Saahil Mehta, a 40-year-old Indian living in the United Arab Emirates, believes in gifting his two children, Yuvraj, 8 and Alisha, 6, experiences rather than material possessions (东西) to celebrate special occasions. This could be in the form of a visit to a theme park or a staycation in a new hotel.
"As a result, their desire to buy things has gone down. This is our way of addressing their basic needs," said Mehta.
In December 2019, Mehta took the family to visit the Indian city of Dharamshala where they spent time with poor children in a school. This was an eye-opener for Alisha and Yuvraj, as they realised that what was normal for them was a treat for those kids. "For those kids, it is a blessing (幸福) to be able to attend school. This experience taught my kids to count their blessings," said Mehta.
During the holiday, the Mehta family gave away pens and pencils to 250 children. This helped Alisha and Yuvraj understand the cost difference in schooling. "They notice how much we spend on their education. The difference in costs helped them make a comparison," explained Mehta.
Back home, the kids are encouraged to do basic housework like making their beds, opening curtains, etc. But Mehta never gives them money for doing those things. This way, they are taught that everyone has to chip in to keep the household running. When they do other tasks beyond the essentials, like massaging the mother's shoulders, etc., Mehta pays them a small amount.
Pointing out a weakness in the education system, Mehta said children don't get any experience in financial literacy (知识) until they attend university. The father is planning to introduce the concept of a family bank to his children. He also wants his children to pay attention to financial pitfalls such as spending beyond their means, too much use of credit cards, etc. He has set a plan on how money will be spent on some needs. It's up to his children to use the money carefully.
