Devon Kinch: Teaching Kids About Money
The Children’s Book Review
Published: February 24, 2012
I was 6 years old when I got my first piggy bank. It was round, pink, and adorable. From time to time, I would drop loose change into the slot, but mostly just to hear the coins hit the bottom of her porcelain belly. I didn’t save any money – it was usually spent on candy – or more likely than not – Garbage Pail Kids (it was the 80’s).
My second attempt at saving money was much more structured. My mother helped me open a savings account at our local bank. I was excited to have a place for my birthday and holiday money, and I would dutifully make note of my deposits in my bank book. My 12-year-old mind was officially blown when my mother explained to me my account would earn interest. The bank was going to give me free money?! I made up my mind to let the account grow and mature, but my plans were cut short when my brother persuaded me loan him my savings. He was successful, and let’s just say, he still owes me 80 bucks – with interest.
My third and final stab at saving money came almost twenty years later. This time it was out of necessity. I started saving money properly, but I couldn’t help but wonder how much better off I would be if I had established better saving habits at a young age. This is precisely what Pretty Penny sets out to do in her new adventure, Pretty Penny Cleans Up, where she teaches her young readers how to save money and have fun.
Penny is back with another big idea! This time she opens a puppy dog salon to raise funds for a concert she and her friend want to attend. The salon is a hit! Penny and her friend divide their earnings three ways: some for spending, some for saving, and some for giving. This way they can buy themselves concert tickets, save money for the future, and set aside funds for charity.
Penny’s three-part set up is a great way for children to approach saving money. Parents should speak to their children about the importance of saving for the future and work with their kids to set clear saving and spending goals. Penny shows her readers that it is fun and easy to save money!
Add this book to your collection: Pretty Penny Cleans Up!
Devon’s advice is simple: start the conversation early! As adults make New Year’s resolutions about saving and getting out of debt, Devon encourages parents and teachers to involve kids in the process. The series website, MyPrettyPenny.com, has downloadable resources for families to craft fun projects like Penny’s.