I was at CS 92 in the Bronx, NY, today taping a segment for Bloomberg TV about children and money.
Ms. Cunningham’s fourth grade class of eighteen English learners (in the picture with Ms. Ana Celia Delgado, Assistant Principal), had been preparing all week for this event. They had learned about credit cards, checking accounts, savings accounts, and making change.
I had them at the library for half an hour where I asked them about the value of money and what they did with what they received as gifts and allowances. It surprised me to hear that a few of them were saving to go to college!! Others were incredibly generous: they were saving to help their parents in case of an emergency.
During the past week they had also conducted some interesting research: they asked third, fourth and fifth graders around the school a few questions: 1) who received an allowance, 2) who saved, 3) who spent it, and 4) who shared it.
Their discovery may be something for the adults in the family to pay attention to: the younger ones are saving at a much higher rate than the older kids who seem to already be caught in our consumerist society. Given the current economic situation of this country where savings levels per capita are close to 0, wouldn’t it be a great time to start teaching our kids about the value of money early on?
The students in CS 92 have surely learned very important lessons about saving money this week, and I hope you can catch them on TV soon.