Life Times Newsletter

March/April 2002

What's your child's
financial personality type?

Find out your child’s financial personality type by answering "yes" or "no" to the following:

  1. If you give your child money, does he or she save it?
  2. Does your child lose or misplace money often?
  3. Do you often hear the words "I want, I want" when you go shopping with your youngster?
  4. If you ask your young one, "Why do you want this?" does he or she often say, "Because Johnny has one" or "I saw it on TV"?
  5. Is your child reluctant to spend any of his or her own money?
  6. Does your child get exceptional pleasure in seeing a bank account grow?
  7. If your child sees a penny on the ground, will he go out of his way to pick it up?
  8. Does your child decide to save for a special toy, and then later choose not to buy the toy?
  9. If you say no to the suggestion of stopping for ice cream or pizza, does your child ask, "Can we stop, if I pay for it?"
  10. When you travel, does your youngster want to bring presents back for all her friends?

If you answered "yes" to questions 1, 5, 6, 7 and 8:
You have a saver on your hands.

If you answered "yes" to questions 2, 3, 4, 9 and 10: 
You have a full-fledged spender in the family.

Which of the two personality types is your child?

Reaching adulthood with the insight and incentive to be a good money manager does not just happen. It takes a commitment on the part of parents.

Start early to teach children about money. Encourage them to budget. Set a good example for your children. If you earn, spend and save wisely, your children are more likely to be "money smart" also.

For more information, visit the following web sites with your children:

http://www.ext.nodak.edu/extnews/pipeline/d-parent.htm

http://www.theyoungamericans.org/

http://www.jumpstart.org/

Sandra McKinnon
Consumer & Family Economics Specialist/
Warren County CPD
MckinnonS@missouri.edu


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University of Missouri Extension Editor: Roxanne T. Miller
MillerRT@missouri.edu