Saving Misconceptions
In a 1999 Jeff Danziger cartoon entitled “Reports Say Young Americans Don’t Save Very Much,” four teens are hanging out at a diner. One girl says, “What?! I save a lot! I bought this sweater on sale and I saved 20 percent!”
Her friend adds, “If you go to Wal-mart you always save.”
Another friend pipes in, “I saved $1000 when I bought my car….”
A goofy-looking boy says, “If you wait ‘til after Christmas you can save even more.”
(You can view this cartoon at: http://www.danzigercartoons.com/
cmp/1999/danziger490.html)
The problem is simply, none of these teens is actually saving! They are spending – maybe finding ways to spend less than the full retail price, but they are spending, nonetheless.
Saving Is NOT:
Finding a great sale for items you didn't plan to buy in the first place
A way for kids to put aside their own money and beg mom, dad or grandparents to buy stuff for them
Buying things with credit cards instead of cash
Saving IS:
Stashing money away, ideally in a secure bank or investment account that will help our money accumulate faster.
Available Slides:
Financial Values Puzzle
Allowance
Responsibilities Based Allowance
Misconceptions About Saving
Forcing vs. Inspiring Kids to Save
Giving Kids Incentives to Save
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