In all honesty, I can't say that I had a truly happy childhood. When I was my daughter's age, all I remember was my father's death that resulted to my mother's financial struggles as a housewife, who was left with nothing. Our hardships caused our family's many heartaches. And personally, though it taught me resilience, I never learned how to save for the rainy days. Whenever someone gave me money then, I always spent it all at once. It's only now that I'm a mom myself that I am learning the ropes of budgeting, spending and saving.
When Sophia received monetary gifts for her first birthday party and dedication, our original plan was to open a savings account for her. But then, Ondoy happened. Our purple rented house got flooded waist deep. Most of of our stuff got muddy and broken. Unfortunately, we needed to use her money to help us start anew. Fast forward to the many Christmases that she received thousands of money from her godparents; she has used it all up for her needs, which we should have given her. We never saved any, not even a single coin.