You can trace many of your habits, good or bad, back to your early years. [highlight]The art of saving your money is one of those habits. [/highlight]I can remember my first passbook savings account and the excitement to have something to call my own.
The major occasions in my life, such as my First Communion, enabled me to watch my money pile up in the little blue booklet. I felt the joy of having my own “rainy day fund” and would imagine numerous scenarios of how I would use it one day in the future.
My daughter Julianne had learned the art of saving early in life and, when being fortunate to have been given some spending money, would always account for each penny. During her 1st grade of elementary school, she fell off her bike.
With great fanfare we headed off to the doctor’s office and arrived back home with a white pasty cast on her broken left thumb. Never to be slowed down, Julianne headed back to her 1st grade class to show off her bandaged hand.
After much admiration, things went on as usual. During the lunch break, Julianne purchased her pizza lunch and received her change, a quarter. Heading off to recess and her favorite swing set, Julianne had a dilemma. [highlight]Where to save her quarter?[/highlight]
With no pockets on her colorful sundress, she decided to hold her quarter in her cast. After a few turns on the swing, Julianne tried to retrieve the quarter. No luck! The quarter had traveled down her cast and was stuck on her wrist.
[highlight]Julianne decided not to share the spot where she had saved her quarter until a few days later.[/highlight] Back to the doctor’s office with the news that there was a quarter in her cast, the doctor removed the pasty cast and sure enough there lied the quarter. Unfortunately, the skin under the quarter was infected and the broken thumb would need to be healed in a soft removable splint. The infamous quarter was placed in her piggy bank.
There are many ways for you to save your quarters. The passbook saving account still exists and is a wonderful tool to teach your children the importance of saving. The automatic withdrawal from your checking account into your savings account each month is a great way to ensure that you save each month especially for the cash reserve account. However, saving a quarter in your cast is not the recommended way!
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