April 22, 2014
Tool Kit + Story Book = Saving
To some, "Tool Kit + Story Book = Saving" sounds like an even stranger cousin to one of Einstein's all too famous mathematical formulas. However, to those that have spent any time around 1st National Bank's financial literacy team or read Jayne Black's website, it is so much more than that.
On April 21, Lindsay Monacelli, 1st National Bank Loan Operations Specialist, was given the opportunity to go out into our community and not only volunteer, but to talk to children about saving money and the tools that they may need to accomplish a saving goal. Although the group that she spoke with was small in numbers, they were still very mighty. The participants ranged from grades 1 through 12.
Lindsay kicked off their time together by reading aloud Money, Money, Honey, Bunny and encouraged participation from the group. However, little encouraging was needed. Before long, the older participants were explaining things to the younger participants. After the story was over, the group talked about the differences between goods and services, as well as spending and saving.
The discussion about spending and saving proved to be a great gateway into the "Tool Kit" activity which was created by Jayne Black, Mrs. Midwest International and creator of "Saving Smart for 5 Generations". Each child was given either a toy tool from the "Money Smart Tool Box" or a laminated card with a picture and a description of a tool on it. The activity was kicked off with a simple question, "How do we build a savings account?" The toy tools and laminated cards were then used as a hands-on matching game where each child had to find their partner. For instance, if one child had the toy screwdriver and the other hand the screwdriver description card--they found a match!
So tell me again…how does "Tool Kit + Story Book = Saving?"
- The Story Book proved to be a great ice breaker for the group. It encouraged interaction within the group and sparked conversations about money, saving, spending and goals.
- The Tool Kit offered a fun twist to an old favorite (The Matching Game) and had the children questioning what tools they really do need to build a savings account. Just like using a screwdriver takes persistence, we learned that meeting a savings goal does too!
