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After PM Modi announced scrapping the old Rs.500 and Rs.1000 notes on Tuesday, November 8, the entire country rushed to ATMs to withdraw Rs.100 notes the same evening, resulting in long queues at ATMs which further made them run out of cash. Now that the banks are exchanging older notes with the newer currency notes and ATMs too have started dispensing money in the new currency, there is still huge rush at both the places.

So, parents who are struggling to fulfill daily needs due to lack of Rs.50 and Rs.100 notes and have got tired of standing in bank and ATM queues for notes of smaller denominations, are now turning to their kids. Yes, this Children’s Day on Nov 14, the Chiller Party is in power due the loads of stashed money in their piggy banks.

Kids with good amount of cash

We often teach children the importance of savings and encourage them to make some savings from their pocket money and the ‘shagun’ they receive from elders on various occasions. But who knew that this lesson on the importance of savings would only rescue them someday! In this time of currency crunch, the kids’ piggy banks have become the biggest saviours for several parents.

Kids have lots of money stacked up in their piggy banks with Rs.50 and Rs.100 notes and also the chiller coins which they have been saving since years. Also since the festive season had just passed including the 9 days of Navratri where girls are being called for ‘kanya poojan’ and given gifts and money and the big festival of Diwali, almost all kids have savings up to 4-6 thousand rupees, which has now come to rescue.

Kids put conditions before lending their money

But the chiller party - the kids in Jaipur and in other parts of the country, is not giving away their hard saved money as some charity or donations at all. They are easing their parents’ everyday cash issues by lending them money but on their conditions. Some have asked for new clothes while some have asked their parents not to stop them the next time they insist on buying their favourite toys.

Parents fool kids to get the cash

While some kids are themselves lending money with their conditions involved, there are kids who have to be fooled and manipulated so that their parents could get the cash. One father told her daughter that her piggy bank had turned old and so he’ll buy her a new piggy bank with some more money in it. Saying this he broke her piggy bank to use the lower denomination notes in it.

Parents have hard time to convince their kids for money

Many younger kids are so attached to their piggy banks that they are highly unwilling to let their parents break it. Many are too young to understand the need of the hour. So, the parents really had tough time to convince their kids to get their piggy banks broken.

No Loans without Terms and Conditions

loanThe young generation is so smart and business oriented that none of them is lending money without terms and conditions. Some need new clothes and toys. Even kids as young as 9 years old are asking for 20% interest on the money they are lending their parents. Some kids are even smarter who want their parents to double the amount they have saved.

Are you ready to sign agreements with your kids?

The son of a businessman asked him to give a signed note declaring that he is taking money from the son. The kid says that he has been taught not to trust anyone when it comes to business, not even his own father. The father’s teachings were used by the kid on the father himself!

Such interesting kids we have around. Happy Children’s Day to the Chiller Party! Keep saving for the bad times!

Also Read:

How is Rs.500 and Rs.1000 notes ban affecting the common man of India?

Banks to remain open this weekend post ban on Rs.500 and Rs.1000 notes

Rs.500, Rs.1000 notes banned: All You Need to Know and Do Now

ATMs started dispensing new Rs.500 notes, Latest updates

 


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