cdn2.desidime.com/assets/textile-editor/icon_wink.gif


May b if he can find a rich father in law…lolz….m not going to gift him HE HAS TO EARN IT.


lol. You are diplomatic.

Missing