What is money parenting?

Is your child your copycat?

Children are natural copycats. They observe more than you imagine that they do and inevitably, they start following what you do. Here are some things that parents do that children are bound to copy, and the impact it has on them.

What kind of money parent are you? Take our 2-min quiz to find out.

Have you ever looked at your children and felt that their actions looked suspiciously familiar? Or perhaps, to be more specific, did it feel like you were looking right into the mirror?

From the way you apply your makeup, to the way you pose for a selfie or even how you whip out your credit card at the supermarket — children can stage a perfect impersonation!

Do you know why they are known as the world’s best copycats? That’s because children pay close attention to the world around them every waking moment. They learn and imitate behaviours by watching and listening to others. This is known as ‘observational learning’ and it can be a double-edged sword.

While it’s good to have them imitate our positive behaviour and habits, it also means we must be really careful about what we do or say in their presence.

I’m 35, a teacher by day and writer by night. I have three children aged 3, 5 and 8. I must admit that I didn’t do a whole lot of research about parenting and I learnt it ‘on the job’ as they say. So, from my humble experience as a mum of three, here are seven things that I’ve noticed my children mimicking and what I learnt from it!

5-things-that-parents-do-that-children-will-copy-fig-1

1. Reactions

Lately, I’ve noticed a whole lot of super exaggerated, melodramatic, “Ohhhh maaaa gaaawds” or “Ohhh my goodnessss” from my three children. I asked them why they were being so dramatic and my oldest (also the wittiest) had no qualms saying, “Where do you think we learnt it from, mummy?”

Did I mention that it came complete with one raised eyebrow and a smirk? Totally a reflection of myself!

It was amusing, cute and downright hilarious. Jokes aside, I realised that if I didn’t stop doing that, I would be raising a little drama troupe!

2. Manners

I’ve always been a stickler for manners and never fail to demand good manners from my children. I make it a point to greet and wish every Grab driver and cashier a good day, say all manner of please and thank yous and make it a point to smile and say something pleasant when I meet an elderly person.

My children have all taken after this habit and that’s a great win for me. Remember, walk the talk is more effective than talk the talk!.

3. Use of Free Time

When I’m around, my children naturally reach for a book or curl up on my lap for reading or storytelling time. When their father is around, they gravitate towards the television and cajole their way into watching the latest Paw Petrol or Peppa Pig episodes.

There’s a really simple explanation for that — I spend most of my free time reading and my hubby watches Netflix. These master copycats inadvertently follow suit in accordance to whose presence they are in.

But alas, I also spend a lot of my free time scrolling through Amazon, Zalora, Asos and you know the rest. Unfortunately, my children have also started to find joy in peeking over my shoulder and joining me in my scrolling. Yikes!

4. Eating Habits

Here’s more on the mum versus dad saga. With me, it’s mostly home cooked food, lots of greens, milk, yoghurt, cheese, fruits and everything healthy. When Daddy is home, it’s always, “Can you order McDonalds? Or Bubble Tea?” No prizes for guessing why.

So yes, we need to watch what we eat and how much we spend on food. I’m glad to say my older one has cultivated some sense of healthy eating and prudence. He stops his father from ordering food because it’s “unhealthy and a waste of money”.

Ah, he heard me saying that enough! But I’m not entirely sure the deterrence happens in my absence.

5. Online Shopping

Earlier I mentioned scrolling through shopping apps in my free time. That leads me to my parenting fail moment. So the story goes like this. My middle child wanted some toys and I tried telling him there was no way we could get it at 9p.m. as all the toy stores were closed. He laughed and said, “Of course you can, what’s Amazon Prime for?”

Also, I left my phone unlocked only to find a whole lot of random toys conveniently parked in my cart. To date, I haven’t found out which one of the three is the culprit.

It was all fun and jokes until it struck me that my children had observed the frequency of my online purchases. Not to mention that I talk about it a lot. It’s definitely not a good ‘shopping practice’ to instill in them as they have formed the idea that there are no limits to buying — as far as they’re concerned, money is limitless!

In fact, in their pretend play, I notice that they almost never pay for things with actual money. They make a card out of paper that’s within reach and tap away, akin to how I almost always use my card to pay.

Yes, I know it’s 2020, and we are increasingly moving towards a cashless society. Nonetheless, it is a dangerous idea for children to have, that a card is the window to infinite spending. Using actual dollars and cents to pay gives them a far better idea that money does run out and that we have to watch what we spend!

money-lessons-for-children-that-will-last-a-lifetime-fig-22

Our children’s money matters are our matter

So where am I going with this? I could go on writing a never-ending list of things that children copy from us, but the most important message is that we are our children’s first teachers.

Granted we are not their only teachers, for they observe others as well as what they watch on television. But what modeled behaviours children will imitate depends partly on what sort of reinforcement those behaviours receive. They are more likely to imitate a behaviour that is positively reinforced!

It’s also important to think about the life lessons we are teaching them. Manners, values, worldviews and financial literacy must be instilled from a young age. Never underestimate the importance of role modeling. Good financial practices instilled from a young age is bound to go a long way!

Get #MoneyParenting insights in your inbox

Insider access to the latest content, tools and events

Your privacy is important to us. Learn about our privacy policy and how we protect your personal details.

This document is produced by Eastspring Investments (Singapore) Limited and issued in:

Singapore by Eastspring Investments (Singapore) Limited (UEN: 199407631H)

Australia (for wholesale clients only) by Eastspring Investments (Singapore) Limited (UEN: 199407631H), which is incorporated in Singapore, is exempt from the requirement to hold an Australian financial services licence and is licensed and regulated by the Monetary Authority of Singapore under Singapore laws which differ from Australian laws

Hong Kong by Eastspring Investments (Hong Kong) Limited and has not been reviewed by the Securities and Futures Commission of Hong Kong.

Indonesia by PT Eastspring Investments Indonesia, an investment manager that is licensed, registered and supervised by the Indonesia Financial Services Authority (OJK).

Malaysia by Eastspring Investments Berhad (200001028634/ 531241-U) and Eastspring Al-Wara’ Investments Berhad (200901017585 / 860682-K).

Thailand by Eastspring Asset Management (Thailand) Co., Ltd.

United States of America (for institutional clients only) by Eastspring Investments (Singapore) Limited (UEN: 199407631H), which is incorporated in Singapore and is registered with the U.S Securities and Exchange Commission as a registered investment adviser.

European Economic Area (for professional clients only) and Switzerland (for qualified investors only) by Eastspring Investments (Luxembourg) S.A., 26, Boulevard Royal, 2449 Luxembourg, Grand-Duchy of Luxembourg, registered with the Registre de Commerce et des Sociétés (Luxembourg), Register No B 173737.

Chile (for institutional clients only) by Eastspring Investments (Singapore) Limited (UEN: 199407631H), which is incorporated in Singapore and is licensed and regulated by the Monetary Authority of Singapore under Singapore laws which differ from Chilean laws.

The afore-mentioned entities are hereinafter collectively referred to as Eastspring Investments.

The views and opinions contained herein are those of the author, and may not necessarily represent views expressed or reflected in other Eastspring Investments’ communications. This document is solely for information purposes and does not have any regard to the specific investment objective, financial situation and/or particular needs of any specific persons who may receive this document. This document is not intended as an offer, a solicitation of offer or a recommendation, to deal in shares of securities or any financial instruments. It may not be published, circulated, reproduced or distributed without the prior written consent of Eastspring Investments. Reliance upon information in this document is at the sole discretion of the reader. Please carefully study the related information and/or consult your own professional adviser before investing.

Investment involves risks. Past performance of and the predictions, projections, or forecasts on the economy, securities markets or the economic trends of the markets are not necessarily indicative of the future or likely performance of Eastspring Investments or any of the funds managed by Eastspring Investments.

Information herein is believed to be reliable at time of publication. Data from third party sources may have been used in the preparation of this material and Eastspring Investments has not independently verified, validated or audited such data. Where lawfully permitted, Eastspring Investments does not warrant its completeness or accuracy and is not responsible for error of facts or opinion nor shall be liable for damages arising out of any person’s reliance upon this information. Any opinion or estimate contained in this document may subject to change without notice.

Eastspring Investments companies (excluding joint venture companies) are ultimately wholly owned/indirect subsidiaries of Prudential plc of the United Kingdom. Eastspring Investments companies (including joint venture companies) and Prudential plc are not affiliated in any manner with Prudential Financial, Inc., a company whose principal place of business is in the United States of America or with the Prudential Assurance Company Limited, a subsidiary of M&G plc (a company incorporated in the United Kingdom).