Friday, July 13, 2012

Mark is winning with his money!

I am not sure who wanted this to happen quicker; my eight year old son Mark or I. For some time now he has been saving money to buy Nintendo DSi. Here are some things I reassured in as I was watching him earn, save, give and spend his money.


Long awaited package
Finally!!!
  1. Setting a reasonable goal  - helps you stay focused and motivated. Mark's savings plan started with us asking him one question - "what would you like to buy for your self?". He did not have to think long - DSi was something he wanted long before his dad knew what it was. To help him stay motivated from time to time I would ask him to tell me how much he already saved, if he knew what the latest prices for Nintendo were and if he had any ideas on how to earn more money. (Side Note - in our family there is no such thing as allowance, instead, we have commissions. Allowances teach kids all the wrong things - Parents are ATMs, money grow on trees, entitlement is a norm of life and finally how to "occupy Wall Street". On the other hand Commissions will teach your kids - responsibility, work ethics, independence, creativity and many other positive character traits and life skills.)
  2. Working on achieving your dream - pushes you to be more proactive. When Mark realized that saving enough money for his toy will not happen over night but the process can be expedited if he could earn more money, he really surprised me. As he was watching me sell our unwanted stuff on ebay and craigslist he asked me if he can do the same and he actually sold a couple of his toys he was no longer playing with. Every time he volunteered to help out in the kitchen, vacuum around the house, help dad pull weeds in the backyard - Commissions always brought a smile to his face. Funny how quickly he started asking us - "what else can I do?" You see desire to have some thing, get somewhere in your life, or do something different with your life - will not get you far - you need a plan and you need to work your plan to achieve your dream
  3.  Achieving your goal - Priceless. Finally! After long months of saving his earnings Mark saved enough to pull the trigger and buy his DSi. But not so far, we had to do some "fishing" to find the best deal for  the money. Although he had enough money to save a brand new DSi from any store that sold electronics, I had to show him what he could purchase used from ebay for the same amount of money. Many attempt were made to win various packages, but only one was Mark's!  This week Mark is celebrating his victory! His victory is an inspiration to me and Tanya as well. One day we too will achieve our Financial Freedom and it will be an unforgettable moment - I know it for a fact!

Proud Owner of Nintendo DSi, 11 games and many Accessories