Christmas Aguinaldo : Teach your kids how to handle it

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The word “Aguinaldo” comes from the Spanish word that means gift. It is customary here in the Philippines that children visit their Godparents and older relatives to greet them Merry Christmas. Kids are given “Aguinaldo” which is usually in form of cash.

Popular for its practicality, cash has become the most famous form of Aguinaldo. No need to figure out what the kids want, no need to go shopping and wrap your presents.

It’s also relevant to kids of all ages. Crisp new bills are in demand during this season, you may contact your local bank so you can exchange it to new bills as it easily run out.

Christmas is not only the season for giving but also the season of receiving 😊. Chances are, your children will also receive “Aguinaldo” in form of cash from their generous godparents and other relatives. Now, how should you handle the money, or should you allow your child to use it the way he wants it?

Teach them the value of Saving

During Christmas, children will receive a lot of material gifts along side with the monetary gifts. It is also a great opportunity to encourage your kids to save.

It may not appeal to them but you can make them feel like they are in charge of the process. You may give them a coin bank for them to use. Encourage them to save money instead of buying unnecessary things. Let them be responsible of their own money.

Recently, I asked my son to join me as I visit the bank for some transactions. He was very curious, I explain to him how the bank operates. He was ecstatic when I told him that we will open a junior savings account for him and her sister.

BDO brings a whole new meaning to gift giving with their Junior Savers Account. Children age 0-12 years old can open a BDO Junior Savers Account with ID card for as low as PHP 100 in initial deposit. For further details on the opening of a BDO Junior Savers account, you may visit

Get them to budget

It’s also essential to teach children on how to budget. Show them how you manage your budget, it’s also an exceptional way to teach them the value of money. Ask them how much they want to spend on what they want or need. How much they want to keep for future use.

Be a good example

We, as parents, should avoid spoiling our kids with too many high priced toys. Do not always say “yes” every time our children ask for a toy. I explain to them the value of money and it is not practical to buy toys every time we visit the mall. There are certain things that are much important than buying toys.

Instead of buying toys with the Aguinaldo money, I asked them to pick one activity whether it be a trip to amusement park, family trip or indoor playground. This year, he choose to play at Bounce Trampoline Park with his cousins. The remaining money from his Aguinaldos will be put into his bank account. With this he gets to enjoy his Aguinaldo at the same time, be able to save.

The importance of preparation and guidance through the parents and patience being imparted to their kids can be very vital. Starting early will not only teach children the importance of money, but may also save parents a lot in the long term as this can make time their ally. And also as parents, let’s be responsible stewards of our kids money.

For more parenting tips visit us at MyKmag

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