Pennies and Payoffs
Teach kids to have a plan for their pennies. Teach kids to give their pennies a purpose.
Why? Here six reasons.
It will help them begin to form the right money habits when they are young.
This approach sets the foundation for a journey towards prosperity, financial security, and discovering a deeper sense of purpose in their lives.
Encourging kids to plan their pennies will kick start their critical thinking skills and ignite their imaginations.
It is a beginning step to learning to value money, including the time, energy and effort exchanged to acquire it.
By instilling this habit, we equip them with tools to steer clear of both minor and major financial missteps—something a well-thought-out plan excels at achieving.
It is a 'doable do" for kids. Pennies are easy for kids to access, manage, and save.
Food for Thought - A Significant Difference
Sammy Rabbit believes there is a significant difference between knowing how to earn money and knowing how to manage it.
Many of you may be familiar with the idea that it is not what you make that matters most when it comes to financial wellness, but what you do with what you make or how you manage what you make that matters more.
Sammy Rabbit also believes if a person is not successful stewarding pennies, nickels, dimes and quarters, there is little reason to believe they will be better stewarding larger amounts.
Therefore, it not a good idea to give a person who is poor at managing small amounts of money larger sums to manage. It very well may be one of the primary reasons why people who wish and dream about suddenly coming into larges sums of money, and then actually do, routinely squander substantial portions of it.
5 Typical Things Moms and Dads Might Say to Their Kids About Pennies
I do not know about you, but things my late parents spoke to me about endlessly as a child still repeat like reruns in my mind. Fortunately, a large portion of their guidance was what I like to refer to as "directionally" correct. One idea we encourage parents to be alert to is young kids are "little learning machines." They soak in everything parents say and do. Thus, they are learning all the time, about everything, including money, whether we intend them to or not. It is better that we bring "intention" to what we say and do, as often as able, so we point them in an empowering direction.
So, what do moms and dads say to their kids about pennies? Our research revealed they have a lot to say. Here are a few examples.
"Pennies add up!"
"Look for pennies on the ground!"
"Pennies for charity!"
"No wasting money on trivial things!"
"Be careful not to lose your pennies!"
2 Things Parents Should Never Say to Their Kids Again About Pennies
"A penny for your thoughts!" Think inflation!
"A penny saved is a penny earned!" Think of the various and many forms of taxation. Federal income tax. Possibly state income and sales tax. Gas taxes. Phone taxes. You get it. Today, a penny saved might be anywhere between $1.50 and $3.00 earned.
5 Things Sammy Rabbit Says to Kids About Pennies
Parents, teachers and community leaders looking for language, tips or money scripts to be more intentional when talking to young kids about money, particularly pennies, should consider adding the following Sammy Rabbit sayings to their repetoire.
Give your pennies a purpose.
Have a plan for your pennies.
Pay attention to your pennies. And, one day they will grow to nickels, dimes, dollars and more.
Change adds up. That means pennies, nickels, dimes and quarters.
Pennies can pay for things you want and need.
Listen to the 3 Sammy songs listed below that celebrate saving. They are a hoot! And the lyrics will provide you some additional short money messages to share with kids.
Get in the Habit / S-A-V-E / The Secret. Find them in Sammy Rabbit's Money School Song Series. You can access the songs for free.
5 Fun Things To Do With Pennies
Following are five fun things and facts about pennies parents, teachers and community leaders can use to catalyze conversation with kids. They will help make talking to them about money fun and easy.
Pennies are fun to collect.
Pennies are fun to count.
Pennies are fun to deposit at the bank and see your account balance grow.
Pennies can be fun when used to creatively to make various types of art. People have used pennies to create mosaic patterns, sculptures, and even jewelry. It can be a fun and inexpensive way to express your artistic side and create unique pieces.
Pennies are fun to flip for all kinds of reasons and sometimes making choices like where to go for dinner, which movie to watch, or who goes first in a game.
5 Interesting Facts About Pennies
The composition of the penny has changed over the years. From 1793 to 1857, pennies were made of pure copper. However, due to rising copper prices, modern pennies (minted after 1982) are made of 97.5% zinc and 2.5% copper, with just a thin copper plating on the surface.
The penny features a portrait of Abraham Lincoln, the 16th President of the United States, on the obverse (front) side. Lincoln's portrait has been featured on the penny since 1909, making it the longest-running design in U.S. coinage history.
The penny minted from 1909 to 1958 is commonly referred to as the "wheat" penny due to the two stalks of wheat depicted on the reverse (back) side of the coin. The wheat penny is a popular collectible among coin enthusiasts.
Pennies minted in the United States have different mint marks, indicating where they were produced. The most commonly used mint marks on pennies are "D" for Denver, "S" for San Francisco, and "P" for Philadelphia, although other mint marks have also been used in the past.
Pennies are often subjected to various forms of preservation or alteration by coin collectors. Some collectors may "slab" pennies, which involves encapsulating them in plastic holders to protect them from damage. Others may engage in "coin roll hunting," where they search through rolls of pennies in search of rare or valuable coins. Additionally, some penny collectors may engage in "penny smashing" or elongating, where pennies are pressed and flattened to create souvenirs or tokens with imprinted designs.
Related Reading and Resources
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Introducing Sammy Rabbit's Money School
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Sammy's Money School is a one of kind membership with a treasure trove of activities, stories, songs, videos, arts, crafts, live virtual experiences, and challenges to learn all about money, the secret strategies of the rich and wealthy, as well as the habits that will help you make your dreams come true! Learn more about joining the Money School.