We had a Sammyriffic Childhood Money Memory podcast and discussion recently with Krista Cavalieri financial literacy champion, mom, CFP® , and Sammy Rabbit All Star Reader Leader! Woohoo!

Watch the video above or listen to the audio of the interview below!

Plus below, find 15 Sammy Rabbit “Gold Karat” takeaways from the podcast!

Take a Listen!

About Krista!

Krista Cavalieri, is a financial literacy champion, CFP®, mom of three and a graduate from The Ohio State University!

She is currently a full-time Financial Consultant at Fidelity Investments in Columbus, Ohio where she resides.

Krista grew up in a household and culture where talking about money was considered bad luck. Now she is a passionate advocate for financial literacy!

You can connect with and discover more about Krista on LinkedIn:

15 Sammy Rabbit Gold Karat Takeaways from Krista Cavalieri!

(1) As a kid Krista was always a big saver! If she received money for her birthday or the holidays, she always saved it. She figured one day there would be something fun to spend it on, so she wanted to have the money when that day came.

It was the 80's. And she had this really cool, blue velcro wallet. So, she would put her money in her wallet and hide it. She didn't want anyone to find it. It was her money.

Finally, the big day had almost arrived. Her parents were taking her and her brother to Disney World. Krista starts packing her things the night before and starts looking for that cool, blue, velcro wallet. But, she just can't find it. It's getting late at night. She's panicked. She just can't find that whopping $300 she had been saving.

So, she is thinking and thinking, where is that wallet. And then she remembers, she had placed all her stuff animals in a trash bag in a move from their old house to their new house. And to keep her savings extra safe, she had placed the wallet and money at the very bottom of the trash bag underneath all the stuffed animals.

She was so-ooo-ooo relieved to locate the money. She still remembers that feeling of relief forty years later!

That made her super happy! And, she was able to buy anything she wanted without having to ask her mom and dad.

(2) Krista shared the experience with her kids - compounding the value of the lessons she learned. Their question - "Mom, what did you buy?"

What did Krista buy? Shoelaces! Neon shoelaces. Orange, Pink. Green. Yellow. It was a thing in the 80s.

NOTE: LOVE THIS STRATEGY! Talk to your kids about money. Share some of the lessons you learned as a child.

(3) Another excellent takeaway from the Disney World story, Krista did not spend all of her savings. She really gave thoughtful consideration to her spending choices. The fact that she had worked so hard to save that money was one of several things Krista mulled over carefully.

Krista shares, she had a "propensity to save!"

(4) While Krista was a saver, her brother was not. He was very clever though and had a definite earning ethic.

He knew Krista was a saver, so when they were young, he would attempt to teach Krista a skill in exchange for paying him five dollars.

One day their father got wind of the exchange and asked, "What are you teaching Krista for five dollars?"

So, Krista and her brother showed her father. And he put an end to that and had her brother return the money to Krista.

It was a big "aha" learning moment for Krista. It prompted her to start thinking is what you are using your money for worth it!

(5) In general, Krista's parents were not very talkative or open about money with her and her brother. That is a dynamic she and her husband are making an effort to change with their children.

They want to consciously give their kids guidance on smart ways to use and manage money. That includes having them set goals and identifying things they can reach and strive to attain.

They try to talk about and mention money topics that occur all the time in their daily lives, including subjects like taxes. They encourage their children to ask questions, be curious and inquisitive.

And, they try to talk to their children about money in a way the kids will understand. Woohoo - that is what good teachers do!

(6) Krista and her husband are very proactive about having the children save some of their money. They want the kids to know saving money is important.

Every time the kids get money, Krista and her husband let the kids know they can spend some of the money but need to save a portion as well.

(7) Krista does not want her kids to think money is something "mysterious." She wants them to have a healthy relationship with money. She wants them to be knowledgeable and capable of making good choices.

(8) When she was a child, Krista did not have a piggy bank or savings jar. She only had her special velcro wallet! That's where she stored and hid her money.

But with her kids, it's different. They have piggy banks. The also have save, spend and share boxes they can separate and store their money in.

(9) Krista recently instituted a "chore" chart in their home. Parenting isn't easy, but Krista and her husband are doing the best they can even though she laughingly admits they don't have all the answers.

So after having several conversations with fellow parents, they thought the chore chart might be one way to teach their kids the importance of earning money.

(10) Krista saved change as a child and she still saves change as an adult. If she sees a penny, she picks it up. And, she never spends the change. It's easy to collect. And, it is so fun to roll and wrap it up.

(11) Krista says if she could only teach a child one money habit, it would be to save! She would layer onto saving a goal. She likes the idea of giving savings a purpose. You know what? Sammy Rabbit does too!

You can set goals for fun things - things you want. And, you can set goals for your emergency savings as well!

It feels so good to have savings!

(12) Krista thinks personal finance should be taught in school, at all levels, from K through college and beyond!

It's "super" important to start early. Krista reminds us, adult money habits are set by age seven according to research from Cambridge University.

(13) I asked Krista if she would share a little about her youngest son, Rocco's awareness of money.

Krista shared he is very aware of money. Rocco asks for things and every now and then he might add something like, "If I save up for it, can I get it?" A-MAZING!

To which Krista might reply, "IF, you still want it when you have saved up enough money for it, we can buy it!"

Rocco has lots of wants and dreams including "squishables!"

Krista lets Rocco know you are welcome to save for it if you really want it - whatever it is. AWESOME!

(14) Krista reminds us that kids are learning from you even when you are not actively trying to teach them!

(15) Krista wants to encourage parents to talk to their kids about money. And she wants everyone to remember, it's never to early to start the money conversation and education with your kids!

Discover more about Krista Cavalieri financial literacy champion at her profile on LinkedIn: Krista Cavalieri

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