As my oldest son was growing up, I notice how much children are target by the industries. As the latest report from the federal reserve 39% of Americans don't have enough money to cover a $400 emergency. The median value of a savings account in America is $3,500 while the mean savings balance is $26,619.43. The American dream has become synonymous with buying material goods. Today, the spending habits of American households make up 70% of the U.S gross domestic product. This consumerism doesn't stop on adults, the toy Industries have a total economic impact on the U.S of $98.2 billion (source: the toy association). Consumption habits are affecting our kids, let's be honest who could resist a big aisle full of toys or the ads of happy kids playing with colorful toys during the break of their favorite show on the tv.
It's never too early to teach our kids good financial habits that's why I wrote "My very first cash", a book to introduce saving habit for kids.