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Money Memories Part 2

August 04, 2021
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Have you considered impactful money moments from your childhood? It's amazing how these stories shape our beliefs around finances. This week we asked Amy and Alex about money lessons they learned early on.

Alex - The first big purchase I saved up for was a Garmin watch when I was in elementary school. At the time, my older brother was also saving for a big-ticket item (Xbox-360), so we could both keep each other accountable for our savings goals. I remember saving up all of my allowances and doing extra yard work to raise up the money to eventually buy my watch. Another lesson that I learned here was to always buy a model older, which saved me a good deal of money and is a lesson I will be sure to remember when it comes time to buy my first car. 

Amy - When I was 5 or 6 years old, I wanted to open a lemonade stand. I remember that it was not summer or even sunny out. I didn’t care - I was determined to open up my little lemonade stand. I set up in the front yard and before I knew it I had people stopping to buy lemonade. By the time that I was done, I had made $90! At that age, it felt like a million dollars. My parents were shocked at how much I made. They were definitely proud that I had set my mind on something that I wanted to do and I made it happen. That night I decided to treat my family to ice cream and I remember being so excited I was able to. This experience made me appreciate the value of a dollar and even more so knowing that I worked for it. 

Speaking of lemonade... Did you know Lakewood has Lemonade Day? Mark your calendars for August 27th and get thirsty! Lemonade Day has tools and a curriculum for kids to plan, open and operate their own lemonade stand. This is a unique opportunity to share with kids and grandkids focused on planning, working, and saving!