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Pocket Money and my Childhood
By Derek  •  August 5, 2015
A post inspired by Christopher after hearing his interview today and it invokes memories of my childhood. You can read about the interview here. I am not a parent but based on the people who called in, I am surprised that primary school kids nowadays received only $10 a week for pocket money. Given the cost of living in Singapore, I was expecting more. During my primary school days (almost 30 years ago), my pocket money was 70 cents a day or $3.50 a week. I remembered spending 20 cents on a drink and 40 cents on a small plate of noodles. The remaining 10 cents goes to my piggy bank. 10 cents x 365 days = $36.50. It is not a lot now but it was a small pot of gold for a primary school kid then. Like most boys, I was mischievous and playful, and I accidentally stumbled upon my first 'job'. The professional eraser fighter. [caption id="attachment_122161" align="aligncenter" width="350"] Eraser Wars[/caption] For the 80s babies, this needs no introduction. Each rubber cost 10 cents from the school bookshop. With a few erasers in hand, I began my 'career' and I am glad to proclaim that I retired with a 101-0 record. Kidding. There were a few loses along the way  but I won more than I lost. Since the winner gets to keep the erasers, I sold off my 'winnings' to earn some extra pocket money.  I also learn about branding because although the erasers are exactly the same, some of my classmates are willing to pay more for a certain country. Not all childhood games are 'profitable'. Another favourite game of mine is the ruler fight. 20 cents for a wooden ruler and the person who breaks his ruler loses, not to mention the bruises after each 'fight'. Boys being boys will portray this as a macho symbol. All these childhood games are still affordable and my first real expensive hobby came with the introduction of this Japanese made car. [caption id="attachment_122169" align="aligncenter" width="350"] Tamiya Avante[/caption] I wonder how many readers recall building this car and racing it with friends outside the neighbourhood shop. It cost $5 for the car and another $5 for an engine upgrade - the hyper-dash motor. $10 was a princely sum then and I saved for a long time before breaking my piggy bank for it. I remember paying for it in all ten cent coins. It didn't take long to learn that it is an expensive hobby. I was losing way too often because I could not afford to keep up with the upgrades. I learn that the 'Big Boys' always win and that a level playing field is important. Do kids still collect stickers or stamps nowadays? My mom used to work as a receptionist and handles many letters. I will ask her to bring those unwanted envelops back and I will soak them in water to remove the stamps. After drying them, I will sell them to my classmates or trade for rare stamps. I do that for stickers too. I will trade them to complete my sticker book and sell off the extras. [caption id="attachment_122171" align="aligncenter" width="350"]Dinosaurs Sticker Book My very first sticker book[/caption] From stickers, I upgraded to cards. Now this is something that appeals to both gender. Remember them? [caption id="attachment_122172" align="aligncenter" width="350"]idol-cards The forever young Vivian Chow and The Four Heavenly Kings.[/caption] I think it was 20 cents for a normal card and 50 cents for a "shinning" card. If you have a 'shinning' card of a very popular idol, you can sell it for about $10-$15. I spent many hours with a torch light with other like minded card 'miners' trawling the neighbourhood for them. As my secondary school days draws to a close so ends a part of my childhood. I began to follow the more conventional route of earning more pocket money and that is to work part time. Do you have any interesting stories to share on how you managed to earn some extra pocket money? I would love to hear from the pre 80s as well as the 90s and the millennium babies.
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By Derek
Derek is an investor who follows Peter Lynch style of investing. He prefers to use simple and straight forward information for stock analysis. He started TheFinance.sg with the intention to bring together all bloggers and professionals who are interested or already in the area of Finance and Investing, and to create a community where everyone is free to write and to share their articles, experience and opinions.
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12 Comments

12 responses to “Pocket Money and my Childhood”

  1. Jerry Lee says:

    Haha! Awesome story, Derek!

    I had mad rubber skillz. I remembered I used 5-7 rubbers to win over a boy’s entire collection of about 100 rubbers in about a week. Everybody tried to stop me but they were defeated swiftly. I didn’t sell them though but I remembered ‘Brazil’ rubbers were worth a lot since Brazil was the best in soccer.

    I remembered the Panini sticker book. I brought leftover stickers to school to sell.

    I experimented with a lot of ways to earn pocket money:
    – sell keychains
    – sell stickers
    – wrote magazines charged people money to read them
    – wrote many book and charged people to read them
    ( everyone wanted to read the books because I wrote about them and they wanted to see what happens to them in the stories or magazines.)

    All that was in Primary School. When I reached Secondary School … it was another phase of life.

    Once again great post! Brought back lots of memories!

    • Derek Lim says:

      Hi Jerry,

      Thanks for sharing. I vaguely recalled Panini. Brazil was the best team but I supported the Auzzuries and when the Divine ponytail missed, it broke my heart and my wallet. Kekeke

      What were you writing about? No one wanted to read my work. They only want to read from the straight As students.

  2. Frugal Daddy says:

    Hey, when is our eraser fight? My records were 200-0. :)

    Some of the expensive “hobbies” I “regretted” as a student were:

    1) Collect phone cards
    2) Lego
    3) Eating fastfood and pizza excessively due to friends’ peer pressure (Sound funny, isn’t it)

    • Derek Lim says:

      Hi Frugal Daddy,

      Another challenger eh. I think I should hold a tournament – the champion of champions. Did u received your SG50 fun pack? There are two erasers in it.

      I remember the pizza hut buffet. Quite affordable since I was eating like a glutton then. Talking about phone cards, I’ve a lot of them, first day covers and silver plated coins of the Chinese Zodiac. Any suggestions on how to sell them or should I keep? If only we can sell it back to Singtel.

  3. LP says:

    Hi Derek,

    Good post and I like the personal touch. Always said u should blog more often! I can’t rmb how much I got for primary sch for my pocket money but I know it’s not nearly enough.

    Sec sch I get about 60 to 80 bucks? But that includes everything, including my bus fares. Not enough too. It’s given to me every month, so I really have to budget it carefully.

    On hindsight, I’m glad I was given less. Impressionable youngster could have developed some expensive taste back then. It easier to loosen up as we grow older than to tighten. I think it’s less painful this way haha

    • Derek Lim says:

      Hi LP,

      Thanks. It must be the pictures la.

      I also can’t remember how much I had in sec school, I think about the same $80 a month or are you getting that per day? :P

      Do you still remember the brand craze – Giorgio Armani, Versace (must show off the big Medusa head), JPG wallet etc? Many youngsters were working their socks off just to get them. I think parents in those days are less forgiving to giving their children extra money to buy branded goods.

  4. Derek,

    Now this is what I call a “peeling the onion” post!

    Cheers!

  5. My 15HWW says:

    Hi Derek,

    Ah, the memories of childhood.

    Like you, stickers were an expensive hobby for me as a child. I remembered I splurged quite a bit of my savings on the 1998 World Cup sticker book.

    As for pizza hut buffets, sometimes I do wonder how the chain in Bukit Timah Plaza survived. I think my record was close to 20 huge slices? LOL

    • Derek Lim says:

      Hi 15HWW,

      I think it cost 50 cents for a pack of stickers and progressively went up to 80 cents, a dollar, I wonder how much it cost now. Hee…no one talking about Magic The Gathering Cards yet?

      So you are the one who made Pizza Hut stop their buffet menu. LOL. Kidding la, I wasn’t a Saint either, 20 huge slices minus the crusts. hahaha.

  6. LP says:

    Hi Derek,

    Wrong lah, peeling the onion refers to revealing yourself layer by layer! LOL

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