Inspiring Money Story: Save, but still treat yourself
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Today, we’re excited to introduce you to Faith! She's a little younger than our previous interviewees, but she's already learned quite a bit about money.
We first heard a little about Faith when she wrote a ‘post' on her dad's blog almost one year ago, and we thought it would be great to hear what she's doing now.
Fostering financial literacy and teaching kids about money is something we feel strongly about here at Women Who Money and we think you'll agree Faith is off to a great start!
We hope you enjoy her interview today. Please feel free to leave her a comment or say hello below!
Inspiring Money Story: Faith
1) Please Introduce Yourself to The WwM Readers!
Hi, my name is Faith. I’m 8 years old, and I’m in 3rd grade. I have a fish named sharky and a hamster named Chichi. My favorite color is pink!
2) Are you currently earning money and if so how?
I make money by selling lemonade and sell/make different toys. I charge money to go downstairs in my grandma's basement hahaha! That is our hang out – 25 cents to get in.
3) What’s your favorite thing your parents have taught you about money?
My parents/dad taught me always to save but still treat yourself. You should treat yourself because sometimes you feel like you save too much! You should save so you still have money to live.
4) Do you think you’ve ever made a money mistake? If yes, what was it and what did you learn from it?
I once spent all my money at one time and learned when you're trying to pay someone it doesn't work!! 🙁 my mom bought me something I had to pay her back, she was not happy because I didn’t have the money.
5) What’s your favorite subject in school?
My favorite subject is math, I’m good at it and it is fun!
6) What things do you like to do when you aren’t in school?
I like doing gymnastics. I can do a backbend, cartwheel, handstand, and a jump split!!
7) Do you have any money advice for other kids?
Save your money. If you want to buy a toy ask yourself do I need this.
8) Is there anything else you’d like to tell our Women who Money readers?
If you are not retired yet you need 25x what you need to live! (25X your annual expenses)
THANK YOU FOR READING!!!!!!!!!!!!!
The WwM Team’s Key Takeaways from our Interview with Faith:
- The entrepreneurial spirit can start at a young age – encourage it!
- Saving money is important, but you need a little indulgence from time to time in your life too
- Being in debt isn't fun, and the people you owe won't be happy if you can't pay them back – pay it off
- Ask yourself if what you're about to purchase is a real need or just a want – and then don't spend too much on wants
- It's important to make sure you save enough for a secure retirement
Thank you, Faith, for sharing your story with us! Good luck with the rest of your 3rd grade year. We hope you keep loving math and gymnastics!
Find other Inspiring Money Stories here, and if you’d like to be considered for an interview or to share your story, send us a note.