Praise for Pennies
Habit formation and celebrating great money habits are at the heart of Sammy Rabbit's strategy for teaching kids about money early.
Pennies and piggy banks are tools we proudly champion. Team Sammy applauds parents and teachers who recognize their potential and integrate them into financial education.
Saving money is a cornerstone of personal finance. It lays the foundation for financial stability, independence, and wealth accumulation.
Building positive habits in early childhood creates a strong framework for lifelong success. It shapes character, fosters discipline and self-control, and establishes routines that contribute to a bright future. Encouraging these habits during childhood can have a lasting, transformative impact.
No amount is too small to develop a positive attitude and relationship with money. That’s the strength—if not the superpower—of the penny. It’s the perfect tool for building habits that last a lifetime. 
Are You a Champion of Financial Literacy and Financial Education?
If you’re looking for fun and time-efficient ways to expand your impact, let’s partner on one (or more) financial education projects! Explore Sammy's Menu of Financial Education Ideas or propose one of your own. No project is too small or too big.
With over 20 years of hands-on experience in financial education, we’ll work together to ensure your strategy is a success. Contact us today!
7 Reasons Pennies Are Powerful
Here are seven reasons why pennies are powerful, and it is important for anyone to make a habit of saving them, including kids:
They build the habit of depositing and/or saving. Saving pennies from an early age helps kids develop a healthy savings habit that can last a lifetime. It instills the value of money and teaches them to be financially responsible.
Saving pennies puts kids on the path to saving larger amounts of money. It puts them on the road to becoming financially independent.
Saving pennies establishes a beginning money mindset that is putting money aside for unexpected expenses or emergencies and as a safety net is essential. It helps kids develop a sense of financial security and prepares them for unforeseen circumstances.
Saving pennies encourages kids to delay immediate gratification. It fosters a more thoughtful approach to spending decisions and making better money choices.
Saving pennies sets up the opportunity to talk to and teach kids about other basic financial concepts such as budgeting, interest, compound interest, setting goals, and investing. It helps them become financially literate and develop important money management skills. It also sets up discussions about investing. Thus, it motivates them to ask questions and explore options such as savings accounts, stocks, or bonds, which can help their money grow over time.
Saving pennies is an excellent starting point for empowering kids to take ownership of their finances and be responsible for their own financial well-being.
Saving pennies can help kids to understand the value of money and the effort required to earn it. It promotes a sense of appreciation for their resources and not to squander them.
8 Popular Quotes About Pennies
Here are eight popular quotes on the importance of valuing and being mindful of small amounts of money, as they can add up over time and contribute to financial well-being. They highlight the significance of saving, being prudent with expenses, and recognizing the value of even the smallest amounts, like pennies.
"A penny saved is a penny earned." - Benjamin Franklin.
I have heard this quote modified due to taxation. I think the modified version is more apropos. It reads, "A penny saved is two pennies earned."
"Take care of the pennies, and the dollars will take care of themselves." - Scottish proverb.
"Pennies make dollars." - Unknown.
"Every penny counts." - Unknown.
"It's the little things that count." - Unknown.
"Don't overlook the small change; one day it may add up to a fortune." - Unknown.
"Small amounts add up to big savings." - Unknown.
"Save your pennies for a rainy day." - Unknown.
4 Sets of Research Indicate the Importance of Saving Pennies in Childhood
Beverly et al., 2013; Lusardi et al., 2013 - Saving pennies in childhood can be an effective way to introduce basic financial concepts and help children develop a better understanding of money management.
Wood et al., 2002 - Research suggests that habits formed in childhood tend to persist into adulthood. Saving pennies from an early age can help children establish a savings habit that can last a lifetime, promoting responsible financial behaviors in adulthood.
Locke et al., 2002 - Saving pennies can provide an opportunity for children to set financial goals and work towards achieving them. Saving pennies in childhood can help children learn how to set financial goals and develop important goal-setting skills that can benefit them in various aspects of life.
Mischel et al., 1989 - Saving pennies requires children to delay immediate gratification and make choices about saving now to achieve a larger goal in the future. Saving pennies in childhood can help children develop self-control and the ability to make wise financial decisions.
Piggy Banks Have Superpowers Too
One of the primary superpowers of piggy banks is they provide a visual and tangible way for kids to see their savings grow over time. This can help them develop a sense of accomplishment and motivation as they watch their savings accumulate, which may foster a positive attitude towards saving and financial responsibility. Plus, they are a big kick to shake!
Research to Consider on Early Habit Formation
"The Power of Habit: Formation, Change, and Consolidation" - James O. Prochaska, Charles C. DiClemente, and John C. Norcross (1992): This study emphasizes the importance of early habit formation in the process of behavior change and suggests that interventions targeting habit formation in childhood may have long-term impacts on behavior.
"The Role of Habit in Human Behavior: A Multidisciplinary Approach" - Wendy Wood, Jeffrey M. Quinn, and Deborah A. Kashy (2002): This study reviews the literature on habit formation across various disciplines and highlights the significance of early habit formation in shaping behavior. The authors argue that habits formed in early childhood tend to persist into adulthood and influence a wide range of behaviors, from health-related behaviors to financial decisions.
"The Importance of Early Childhood Development in Breaking the Cycle of Poverty" - Jack P. Shonkoff et al. (2009): This report by the National Scientific Council on the Developing Child emphasizes the importance of early childhood development, including the formation of healthy habits, in mitigating the impacts of poverty and promoting lifelong well-being.
Additional Related Research to Consider
Research by Angela Lee Duckworth and her team: In a study titled "Grit: Perseverance and Passion for Long-Term Goals," Duckworth and her colleagues found that while early interest and engagement in a particular domain (such as a hobby or activity) may be important for developing expertise, it does not necessarily guarantee long-term success. They found that grit, defined as a combination of perseverance and passion for long-term goals, was a better predictor of success than early interest or engagement alone.
Related Reading and Resources
Introducing Sammy's Let's Get Kids Financially Literate Campaign
Sammy Rabbit Says - Parents Teach Kids to Give Their Pennies a Purpose
Contact Sammy
If you have questions or suggestions or want to learn more about Sammy Rabbit and his mission to teach kids great money habits and other important life skills, contact us!
Introducing Sammy Rabbit's Money School
Let's get kids learning about money. Let's get kids financially literate!
Sammy's Money School is a one-of-a-kind approach to financial education. It offers both "Free" and "Low Cost" membership programs. The school is filled with a treasure trove of activities, stories, songs, videos, arts and crafts, live virtual experiences, and challenges to learn all about money, the secret strategies of the wealthy, as well as the habits that will help you make your dreams come true!