Seven-year-old has superior saving skill
Hannah Barkla, a student of Tawhiti School, won a total of $1000 this month. She entered a competition on Facebook that Staples Rodway Taranaki held as part of Money Week in August. As well as posting tips and tricks throughout the week, Staples Rodway ran the competition to encourage parents to teach their children to be more money savvy.
Hannah, 7, won $500 for herself and $500 for her school, as well as sports equipment donated by Sport Taranaki.
Hannah’s mother, Kate Reade, said they gave the children pocket money each week and whatever amount they decided to save in their bank account, their parents doubled it.
‘‘Although sometimes a bag of lollies sounds more appealing than money sitting in the bank, she does really well with her savings and this contribution will be very beneficial for her important years to come.
‘‘We look forward to adding more and watching it grow as an investment for her future’’.
The Staples Rodway Money Week competition prize was designed to get people thinking more creatively about saving and spending money and so the $500 given to Hannah’s school must go towards an initiative to raise additional funds.
Ideas are already floating around about what the school can put the money towards, including an art auction, raffles and a guess the number competition.
Miss Baron, Hannah’s teacher, was keen to put the ball in the children’s court to see what other awesome ideas they come up with.
Staples Rodway associate Kylie Hollard is eager to help parents educate their children on the importance of saving and has provided tips to help with this:
❚ Encourage children to start saving small amounts when they are young (saving pocket money for bigger purchases).
❚ Open a savings account for your child at your local bank, discuss with your child how they can earn interest and watch their money grow.
❚ Encourage your child’s school to talk about savings and investments and everything in between (eg one example is software that Kendall Flutey has designed called Banqer. This software simulates online banking for use in the classroom, providing hands on learning for kids to develop confidence with money)
To see all of the tips and tricks posted for Money Week visit https://staplesrodway.co.nz/ news/start-small-think-bigcompetition/ for more tips.