The Hindu : Tamil Nadu / Chennai News : Piggy bank variation aside, saving habit remains sound

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Thursday, Oct 30, 2008
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Tamil Nadu

Tamil Nadu - Chennai

Piggy bank variation aside, saving habit remains sound

Meera Srinivasan

Coins popular among kindergarten children; older kids regard the rupee mightier

Some even account systematically and wisely plan possible expenditure
Schools inculcate the culture of saving in children

For tomorrow: A child’s little bank.

CHENNAI: While the conventional piggy bank has seen a lot of variation in colour and form over the years, the saving habit among some children seems to be quite intact.

Coins are popular among kindergarten children, while the slightly older kids seem to regard the rupee mightier. Interestingly, some even account systematically and wisely plan possible expenditure.

Ten-year-old Charis Daniel carefully accounts for every rupee spent. “I keep some money in my wallet and use it occasionally to buy small things or something to eat. I keep a major portion of my savings in my cupboard,” says the chirpy girl.

She uses this portion of her savings for buying gifts for her parents or Christmas presents for cousins. “I like presenting my parents gifts on occasions such as ‘Mother’s Day’, ‘Father’s Day’ and so on,” she says.

Some schools on their part are trying to inculcate the culture of saving among children.

At Everwin Matriculation School, for instance, students are awarded gift cheques and vouchers for academic achievements. The school has a tie-up with about 85 stores and restaurants in and around the neighbourhood.

Students also have the option of collecting such cheques and vouchers, and later, have the total amount deducted from the school fee. Principal of the school B. Purushothaman says: “This is basically to cultivate and nurture the habit of saving among children. Some of them save coupons and take their parents out for lunch or dinner one day. A few save enough to have a substantial amount reduced from their next term fee.”

Students also have the option of opening an SB account with Vijaya Bank with a preliminary deposit of Rs.10, he said. About 400 students in the school have opted for this.

Children from modest backgrounds also have their own way of saving money and even, making some. Eight-year-old S. Gopal plays with marbles and the friends’ circuit that holds these games gifts the winner a rupee or two.

“My grand mother gave me 20 rupees for my birthday last month. I had already collected 23 rupees from July. When I have 50 rupees, I will buy a box of colour pencils,” he says.

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