Last week, I was at birthday party of my uncle’s daughter Shraya. It was her 20th birthday. After cake and dinner session, Shraya started opening up all birthday gifts. My uncle was very aware about the expectation of Shraya, especially from him. She was eagerly waiting for the top notch new smart phone. She was desperate for it despite having old version of the same phone. Shraya when ended up opening all gifts, came to the room where I along with my uncle were discussing some general issues regarding his business. She said, “Dad, I am done with opening up all the gifts and found a book from your side.” My uncle sensed the disappointment on her face but he then quickly replied with a smile, “I am not done yet. Check your bank account. It must have got credited with the money to buy a phone. Shop the premium one. But before you go for shopping just go through the letter I have kept in a book.” She left with a smile.
After few days when I met Shraya, she was looking ravishing but she was holding her old phone. I asked about the phone, she said, I spent around half of money from the gifted amount to buy new dresses and rest I saved for future expenses. I reacted bit confusing as the girl who was really insane behind cool gadgets, didn’t buy the phone and started talking about savings. I Could sense that the letter which her dad had kept in the book might be a game changer. I sent a message to my uncle asking whether I can go through the letter he had written for her.
The writing of the letter was –
[My love Shraya, happy birthday again. I hope you loved the party. I apologize for the disappointment from my side. I knew what you wanted to have and I didn’t buy you but rather gave you money to buy it on own. Now, you have money with you. I have done my job by giving enough money to shop the phone.
You know, when I was 20, I had an immense crush on BMW cars. I promised myself that I would save money and won’t spend any dime to buy anything but that car. Once I saved enough money after struggling for eight years, I realized that the car is not the only thing I really need and a car is not the only thing that makes me happy. I questioned myself and contemplate. Do I work 12 hours a day just to buy that expensive four-wheeler only because it provides me profound status? Can’t a car worth 5 lakh give the same value and help me to go the places comfortably? Would that expensive car really make me happy? Will I have even time to enjoy that car after buying it?
We might have been living in the rented house till now, had I bought that car. I might not have had the capacity to spend this much amount of money on your education and enjoyment if I had bought that car. I rather invested that money to make even more. I preferred not be a poor owner of BMW car. That day I also realized that Investment of money and time should be done with great care and should be done in things that return you with more money and time to cherish this beautiful world. I bought a car worth 7 lakh and rest of the money I invested in businesses. Today I have been listed as one of the richest people of the town only because of that decision. Dear, Shraya we do need things and we should utilize this technology and innovation to ease our world but at the same time we need to look at value we are getting over price we are paying. Remember, price is what you pay and value is what you get. Value is qualitative term and you may need little more experience to understand it fully but starts learning it now. Everything in this world is judged by its look and the purposes it solves. Balance those things.]
That day I realized that what we need to do with our children is budgeting for their expenses once they become capable to buy thing on their own. Budgeting along with this kind of learning makes children realize the importance of values and prices. They will have no motivation to save the money if you directly buy them stuffs. They will demand expensive items as what they get by purchasing less expensive things is nothing.