The Bank Roll

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

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: 9

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 can be tough. Here’s a few of our blog posts to help you when talking with your kids about money:

·        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!