Ellen Liu is a native Beijinger. She’s a stay-at-home mom, looking after son Thomas (age 7) while her husband is at work. Thomas attends Yizhuang First Central Primary School.
Do you give your child pocket money? If so, how much and at what age did he begin to receive it?
Currently, we don’t regularly give him pocket money. I’m considering giving him regular pocket money when he gets to 10. Maybe RMB 20 per week.
Does he get paid for chores?
We have tried this method before, but not always. My son likes to get involved with chores, but doesn’t expect to get money, though we have paid him sometimes for doing chores.
Do you control how he spends his money?
He gets money as bonus. He had a deal with his dad on how much money he gets depends on the total scores of the final exams at the end of every semester. For example, if he gets 200 marks in total, he will get RMB 20. His dad said that in this way, he will have to earn money through his effort. Then he’ll know that one has to work hard to make money. He will treat the money made through his effort more carefully and rationally.
Does your child have a bank account?
My son has his own bank account. We created a bank account in his name the year he was born, and deposit all the hongbao money he got in it.
Does your child take any part in family budgeting or shopping?
We provide daily necessities and things he needs for study. Other than that, he has to pay for the toys he wants to get.
Does your child run errands?
When I was a little girl, I ran errands in the hutongs all the time, though my parents never gave me any money for that. For now, times are different, and the social environment has changed. I once intended to send my seven-year-old son to buy things in the neighborhood, but my husband and the grandparents opposed the idea. So my son has never run errands so far.
Do you talk to your child about money, and financial planning?
We once talked about how to spend money wisely. I compared the product he wants to buy to his favorite toys. For example, I told him that an expensive Lego kit will cost many toy cars.
Do you talk to in-laws or grandparents about how much money they should give to your child, as presents or hongbao?
I don’t talk to grandparents about giving him money or not, or how much money they should give him. I don’t want him to take that money, but if the grandparents insist, I will put the money in his bank account.
Does your child give to or collect money for charity?
My son has given money to charity.
Does the Tooth Fairy visit your home? If so, how much does she leave?
I have told my son stories about the Tooth Fairy, but it’s not Chinese tradition to put money under his pillow.
Michelle Hrabar (USA) has lived in Beijing for seven years, with her husband Craig (Australia) and two daughters, Corinna (age 14) and Abbie (9). Michelle is a housewife while Craig works in management at an energy company. Corinna and Abbie are students at Dulwich College Beijing (DCB).
Do you give your children pocket money? If so, how much? At what age did they start getting it?
Corinna, our 14-year-old daughter, has a bank account in Australia for university. Corinna has only ever saved her pocket money so we later decided to bank it for university. A monthly amount is deposited. She only gets spending money now for outings with her friends. Abbie, our 9-year-old, gets RMB 20 per week to spend in her school store, to buy toys or school supplies. Any other spending, I buy for her as they come up and are agreed on. The only exceptions for both are summer holidays, where they are allocated an amount for spending.
Do they get paid for chores?
No. Chores are part of being a family and are not rewarded with money. Honestly, we do more chores than some, but our lovely ayi does the majority.
Do you control how they spend their money?
I will advise them what I think when they spend their money, but I let them choose what they buy more often than not, unless it is something I feel they will not use or is unnecessary.
Do your children have bank accounts?
Corinna has a college fund. Abigail will be getting one this year.
Do your children take any part in family budgeting or shopping?
Both girls help with grocery shopping and clothes shopping. They are very aware of the cost of things and how it compares with their home country. They are also very good at price comparison.
Do your children run errands?
Corinna and Abbie sometimes will go to the shop within our compound and buy something needed last minute.
Do you talk to your children about money, and financial planning?
We have not talked to the girls about financial planning. A great question and one I think I will look at seriously moving forward.
Do you talk to in-laws or grandparents about how much money they should give to your children, as presents or hongbao?
No, what our families decide to give is fine. I don’t believe we would ever do that unless they were overindulging our daughters, which is not the case.
Do your children give to or collect money for charity?
They have been involved in charity since arriving in China seven years ago. One year Corinna asked for all her presents to be money given to a foster home, and Abbie has raised funds for Roundabout.
Does the Tooth Fairy visit your home? If so, how much does she leave?
We have a very overindulgent Tooth Fairy. She has been known to give up to RMB 30 per tooth. I have thought seriously about discussing appropriate amounts to give children but who can argue with the Tooth Fairy?
This article originally appeared on page 12-13 of the September 2016 Issue of beijingkids magazine. Click here for your free online copy. To find out how you can obtain a hard copy, contact distribution@truerun.com.
Photos: Courtesy of Ellen Liu and Michelle Hrabar
