Children Answer Money Questions

Wed, 18 Jul 2012

We asked some Webster bankers to see what their children knew about money and how it works by asking them simple questions. Some of their answers may surprise you.  

 

Alice, Age 2

children answer money questions

If you had lots of money, what would you buy?

A kangaroo 

How much money does a kangaroo cost?

$22  

If I gave you $10 what would you spend it on?

Batteries (for her toys)  

How do you buy things?

Put them in the shopping cart and wait in line  

How do you save money?

Give it to Daddy  

 

Ace, Age: 5

Why do we put money in the bank?

So when you need it, you can go there and get it  

How long does it take to save enough money to buy a car?

10 hours  

If I gave you $10, what would you want to spend it on?

A toy  

How much money do you have to pay to go to college?

90 diamonds  

How do you get your money?

Grandma 

Do you save your money?  If yes, for what?

Not at all - I lost my wallet  

What costs the most money to buy?

A whole house 

How much money did your mom's cell phone cost? 

20.00  

A quote from Ace: "What is an ATM anyway?  It's just a little box.  Who goes in it?"  

 

Zoey, Age: 7

Why do we put money in the bank?

When you put it there, you can get it there  

How long does it take to save enough money to buy a car?

Until I am 18  

How do your parents get money?

Work  

How much money do you have to pay to go to college?

I am using my own money - $24.00  

What job makes the most money?

Dentist  

How do you get your money?

Tooth fairy  

Do you save your money? If yes, for what?

Yes, to go somewhere in the summer far away  

What costs the most money to buy?

Our trip to Florida    

 

Rebecca, Age: 9do your kids talk about money in school?

Why do we put money in the bank?

I don't know  

How long does it take to save enough money to buy a car?

18 years when you can get your license  

If I gave you $10, what would you want to spend it one?

10 things from the dollar store

How do your parents get money?

Work  

How much money do you have to pay to go to college?

$1,000  

What job makes the most money?

President  

How do you get your money?

Birthdays  

Do you save your money? If yes, for what?

Yes, for toys.  

What costs the most money to buy?

House  

 

Teaching your kids about money doesn't have to be difficult. Here are a few of more blog posts to help you teach your children financial concepts:

·        Help Set Your Children Up for Financial Success

·        Kids and Cash: 7 Simple Money Concepts To Teach Kids

·        Why Interest Rocks

Ask your kids questions about money and post their answers in the comments below. We’d love to hear from you!

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