{"id":335,"date":"2009-10-06T14:18:55","date_gmt":"2009-10-06T22:18:55","guid":{"rendered":"http:\/\/kidnexions.wordpress.com\/?p=335"},"modified":"2009-10-06T14:18:55","modified_gmt":"2009-10-06T22:18:55","slug":"wanna-know-what-kids-are-saving-for","status":"publish","type":"post","link":"https:\/\/www.familymathnight.com\/blog\/?p=335","title":{"rendered":"Wanna Know What Kids are Saving For?"},"content":{"rendered":"<p>Very cool.\u00a0 I&#8217;ve actually wanted to know the answer\u00a0to this for a log time&#8230;on a bigger scale than the students I work with.\u00a0 And I happened upon it today.\u00a0 US Bank surveyed 1500 (that&#8217;s a lot!) kids ages 5 &#8211; 12 to find out what they were saving for.\u00a0 Here&#8217;s what they discovered:<\/p>\n<ul>\n<li>30% college<\/li>\n<li>15% car<\/li>\n<li>10% pet<\/li>\n<li>9% trip<\/li>\n<li>8% video game<\/li>\n<li>7% helping others\/animals<\/li>\n<li>6% iphone<\/li>\n<li>5% laptop<\/li>\n<li>4% musical instrument<\/li>\n<li>3% cell phone<\/li>\n<li>3% other<\/li>\n<\/ul>\n<p>I actually was surprised by the number of kids this age saving for college.\u00a0 I&#8217;ve no doubt they&#8217;re saving for other things, as well, but the percentage that is consistently contributing to their college fund was impressive.<\/p>\n<p>And\u00a0that they are also\u00a0looking ahead to the day they get the car keys was equally impressive.\u00a0 Sometime the &#8216;future&#8217; is just too much for kids to grasp actually saving for.\u00a0<\/p>\n<p>Okay, so it&#8217;s probably a little biased towards kids who have savings accounts (the kids surveyed had accounts at US Bank) and these kids are being trained to think saving is a good thing.\u00a0 But that&#8217;s okay.\u00a0\u00a0The goal is to get as many kids as possible to open accounts so that they, too can learn to save for the future.<\/p>\n<p>I did\u00a0think it was interesting that the iphone and cell phone categories were separated.\u00a0 Together they total 9%.\u00a0 Aren&#8217;t they the same thing, technically?\u00a0 All I can say is that nothing can touch the marketing geniuses at Apple.<\/p>\n<p>Then there&#8217;s the pet category which came in at 10%.\u00a0 Could this be a ploy by the parents to put off having one more thing to take care of?\u00a0 Probably not.\u00a0 I would\u00a0love to know what kind of pet they&#8217;re saving for.\u00a0 And if this includes some of the things that come along with a pet like leashes or cages.<\/p>\n<p>I liked seeing the (other) 9% saving for a trip.\u00a0 My guess is these\u00a0are band or science camp trips.\u00a0 Having kids contribute to these often expensive trips is a great first longer-term savings goal.\u00a0 If they can save for that, then for sure they can save for their car&#8230;or college.<\/p>\n<p>And, of course, it&#8217;s always nice to see kids saving for the purpose of giving.<\/p>\n<p>All in all, I was pleasantly surprised.\u00a0 Saving is a habit we need to be teaching all of our youngsters.\u00a0 I know of a group that&#8217;s already well on their way.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Very cool.\u00a0 I&#8217;ve actually wanted to know the answer\u00a0to this for a log time&#8230;on a bigger scale than the students I work with.\u00a0 And I happened upon it today.\u00a0 US Bank surveyed 1500 (that&#8217;s a lot!) kids ages 5 &#8211; 12 to find out what they were saving for.\u00a0 Here&#8217;s what they discovered: 30% college 15% car 10% pet 9% trip 8% video game 7% helping others\/animals 6% iphone 5% laptop 4% musical instrument 3% cell phone 3% other I&#8230;<\/p>\n<p class=\"read-more\"><a class=\"btn btn-default\" href=\"https:\/\/www.familymathnight.com\/blog\/?p=335\"> Read More<span class=\"screen-reader-text\">  Read More<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[11,16,17],"tags":[23,24,26,29,31,228,33],"class_list":["post-335","post","type-post","status-publish","format-standard","hentry","category-kids-and-saving","category-teachable-moments","category-teaching-kids-financial-literacy","tag-kids-allowance","tag-kids-and-finacial-literacy","tag-kids-and-money","tag-kids-money-management","tag-kidssave","tag-teaching-kids-financial-literacy","tag-teaching-kids-money-management"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Wanna Know What Kids are Saving For? 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