Young GO participants talk money

When I was 8, the extent of my money experience was counting the coins in my piggy bank to see if I had enough for the ice cream truck or eagerly anticipating my annual birthday card from grandma with crisp dollar bills equaling my accumulated years.

Let me tell you, kids participating in the Women's Fund GO: Give Back youth philanthropy program are well beyond counting change for ice cream in July!

Last Saturday I met with these young GO Fund holders for their winter philanthropy education session to discuss three key aspects of money; learning to share, save and spend. The youngest students looked at the difference between needs and wants; a line that is often blurred if your family has more that enough to cover all their needs - and most wants as well. The kids recognized the importance of saving for both short term and long term goals, with aspirations from vacation spending money to college accounts making that list. But perhaps the most thoughtful discussion occurred around the idea of setting aside money to share with others. These elementary students understand the importance of not just saving to spend on yourself, but sharing the resources they have with those around them. One 2nd grade student told of her parents matching the amount of allowance money she chooses to give to help others. What a poignant and empowering lesson.

These young students created a collage depicting the ways they choose to share with others, what they may save for, and how they enjoy spending money. They took home a three compartment Moonjar Moneybox to help practice the “Share, Save, Spend” concepts at home and reinforce positive money habits.

Students in grades 5 - 7 were challenged to understand the relationship between money, values and habits as they share, save and spend. Discussion included aspects of saving such as how interest accumulates, the value of starting young, paying yourself first and setting goals. Spending may be the most obvious and fun aspect of money. Students enjoyed activities demonstrating the difference between cash, credit and debit, avoiding regrettable purchases, and the trap of paying interest.

Most impressive in these students is the attitude each of them has toward sharing money. Through their GO Fund, parents are instilling the importance of giving back. And the kids get it! They see the potential impact their giving will have in the future. As one 6th grade girl pondered aloud, "so the more money you have in the account, the more interest you earn? And the more money I have in my GO Fund the more I can give away each year!"

It's truly empowering to grasp your ability to make a difference at such a young age! And so much more valuable than just saving change for the ice cream man.