“Daddy, can you buy me that, can we get one of those, how about this for my birthday?” Rarely can our 6-year-old daughter sit through TV commercial breaks during her favorite shows without hitting us up for the goods. My quick response is to switch the subject to the value of money and encourage her to save up for something she really, really wants. It all began with learning about different coins, then filling up her piggy bank and figuring out how much buying power she had. Now that she has her own kids passbook savings account at our local bank, I’m noticing a change in her attitude toward spending money.
On a recent night we went to our neighborhood Chinese takeout place to pick up dinner. The cashier behind the counter announced that the total would be $25.25, and I reached for my wallet. As I took out my debit card and placed it on the counter, my daughter flashed me a discouraging look. When I asked her what was wrong, she said, “Daddy, she said it cost twenty-five twenty-five. You could have paid for that with two quarters!”