What was your first money memory?
Did it stick in your head and heart? How has your first money memory and experience informed your money mindset and relationship with money over time? Did it become a habit and help you build more financial stability, security and freedom in your life?
The purpose of this series is to share and talk about these experiences with one another with the objectives of building a community of advocates who expand each other's knowledge and inspire ourselves and others to teach and talk to children about money while they are young, around ages 2, 3, 4, 5, 6 and 7.
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Making it easy to talk to and teach children great money habits while they are young is a key component to Sammy Rabbit's mission and strategy to create systemic change, giving current and future generations of children and families the knowledge, experiences and skills they need to build more financial stability, security and freedom in their lives and communities.
In Part 1 of the series, seven leaders from the personal finance and financial planning community shared their first money memories. They included: CFP's® Sheryl Garrett, Amy Irvine, J.J. Wenrich, Jamie Bosse, Tan Phan; Ray Hyson Master of Science, Personal Financial Planning, CRPC®; and CFA and LinkedIn Senior Financial News Editor, Devin Banerjee.
Today, we are sharing 5 more fascinating first money memories including one that features a HEN!
We hope you find these stories entertaining, educating, and inspiring. We find them to be an excellent way to champion early age, youth and family financial literacy. We welcome you to join in the purpose filled fun. We invite you to share your story with us. Have a Sammyriffic read!
Sheila Mmboga Afande | Financial Literacy Advocate, Founder Financial Wellness Centre
I was around 7-8 years old when I did my first engagement gig (reciting a poem to one of the government officials). I was awarded some money for the excellent performance. I was super excited for earning money. I remember my mum asking me not to buy candy with all the money. Instead, she made me invest half of it by buying a hen from her poultry farm. I learned how to take care of it until it laid eggs and hatched chicks. Later I sold them at a small profit to our neighbors. By doing that, I was able to multiply my money. This made me super excited and raised my curiosity in matters of Investing and Business. I kept repeating the same process every time I would get money. I have continued to day that until this day. For all the income I earn, I allocate half to investing so as to multiply my money. The other half I spend.
Hugh Wynn | Blogger at WynnSights
When I was a wee child, my chores included milking a couple of cows, filling hay cribs for the rest of the herd, slopping hogs, pumping fresh water for my mother’s kitchen, and tending to the chickens – including securing their roost each evening to ward off night-prowling varmints. My reward for these tasks was the week’s accumulation of “surplus” eggs – a commodity that I exchanged for cash at the local produce store. Those produce store visits exposed me to more than swapping eggs for cash. My first duty was to check the store’s chalkboard for that day’s egg quotes, frequently a stomach-churning experience. I quickly learned selling a commodity could be a risky endeavor. To this day, I appreciate these simple but effective lessons in personal finance – and my mother’s insistence that I open a savings account at the local bank into which I made a weekly deposit before a single penny of egg money could be spent elsewhere.
Patricia De Fonte | JD, LL.M
My first money memory is sitting down with bank manager to open my first bank account. I was 7 and my brother was 6. I think we had less than 7 dollars each. My dad arranged it - he told us we had a meeting at the bank. We were given a passbook and a nice talk about how banking works. 10 years later I bought a car. I did the same for my children when they were about 7 and 9. I had them meet with the bank manager where I do my business banking - Tony Roldan! He opened accounts for them. Tony the accounts are looking good!!!
Doug Nordam | Author, Raising Your Money-Savvy Family for Next Generation Financial Independence
Back in my mid-1960s elementary school years, I can remember handling change around the kitchen table. We'd wrap it in paper sleeves and take it to the Savings & Loan for deposit. I had no idea why I was doing it, but it was a fun family project that made a memory.
Xavora Holloway | Financial Services Associate
In elementary school I tried to sell flower seeds, cookies, candy. I made pocket change.
Sammy Rabbit loves championing and raising awareness on the importance of early age, youth and family financial literacy education.
One of his favorite methods to raise awareness is to share the stories of people and enterprises who want to make a difference in the lives of others!
IF you would like to be featured in this series, a Sammy Rabbit blog, his Childhood Money Memories Interview series, a Sammy Spotlight, be a Sammy Guest Blogger, contact us.
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