December 19th 2024.
Catherine Lofthouse was determined to teach her two eldest sons, Alex and William, an important lesson about money. As she watched them eagerly reach for a special present under the Christmas tree, she couldn't help but feel a sense of excitement and pride. It was a Nintendo Switch, the one thing they had been longing for all year. Of course, Catherine knew exactly what was inside, but so did her sons. They had been saving their pocket money, doing chores, and even contributing their Christmas money towards buying it.
Some may think that Catherine was taking away the magic of Christmas by getting her boys to help pay for their own gifts. But she believed it was an important lesson for them to learn. The quest for a Nintendo Switch had started the previous year when her oldest son, seven-year-old Alex, had asked for it for Christmas. He had already figured out that it was his parents, not Santa, who put the presents under the tree.
However, with a price tag of around £250, Catherine and her husband were hesitant to buy it outright. They didn't want it to be a fleeting request from their young son, who could easily lose interest in it. So, they explained to their sons that it would be best if they all saved up as a family to afford it. It might take some time, but they were determined to make it happen. Surprisingly, Alex and William were not discouraged and quickly set out to save up for their share of the console.
Between the two of them, they saved up cash from their birthdays and did age-appropriate chores around the house, such as dusting and helping with laundry, to earn a few pounds at a time. Eventually, they had saved up enough for their share of the console. Including some games and accessories, the total cost came to about £350, with the boys contributing about half of that amount. The rest came from their parents and grandparents.
But even though they knew it was coming, nothing could compare to the joy on their faces when they finally unwrapped the Nintendo Switch. It had been a successful lesson for Catherine and her husband, and they decided to continue this practice for other expensive gifts in the future. They considered anything in the hundreds, rather than the tens, as an expensive gift, and the boys were more than happy to contribute.
Nowadays, Alex and William do extra chores like washing the car, cleaning the windows, or helping with the garden to earn money for big-ticket items. They have been doing this for a few years now, and it has become a normal part of their lives. Catherine was proud of her boys for understanding that we all make choices about how we spend our money, and if we want something expensive, we might have to cut back on other things.
Catherine didn't set a budget per child, but she didn't want to spend all her money on just one item either. She still liked to spoil her boys with lots of little presents under the tree, and there were other gifts to buy for family and friends, as well as food and drinks for the festivities. She based their share of a gift on how comfortable she felt with the overall cost. For instance, an expensive VR headset or the latest phone would require a larger contribution from her sons.
The boys had done really well with this approach to gift-giving, and they understood that part of the joy of presents is giving them to others, not just receiving them. Their friends and family also didn't mind this approach, as they could see how happy the boys were and that they were not missing out on the magic of Christmas. Catherine and her husband had never been big on Santa in their house, and their sons were aware from an early age that their parents were the ones funding the festivities.
One year, Catherine's auntie gave each of the boys a tenner, and they decided to do a Secret Santa between themselves. Each boy had one brother to buy for, and Catherine took them all to the same shop one at a time to spend their money on a present. It was a fun experience that helped the boys understand the value of giving and receiving.
Another advantage of this approach was that the boys were gracious when receiving gifts from family and friends, even if it wasn't something they had asked for. They knew that presents shouldn't be taken for granted, and this pleased Catherine. She often received compliments on her sons' lovely manners, which made her feel like she and her husband were doing something right as parents.
Ultimately, Catherine hoped that she had given her sons the gift of understanding how family finances work, something more valuable than anything that could be found under the Christmas tree. Saving up for something they really wanted was like giving a gift to themselves, and she believed it was good to treat oneself now and then. This year, her sons' wish lists were not too extravagant, as one of them was saving up for a school ski trip. But they were starting to understand the value of money, and that made Catherine proud.
Her other son had asked for a PlayStation and saved about £100 towards it. And between you and her, Catherine knew he would be a very happy boy on Christmas Day. She encouraged others to share their stories and views on this topic and hoped that her experience would help other parents in teaching their children the value of money.
[This article has been trending online recently and has been generated with AI. Your feed is customized.]
[Generative AI is experimental.]
