All About Money – Lessons by A 12 Year Old


Soham Jategaonkar


A month ago, I FINALLY had a sum of money that I would get on monthly basis. Now normally, you would call this ‘pocket money’, but I never had this money in my pocket! My mom’s system worked like this- Let’s say I want to buy a rupees 70 keychain. For this, I would ask my mom for the money and would get ONLY that money that in this case, is 70 bucks. After I buy this keychain, I have to show this keychain to my mom, as a proof that I didn’t buy something else.

Now, I was confused. I was getting pocket money, but I had so many limitations to MY money. So, I thought about this and realised why these limitations were put in place.

So dear reader, here is a guide to your pocket money, along with crucial aspects of finance and saving-

Lesson 1: Money should be spent wisely- Don’t waste your money on things you already have or could make at home for free! For example, you have a messy drawer, and you want to buy an organiser to keep it clean. DON’T do this! You can make an organiser from old cardboard boxes, and you may even decorate it.

Lesson 2- Earn WITHOUT doing anything. – Many parents start a system to teach their children about saving and fixed deposit. This system involves keeping a sum out of your pocket money, let’s take it as rupees 100.

If this sum is not accessed, the child will get some money, as interest rates every month and this sum could be withdrawn any time.

Try speaking to your parents about this system. Chances are, they may implement it, and you may earn WITHOUT doing anything!

Lesson 3: The next lesson is somewhat related too- Savings– Instead of repeatedly asking your parents for that AWESOME laser you want, try saving some money and buying it yourself! Saving is really important. In the future when kids grow up, an emergency could arise and you may have to pay for it- If you haven’t saved some money, you’ll have to loan it- And spend years paying it back. So, start saving from an early age.

Lesson 4: Earning money in other ways– You could earn money in other ways too! Utilise your free time and old bottles to make cheap and up cycled pots for plants. Start selling some paintings if you are good at art!


You could even start a small library with your collection of books. Typing up letters and documents for old folks could get you some money too.

Just make sure your parents approve of this.

Lesson 5: Here comes the next lesson! Controlling your wants– This one isn’t directly linked to money, but is still very important. You should learn to control your wants. Don’t be greedy and spend all your money on a stupid toy. Save your money, and spend them in better ways like buying a birthday gift for your mom! Or, maybe you could by a new book for your grandfather!

And finally, value your money. Don’t waste it. Don’t argue for more pocket money. Remember- Don’t spend money you earned…to buy things you don’t want…to impress people that you don’t like.


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