An official website of the United States government
A .mil website belongs to an official U.S. Department of Defense organization in the United States.
A lock (lock ) or https:// means you’ve safely connected to the .mil website. Share sensitive information only on official, secure websites.

Youth saving money for the future

  • Published
  • By Airman First Class Anthony J. Hyatt
  • 325th Fighter Wing Public Affairs
TYNDALL AIR FORCE BASE, Fla. --  Saving money can be a hard habit to pick up. Debt in U.S. households rose from 96 percent of personal disposable income in 2000, to 113 percent at the end of 2004, according to U.S. News and World Report. With personal debt in America increasing, educating our children about financial responsibility has become a priority at Tyndall Elementary School.

People save money in case of emergencies, for college, for retirements or for planned vacation trips in the future. Since saving money is such a hard task to achieve, the plan is to start teaching students to save money at a young age.

"I think it's never too early to think about savings," said Libbie Pippin, Tyndall Elementary School principal. "Our students are the right age to learn about making savings a habit."

"It's A Habit, Inc.," a company from Los Angeles, is coming to Tyndall Elementary Monday to teach financial responsibility to youth ages 5-12.

"Sammy Rabbit is the character coming to Tyndall Elementary to instill in young people a sense of how important it is to save money," said Jean Schmidt, 325th Mission Support Squadron community readiness consultant.

Using books and music, the presenters approach the subject by relating to a character called Sammy Rabbit. Sammy Rabbit reinforces the importance of saving money by changing childrens' lives "one dime at a time."

"The performance exposes children to the idea of saving money and could instill a habit that lasts a lifetime," said Schmidt. "Education and information are key factors in producing a future society that can help them be successful at achieving their financial goals."

"Two hundred eleven kids will be attending the presentation and will be given a CD and a book to take home to reinforce the experience," said Schmidt.

The program was funded by the Air Force Aid Society. AFAS is a private non-profit organization whose mission is to help relieve financial distress of Air Force members and their families, and to assist them in financing their higher education goals.

Tyndall is one of the first bases to host this visit. The presentation will also be held at Eglin AFB and Hickam AFB, Hawaii.

Imagine a nine year-old saving a dime a day. In one year, the savings would be $36.50. That may not seem like a lot, but if that child saves for another ten years, his savings would increase to $365.
The habit of saving money overtime can have a significant impact on a student's financial goals--a "gift" to themselves to help ensure a bright financial future.

Saving money takes planning and often, sacrifices. But educating our youth about the importance of saving money will offer them a bright financial future and added opportunities throughout life.