Kids make saving frames at Weingart East Los Angeles YMCA
Save Money. Make it a Habit!
Save money. Make it a habit.
Teaching kids to save money is not always easy. But it is crucial, especially for parents who want their children to have and experience more financial security and freedom in their lives.
So Sammy Rabbit fans who share that thinking will want to check out CFP® and mom Abby Kovach’s article on on IRIS.xyz: The Power of Starting the Right Money Habits Early
It is a review every parent, teacher, financial advisor and community leader should read. In it Abby shares:
- Why Sammy’s Big Dream is an important and effective resource for teaching kids about money
- How the storybook encourages kids to develop positive cue-routine-reward loops as described in author Charles DuHigg’s best-selling book, The Power of Habit!
Save Money – Snippets from Kovach’s Review
“According to Duhigg’s review of the research, an interesting thing happens as a new habit solidifies. The brain begins to anticipate the reward, and when the cue comes, we can feel an almost overwhelming craving. This craving propels us to perform our routine in (often unconscious) anticipation of the reward… I have a strong suspicion that saving may very well be what Duhigg refers to as a “keystone habit”… By starting very small and building on one success after another, kids learn that their actions make a difference and they can be agents of change in their own lives and the lives of others…”
Kovach’s review of Sammy’s Big Dream reminds us of the T.T. Munger quote:
“The habit of saving is itself an education; if fosters every virtue, teaches self-denial, cultivates the sense of order, trains to forethought, and so broadens the mind.”
The Right Money Habits Mean Everything!
From day one, 2001, Sammy Rabbit has believed teaching kids the right habits is the key to their having a successful lifelong relationship with money.
Sammy’s mantra – “Saving is a great habit!” You will find it in his storybooks, songs, activity books, and all his resources.
Here are four reasons why the right money habits mean everything.
One, habits don’t discriminate.
That is one of their intrinsic powers. They are not concerned with a person’s race, creed, color, gender, politics or income.
Two, habits have predictable outcomes.
That is a second key benefit. If you get in the habit of saving and investing, you have money. If you get in the habit of reading, your knowledge grows. If you get in the habit of exercising, your health improves.
Three, habits become automatic.
They shape and define a person. They conserve energy. They save time. Those are all advantages.
And, four, the right habits, money included, can transform, empower and create lives of excellence!
Aristotle is quoted as saying, “excellence isn’t an act, it’s a habit!”
In our opinion, learning to save money and making it a habit, is by far the single most important personal finance concept a parent can teach a child.
Are Kovach’s Review and Sammy on Target?
Is Kovach alone in her assessment of Sammy? Does Sammy have the right message? Is he on target? Is he effective? How important is it to teach kids to save money?
Here are what a couple of other experts have shared about Sammy and his get in the habit message.
Nick Bradfield, Father, Entrepreneur and Marine Vet
See Nick’s review of Sammy on Centsai. Nick shares there:
“I read (my son) Chance a Sammy story and played some of Sammy’s music for him. Chance immediately loved the rabbit. Likability is one of the character’s strengths. Chance picked up on Sammy’s core message, “Saving is a great habit.” That led to more discussions and lessons about money almost everywhere we were, even the grocery store. Those talks motivated me as well.”
Sheryl Garrett, Founder of the Garrett Planning Network
Here is what Sheryl shared in Financial Advisor Magazine:
“This is the same thing we talk to adults about, except we use the big words. The story of Sammy Rabbit’s journey to accomplishing his big dream, coincides with my belief that (financial) advisors should prompt adult clients to think about what they really want, too.”
Sammy and Financial Literacy
Sammy believes financial literacy is one of the defining issues of our time. It is one of the most significant components in determining whether or not the current generation of children will lead lives of debt or become owners of homes, small businesses and other assets like stocks that lead to financial well-being.
Sammy’s aim is to make it easy for parents, teachers, and community leaders to talk to and teach children about money so kids develop the necessary habits and life skills to become self-sufficient and have bright futures. It all begins with teaching children to save money.