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This may seem odd for someone in high school, but I feel that teaching financial literacy to young children and giving them a foundation for saving and investing is very important.
These days kids are exposed to so much advertising on TV and online, making it seem like we all need the next great toy or amazing device.
Kids who are well-informed about their finances one day will turn into adults who manage money well, have savings, and are more likely to have a good credit score. This in turn paves the way for them to be able to achieve their goals of a good education and buying a car or a house one day as they begin their careers.
I’m currently a junior at Dr. Michael M. Krop Senior High School. But the summer before I attended eighth grade at Aventura Waterways K-8, I wrote Scout’s Allowance, A Build Your Own Adventure. I wanted it to be a fun, engaging and entertaining book for kids but also an educational tool for them to learn about the different ways they can save and spend money. I wanted them to understand that they didn’t have to spend their allowance right away.
Part of my motivation was watching my friends handle their money when we would go to the mall. They would spend their money on the first things they saw at stores like Pacsun and Sephora. They were satisfied with their purchases but felt disappointed that they had nothing left afterward.
Scout’s Allowance, A Build Your Own Adventure is the story of a little girl, Scout Bradley, who gets her allowance and is trying to decide what to do with it. To keep the kids engaged, I chose to make this a choose-your-own-adventure story where readers are given several choices about what to do with their allowance. They can choose to spend it, put it in the bank, store it in their piggy bank, invest it, or start a business.
I tried to use all these adventures to teach children about saving and investing through the eyes of someone their own age excited about having some money to spend.
Part of the reason I have a knowledge of finance is because I started by own small business when I was 10. I wanted to create bracelets and sell them. My mom and dad lent me $150 so that I could buy all the supplies I needed. My mom took me to Michael’s. We got the beads, other supplies and I got to work.
I took some of them to a nearby toy store, Learning Express, to sell at $9.99. I advertised on social media as well. I ended up selling 100 of them so my business did end up being successful. It got me thinking about how great it would be to share some of what I’ve learned with my peers.
We have gotten a great response to the book. Amazon sold out and my young cousin as well as many other students I’ve shared it with seem to not only enjoy it, but grasp the concepts in it amazingly well.
I was so excited to give a presentation at two elementary schools, Aventura Waterways K-8 and Virginia A. Boone Highland Oaks Elementary School. Both schools will be using my book to teach Kindergarteners, first and second graders about financial literacy through the lesson plans I am organizing in conjunction with Miami-Dade County Public Schools. This opportunity with the school district is another reason why I think Miami-Dade County Public Schools is the best choice to learn about financial literacy.
I hope this will start a tradition in schools to help students have a good grasp of their finances as kids, teens, and adults. This skill will open a whole world of possibilities.
As for me, I hope to attend the University of Pennsylvania’s Wharton School of Business and have a career in finance one day. I aspire to make a career of my passion for business and finance.
Daisy Stein is an 11th grade student at Dr. Michael M. Krop Senior High School, Miami-Dade County Public Schools.
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