Family Living
Focus
by
Nancy E.
Wallace
Westmoreland Co,
Extension
Children And Money
Learning Begins Early
Why should parents teach chil
dren about spending and saving?
According to the American
Bankers Association, the average
American family spends $1.22 for
every dollar it earns. No, it is not
a misprint.
While it is not a topic for brag
ging, Americans tend to spend
more than they earn. Teaching
children financial skills begins
early in life. Children’s attitudes
about money are most influenced
by (in order) parents, the media,
their peers/siblings, and their own
successes and failures. When
begun early, spending and saving
habits become learning experi
ences.
4
LOST
STREAM
MAP
The STREAM MAP OF
PENNSYLVANIA was completed in
1965 after a thirty-year effort by
Howard Higbee, a former Penn Stale
Professor
The map sold extremely well—
until it was lost several years later
Incredibly, the printer entrusted with
the original drawing and printing
plates declared bankruptcy, then
carelessly hauled Higbee’s years of
work to a landfill
Experts told Professor Higbee that
reprints were impossible, because
the maps were printed in non
photographic blue.
The few remaining copies
became prized fisherman's
possessions, known to some as the
“Lost Stream Map ” Higbee was
offered $4OO for one of his last
maps
Then, in 1991, at the age of 91,
Howard Higbee's dream came true
Karl Ings and Larry Seaman of Vivid
Publishing, Inc, a Williamsport firm,
found new technology that enabled
them to reproduce and republish the
map Howard said, “I never thought
I'd live to see this day"
Before his death in 1993,
Professor Higbee shared his
knowledge of map making with
Seaman and Ings, and supported the
creation of new state stream maps
Stream maps now cover 18 states,
New York, Michigan, Ohio,
Maryland-Delaware, New Jersey,
Northern California, Washington,
Colorado, Wisconsin, Virginia,
Missouri and 5 New England States
All 50 states will be available by the
end of 2003
Children who learn good
money management skills are
more likely to become adults who
can make sound decisions, avoid
excessive debt, and manage in
come and expenses to teach fin
ancial goals.
Kids are interested in money.
As early as four, children learn
that money buys “stuff.” Start
talking to your preschooler about
money. Use a piggy bank and
teach how to identify and count
coins. Between the ages of three
and five, most children can’t
equate the actual size of the coin
with its value. For example, a
four-year-old doesn’t understand
that a dime the smaller coin in
size is worth more than a nick-
. PER MAP
Stream Maps £
of Pennsylvania, New York
New England, New Jersey, Ohio,
& Maryland/Delaware
Why eveiy angler and boater needs these maps
ll is eslinuleil lhal KKr of all ihr aitjjlei - (dtrli WV of the fish Krgaidlrss of ulnrli group \ou fall min llirir - a -ore
«a\ lii ii|i Mini Olid- -impli In non fi-lnn» »dloi- Non. will this md|i \lll1 l an find hidden -hidm- dinl laki-
Penn-diania. Ohm. Vn hi»land. Maryland & Delaware and Nen Wk arr loaded mill gieal fi-hm: hole- mam of
them oierlooked. Thou-and- of mile- of -lieam-. rner- and lake- are non ed-\-10-lorale on one map
The i-fool-h\-'i-fool Penn-diania map -Iron- Ii.OIIO mile- of -lieani- pin- lake-
The !-fool-ln-i-foot Ohio map -Hon- 29.11110 mile- of -beam- pin- lake-.
The i l/2-fool-ln-l 1/2-foot Nen dork map -him- 6’i.HIMI mile- of -beam- pin- lake-.
The f-fool-lii-l-fonl Nen filmland map -lion- 16.000 mile- of -Ireant- phi- lake-
The 2 l/2-fnol-l»-.)-fool Nen Jer-e\ map -lion- BJOO mile- of -Iream- phi- lake-
The.! l/2-fool-ln-2-fool dlanland/Delanare map -him-12.1100 mile- of -Iream- phi- lake-
Professor lligbee’s maps
are the first and only
highly detailed maps of
their kind
RAVE REVIEWS
“It is amazingly detailed and
names some creeks in the
Mohawk Valley that can't
even be found on
topographic maps ”
—John Pitarres,
OBSERVER-DISPATCH,
Utica
“If you’re looking for the most
definitive maps ever created
depicting every single creek,
river, stream, pond and
lake, then ‘Professor
Higbee’s Stream Maps’ are
without question the finest"
—Howard Brant,
THE NEWARK STAR-LEDGER
“It is in showing where to find
out-of-the-way trout streams
that makes the map such a
treasure to the fisherman ”
—Joe Gordon,
TRIBUNE-DEMOCRAT,
Johnstown
el. The actual number of coins is
more important than the value.
By using the piggy bank theory,
you can also begin to teach sav
ing for a specific item.
Plan, however, to include the
buying aspect into this equation.
Four-year-olds aren’t ready for
saving for long term goals. Dur
ing the preschool years, children
begin to understand commercials
on television. They learn quickly
that the items they see on TV
must be purchased. Begin talking
with them about the financial re
alities of life and how choices are
made. They will not grasp the
concept immediately.
Begin early. It takes years to
understand those realities. Win
dow shop with children. Take the
child to the store and check out a
toy he or she saw on television.
Look over the toy. Parents and
child can decide if the toy does
what the TV commercial prom
ises.
Once a child shows both inter
est and understanding of the con
cept of money and that it can be
exchanged for goods and serv
ices, he or she is ready to learn
the basics. By age five, many chil-
FREE SHIPPING!
SAVE $6.00
FREE GUIDEBOOK WITH ALL MAPS
Pinpoint the best fishing in PA, OH and NY with this valuable
guide Easily locate streams and lakes shown on the Stream
Map both alphabetically and geographically Your map and
guidebook will take you to the select fishing waters
i 1
ORDER YOUR COLOR STREAM MAPS
Available rolled or folded ALSO AVAILABLE in heavy gauge LIFETIME
GUARANTEED, glass-like dear-lamination write-on wipe-off surface,
with brass eyelets for easy hanging
j State Stream Map
| OLD PRICE
ROLLED FOLDED LAMINATED
ttOC QC £O£QC fr4C nc
FREE SHIPPING $6 00 OFF'
PA 3 FT by 5 FT 51995 $1995 $39 95
NY 35FTby 4 5 FT $1995 $l9 95 $39 95
NE 3FTby 4 FT _51995 $1995 $39 95
NJ 25FTby 3 FT $l9 95 $1995 $39 95
OH 3FTby 3 FT ~51995 “$1995 “$3995
MD/DE 2 FT by 3 5 FT $l9 95 $1995 $3995
Check or money order enclosed $
■ Each map includes the FREE Guidebook
■ Each rolled and laminated map shipped in a sturdy storage tube
I Name
I Address
i City Stale Zip
I MAIL to LANCASTER FARMING
Dept. Map
1 East Main St., P.O. Box 609, Ephrata, PA 17522
Payable J Check Enclosed J VISA J Mastercard J Discover
Card#
Signature
i Exp. Date
I I
Lancaster Farming, Saturday, August 2, 2003-B5
dren are ready. At age five or six,
parents may want to introduce
an allowance and the concept of
savings. By this age, a child can
identify coins and cash, know
how to count and have a basic
understanding of spending.
The purpose of an allowance is
to teach children how to manage
money based on their needs,
wants, and goals.
A debate surfaces: “Is an al
lowance given for chores done
around the house? Or, is it given
in order to teach money manage
ment?”
Views differ. Some parents feel
that allowances should be earned
for doing jobs around the house.
Others feel that as a member or
the family, children share in the
family income.
Neither viewpoint is right nor
wrong. The allowance can begin
to teach the basics of money
management. It should not be
used for punishment. The big
issue is that the family should
talk about money, allowances
choices, and decisions together.
For children, between the ages
of five and nine, the allowance
should be paid once a week. It
can be a small amount that the
GOT WOOD?
WE HAVE THE FURHACEI
• All stainless steel
construction
• Uses present central
duct or Hydronic system
• Heats home/household J
hot water ' ~„.y I
• Shaker Grates { 'rl i J
100,000-250,000 btus
WILLIAMSON
ENTERPRISES
601/656-2639 *lO Year
877/606-3113 Warranty
child can spend or save. Restric
tions such as savings, church giv
ing, etc. can be placed on the use
of the allowance or any money
received from gifts. The restric
tions are part of teaching chil
dren to plan the use of their
money. When children begin
spending money, parents can
help them analyze their decision
making. Some purchases are
good and some are bad. The
spending lesson is what is impor
tant.
How much should parents give
for an allowance? There is no
sure answer. Remember that chil
dren have three uses for their
money spending, saving, and
sharing. Consider all three as you
decide on an amount. Discuss it
as a family. The allowance
should reasonably fit into the
total family budget.
Children learn to manage their
money through their own experi
ences. Parents oversee that expe
rience. They learn through trial
and error just like their parents
did. Hopefully if they learn as
children, the money mistakes as
adults will be more easily han
dled.
Light Up Vour Home
With n Tubular Skylight
L,
Noturol Light
• Bright, pure, health),! light
• Little or no heat gain or loss
• Fits oil roof types
• 10", 13", 18" equals up to
1,000 watts of light
• 25 year warranty
Have us install or ask for the
Do-lt-Vourself Kit.
Con be shipped UPS
265 E. Meadow Valley Rd., Lititz, PA 17543
717-733-7160 • 717-627-6886
1-800-247-2107
Financing Available W-MAZ
Li 96,
I*o