EP1. The Precious Value of Coupons

The Precious Value of Coupons

Financial Education with Our Child: The Lesson of Coupons

On a sunny spring morning, it was my birthday. As I was preparing breakfast, my daughter Jimin quietly approached from behind.

"Mom, happy birthday!" Jimin said with a bright smile.

I turned to look at Jimin. At that moment, I noticed the colorful papers in her small hands.

"What's this?" I asked curiously.

Jimin proudly held out the papers. "Special coupons for you, Mom! I made them myself."

I received the coupons with a touched heart. Looking at each one, I saw things like 'Doing the dishes', 'Giving Mom a massage', 'Cleaning the room' - things Jimin occasionally did for me.

"Wow, what a special gift. Thank you, Jimin." I hugged her tightly.

A few weeks later, on a weekend afternoon, Jimin was playing happily with her friends, and I was doing housework. Suddenly, I remembered the coupons Jimin had given me.

"Jimin," I called from the kitchen. "Can you come here for a moment?"

Jimin approached with a frown. "What is it, Mom?"

I took out a coupon and showed it to her. "Remember this? I'd like to use this 'Doing the dishes' coupon."

Jimin's expression suddenly hardened. "Mom, now? But I was playing..."

I smiled gently. "Yes, now. Coupons can be used anytime, right?"

Jimin stamped her feet and said, "Oh, I don't know. Just take the coupon back. I don't want to do it now."

I was silent for a moment.

"Jimin, shall we sit down? Let's talk for a bit." I pointed to the kitchen chair.

Jimin sat down with a disgruntled expression.

"Do you know what a coupon is?" I asked.

Jimin tilted her head. "Um... a paper that lets you get something for free?"

I nodded. "That's right. But that's not all. A coupon is also a kind of promise."

"A promise?" Jimin's eyes widened.

"Yes. The person who makes the coupon has an obligation to fulfill what's written on it. That's the value of the coupon."

Jimin thought for a moment. "So... because I made the coupon, I have to keep it?"

"That's right. When you made this coupon, you promised to provide this service to Mom."

Jimin's expression started to change. "I see... but I really don't want to do it now..."

I smiled gently and said, "I know. Sometimes we don't want to do things. But this is what responsibility is. When we promise something, it's important to keep that promise. Shall we talk more? If you don't keep your promises, these coupons will be worthless in the future. And Mom might be disappointed in you."

Jimin's expression darkened for a moment, but then brightened as if she had made a decision. "Okay, Mom. I promised, so I should keep it. I'll do the dishes."

I stroked Jimin's head. "Thank you, sweetie. By the way, want to hear an interesting story about coupons?"

Jimin's eyes sparkled with curiosity. "Yes, I'm curious!"

"The word 'coupon' originally comes from French. It's derived from the word 'couper', which means 'to cut'."

"To cut?" Jimin looked puzzled.

"Yes. In the old days, things like bonds or stocks were issued on large pieces of paper with many attached. And every time you received interest, you would cut off a piece of that paper. That cut-off part was called a 'coupon'."

Jimin nodded. "Oh, I see! So the coupons I made are something you give back to me after you receive the service?"

"That's right, Jimin. After Mom receives your service, I'll give you the coupon. It becomes proof that you kept your promise."

From that day on, Jimin seemed to think more seriously every time she made coupons. But as time passed, the child inevitably began to forget again. Despite learning the importance of keeping promises, she sometimes forgot the meaning of coupons. This meant that our journey of financial education was not over yet, and made us realize that we needed more conversations and experiences in the future.

The History and Development of Coupons

The history of coupons is deeper and more interesting than you might think. In the late 19th century, the American soda company Coca-Cola is said to have introduced coupons in the modern sense. In 1894, Asa Candler, a pharmacist from Atlanta and the manager of Coca-Cola, began distributing free drink coupons. This marketing strategy was a huge success, with about 10% of Americans tasting Coca-Cola for free by 1913.

However, the concept of coupons is even older than this. The word 'coupon' originated from the 17th-century French word 'couper' (to cut). This term came primarily from coupons attached to bonds or stock certificates, where investors could cut off these coupons and present them to the bank on set dates to receive interest or dividends. This is where the term 'interest coupon' came from.

As we entered the 20th century, coupons became a key tool in consumer marketing. In 1909, C.W. Post Company started the popularization of coupons by including 1-cent discount coupons with their cereal products. During the Great Depression, many families relied mainly on ration coupons to live, and during World War II, the government issued ration coupons to manage resources.

As we entered the digital age, the form of coupons also changed. Online coupons appeared in the late 1990s, and mobile coupons became widespread in the 2000s. Recently, personalized coupon services using AI and big data have been increasing.

Thus, coupons are an interesting tool that reflects changes in economy, culture, and technology, beyond being a simple means of discount. Through the history of coupons that have deeply permeated our daily lives, we can glimpse the flow of the economy and changes in consumer culture.

References

1. Lonto, Jeff R. (2011). "The Trading Stamp Story". Studio Z-7 Publishing.
2. Marden, Orison Swett (1908). "The Secret of Achievement". Thomas Y. Crowell & Company.
3. Wolfe, Audra J. (2018). "Freedom's Laboratory: The Cold War Struggle for the Soul of Science". Johns Hopkins University Press.
4. Bellis, Mary. (2020). "The History of Coupons". ThoughtCo.

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