STEP 1:- Read and understand the passage as well as the instruction.
It is important to teach children the value of money. Why is it so? Firstly, children do not know the value of money and that the money their parents bring home is hard-earned. They think that money grows on trees.
It is certainly not too early to start the children young. Parents should impart some knowledge about money and spending to their children once they are old enough to understand what money is. They should be encouraged to save their pocket money or gifts in the form of money like ‘duit raya’ or ‘ang pow’ into three categories. One for spending, one for savings and one for giving, that means to charity. Money for giving will teach children to help others who are in need of money. Hence, in this way, children are taught not only about money, but also to care for others, the needy, the sick and the poor, in whatever amount they can spare. Moreover, children learn to feel proud that they can contribute part of the money to help others.
When children are older, they should be taught how to draw up a mini-budget. They are taught how to record their expenses and to account for them. The main aim of the mini-budget is to get children into the habit of keeping tabs on their finances and savings.
Teaching them the value of money helps them to decide on what they want to spend on and allow them to face the consequences. After all, it is better for them to make small mistakes now than bigger ones in later life.
Finally, children should be taught that nothing is free. Parents should get their children to work at home and then pay them a reasonable amount. In this way, children will realize the true value of money and would exercise greater control over the expenses.
STEP 2:- Identify the main points (at least 5 points)
It is important to teach children the value of money. Why is it so? Firstly, children do not know the value of money and that the money their parents bring home is hard-earned (P1). They think that money grows on trees.
It is certainly not too early to start the children young. Parents should impart some knowledge about money and spending to their children once they are old enough to understand what money is. They should be encouraged to save their pocket money or gifts in the form of money like ‘duit raya’ or ‘ang pow’ into three categories. One for spending, one for savings and one for giving, that means to charity.(P2) Money for giving will teach children to help others who are in need of money. Hence, in this way, children are taught not only about money, but also to care for others, the needy, the sick and the poor, in whatever amount they can spare. Moreover, children learn to feel proud that they can contribute part of the money to help others.
When children are older, they should be taught how to draw up a mini-budget.(P3) They are taught how to record their expenses and to account for them. The main aim of the mini-budget is to get children into the habit of keeping tabs on their finances and savings.
Teaching them the value of money helps them to decide on what they want to spend on and allow them to face the consequences. (P4) After all, it is better for them to make small mistakes now than bigger ones in later life.
Finally, children should be taught that nothing is free.(P5) Parents should get their children to work at home and then pay them a reasonable amount.(P6) In this way, children will realize the true value of money and would exercise greater control over the expenses.
STEP 3:- Replace the words and rephrase the sentences (where necessary)
Points | R & R |
1. …that the money their parents bring home is hard-earned | money is hard to earn |
2. … One for spending, one for savings and one for giving, that means to charity. | money to spend, to save and to donate |
3. … should be taught how to draw up a mini-budget. | to learn how to prepare mini-budget |
4. … to decide on what they want to spend on and allow them to face the consequences | to think wisely before spending |
5. … should be taught that nothing is free | to know that nothing is free |
6. … get their children to work at home and then pay them a reasonable amount | need to work for money |
STEP 4:- Draft your summary in table (5 columns x 12 rows). Add Logical Connectors (where necessary)
Children | should | be | taught | the |
value | of | money | so | that |
they | will | understand | that | money |
is | hard | to | earn. | *They |
can | learn | saving | money | and |
allocate | it | for | spending | and |
charity. | **They | can | learn | how |
to | prepare | mini-budget. | ***They | should |
know | that | nothing | is | free |
and | they | need | to | work |
for | money. | |||
* Next
** Moreover/Besides,
*** FInally
