Not long ago I was listening to Dr Laura on Sirius satellite radio and she was talking about a study involving small children and self control. She explained that four-year-olds were given a marshmallow and told that they had a choice: They could eat the marshmallow now when the adults left the room or wait and get a second marshmallow when they returned. The children who waited for the second marshmallow ultimately did better in life. The children who were not able to control their desire to eat the marshmallow immediately did not fare as well later in life.
That all seems pretty farfetched to me. They’re four years old. I have yet to meet a four-year-old with a great deal of impulse control, especially where treats like marshmallows are concerned. I would hate to think that my daughter’s future is predetermined by the fact that she’s not able to get through the instructional part of a swimming lesson without wanting to play.
Then I read something about teaching simple finances to children starting at age three. A big part of the lesson needs to be delaying gratification. Those children who are able to learn delayed gratification typically grow up to be more responsible with money. I can understand that. Learn lessons early and practice them often and they may stick and you’ll carry them with you forever.
To help teach this lesson, Sesame Street is joining the fun. Elmo is going shopping and his eyes are much bigger than his wallet. He wants it all, but has only a dollar. Elmo has to decide what’s really important to him, what he needs to have right then and what he can save for later. Elmo wants a ball that’s $5.00. Saving shouldn’t take too long.
My children are saving, but don’t know they’re saving. Does that count?