On this week’s edition of Money, I’m Home, Lynne is joined by eight-year-old Andrew Loeks to talk about saving money and his financial goals for the future.

 

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0:00:04.5 Lynne Jarman Johnson (LJJ): Money, I’m home. Welcome in. I’m Lynne Jarman-Johnson with Consumers Credit Union. From finance to fitness, we have it all. And boy, do we have some fun today. We are talking with Andrew Loeks. And Andrew is eight years old, and I’m telling you what, he is a saving genius. He’s the kind of kid that just knows what he wants and how to get it. Andrew, thanks for being with us today!

0:00:33.4 Andrew Loeks (AL): Yeah, hi.

0:00:34.9 LJJ: Hi. Hey, it’s so good to see you, and I just wanted to ask you a few questions. You helped us out through some commercials with Consumers Credit Union. And you were telling us all about savings and how you like to save. How’s your savings going?

0:00:49.9 AL: Going good.

0:00:51.0 LJJ: Is it? Tell me, how are you saving every day? What are you doing?

0:00:54.1 AL: Like going to school, and every day is getting closer to my birthday. Normally, I get $50 and then half of it goes to… Like dollar bills… And half of it goes to my banking account.

0:01:10.9 LJJ: Oh my gosh, that’s a wonderful idea. Boy, by the time you get ready to go to college, you’ll have a lot of money. Tell us a little bit about… You mentioned about saving, do you do chores at home to get some allowance?

0:01:23.9 AL: I have these watches. You can have chores on them. So, when you do a chore, you get like a coin, and 15 coins equals a dollar. But last year, we stopped doing it because we just forgot when we went to Mexico, and then we stopped after that. So, then I did all my chores every day and got nothing, like no coins.

0:01:51.0 LJJ: Well, you want to know something? That happens in grown-ups too, where all of a sudden you forget to save, right? You’re working, working, working, and you forget to save, so that’s kind of normal. But here’s my question now. So, you were saving all that money up before you got to go to Mexico. And now you’re back, do you like to do chores for money or do you just like to work around the house and help your mom and dad?

0:02:15.9 AL: I just like to work around my house. And also when I was at school today, I took off my watch because there was something under the band, and I forgot it at school.

0:02:27.8 LJJ: Oh! Well, maybe if you bring it back tomorrow, you can start again. How’s that sound? That’s a cool way to learn how to save money is with a watch and some chores. Do you have any idea what you want to be when you grow up?

0:02:40.1 AL: Probably a really good soccer player.

0:02:43.3 LJJ: How much money do you think that a soccer player would make?

0:02:46.4 AL: Probably like $500 every 10 games.

0:02:53.2 LJJ: Oh my goodness, that would be a lot of money, wouldn’t it? Do you know that I have a very dear friend, and I will get his autograph for you, he is a famous soccer player, and he plays down in Orlando. He’s their goalie, and I will find out for you how much money he makes, but I bet it might be over $500 each game. Would you like to meet him some day?

0:03:17.8 AL: Yeah, maybe.

0:03:19.0 LJJ: Yeah, I’ll introduce you. So, I’m going to ask you a couple of questions to find out what your thoughts are about groceries. So, do you go grocery shopping with your mom or your dad?

0:03:28.6 AL: Mm-hmm.

0:03:29.3 LJJ: And what’s your favorite thing to get at the grocery store?

0:03:32.7 AL: Normally when we pass the toys, I always want to look at them and I always go over, and I’m like, “I really want this.” And he’s like, “Maybe another day.” My dad and me always go every Sunday, so we know our way around the store. And when we go to the food aisle, he sometimes gets us stuff. He sometimes gets us candy if we’re doing good. Or when we go through the cold aisle, he gets us like Nesquik chocolate milk for us to drink.

0:04:00.8 LJJ: Oh my, I love chocolate milk. It’s my favorite.

0:04:02.6 AL: When we’re at the deli, if we did good and we haven’t gotten anything, he’ll let us get a donut.

0:04:08.9 LJJ: Get out! How much do you think one of those donuts costs, do you know?

0:04:13.3 AL: Probably like $5 or like 2.

0:04:16.5 LJJ: Yeah, for a donut. Isn’t it interesting how money… You know, you need money to buy the things that you want, and you already are saving money so that you can also buy things. Is that what you’ve been doing?

0:04:28.6 AL: Mm-hmm.

0:04:29.8 LJJ: What are you saving up for?

0:04:31.1 AL: Stuff for when I grow up, so I can get food and then I have to live in like a little house.

0:04:39.5 LJJ: Well, that sounds very smart. I know that you’ve talked about the fact that you want to go to college. What’s your favorite topic in school right now that you like to learn about?

0:04:49.4 AL: Math.

0:04:50.3 LJJ: Oh boy, I’ll tell you, math will take you places. Once you learn math really well, you can do anything, can’t you?

0:04:56.9 AL: Mm-hmm.

0:04:57.5 LJJ: Why do you like math so much, Andrew?

0:05:00.4 AL: because we have these games that are really fun, and then also, I always get… When I have something, I always want to get it done and out of the way. So I do it, but I don’t want to do it, but I have to do it. So I do it as fast as I can. I do them all, so then I don’t have to do anything, so then I can just read and I get all my awards in school.

0:05:24.0 LJJ: Oh my goodness, so you actually, you like math because it sounds like it’s easier for you and then you can take time to read?

0:05:32.0 AL: Yeah.

0:05:33.6 LJJ: That’s really neat. That’s a really great way to learn, isn’t it?

0:05:37.2 AL: Mm-hmm.

0:05:37.4 LJJ: What’s your favorite part of the day at school?

0:05:39.8 AL: Either recess or special.

0:05:43.8 LJJ: Now, what’s special?

0:05:45.4 AL: Music or gym.

0:05:47.9 LJJ: Do you like one of those better or no? Are they both fun?

0:05:50.6 AL: They’re both the same.

0:05:52.3 LJJ: Are they? What are you learning in music right now?

0:05:55.1 AL: Just learning rhythms. My sister, Lindsey, she’s learning how to do the ukulele, and they have to perform for the fourth-graders.

0:06:06.7 LJJ: Ukuleles are not easy to play. They look like they are, but I don’t think they are. How fun is that? Do you want to play it someday, like for real?

0:06:16.3 AL: Not really.

0:06:17.5 LJJ: Well, some people make their living off of that too. So, so far I’ve heard you want to be a soccer player. And you’re saving up, you had said on a commercial that you did for us that you’re saving up for college and a car. What kind of a car would you like?

0:06:31.1 AL: Probably like a kind of truck like my dad has.

0:06:35.7 LJJ: Oh man, how much do you think that costs?

0:06:38.0 AL: Maybe like $5000 or like $100,000, or by there.

0:06:45.0 LJJ: You want to know what, Andrew? I think you’re right. They can cost between $5,000 and $100,000, and that would be a lot of money, but that’s why you’re saving, right?

0:06:58.6 AL: Mm-hmm.

0:07:00.5 LJJ: So, we’re going to wrap this up, but I just kind of want… Do you have any questions that you want to ask me?

0:07:05.0 AL: No.

0:07:05.7 LJJ: Okay, alright, then I have one more question for you. And it’s really important. Are you looking forward to Christmas?

0:07:12.3 AL: Yeah.

0:07:13.1 LJJ: Tell us, do you write a list for Santa or what do you do?

0:07:16.6 AL: I have to  write a list for Santa.

0:07:18.6 LJJ: What are you going to ask for this year?

0:07:20.8 AL: My main thing is another elf. I really want a new iPad that has like a high iOS.

0:07:28.0 LJJ: Do you like to play games or like on computers, or do you like to read or play board games better?

0:07:34.6 AL: I like to play games on computers more.

0:07:38.3 LJJ: Oh yeah? What’s your favorite game that you’re playing right now on a computer?

0:07:41.8 AL: Probably Minecraft, but I like Clue because it’s a board game.

0:07:46.5 LJJ: That is fun. Now, you play that one as a board game or do you have a computer version one?

0:07:52.1 AL: We normally do it as a family and we have all like the kinds. We have the Simpsons kind, the Clue Master Detective and the normal one.

0:08:04.0 LJJ: Oh, so, I didn’t know that they made different clue boards, that’s neat.

0:08:08.1 AL: So, the Master Detective has three more people and there’s way more weapons and there’s 12 rooms, there’s 10 people.

0:08:17.8 LJJ: Boy, I would get so confused, but it’s such a fun game, isn’t it?

0:08:21.1 AL: Mm-hmm.

0:08:21.8 LJJ: Do you like playing games around with your family more than you do just looking at a screen and playing on a computer?

0:08:29.4 AL: Yeah.

0:08:29.4 LJJ: It is more fun, isn’t it? Hey, so tell us… I’m going to ask you a couple more questions and then we’ll wrap up. I know that you have a cat named Hazel, does Hazel… We’re talking about money today, so when you grow up, and you said already that you’re going to want to buy a house, do you think you’re going to want to have a pet?

0:08:50.0 AL: Mm-hmm. I really want a dog.

0:08:52.2 LJJ: Oh yeah. Do you think they’re kind of expensive?

0:08:55.2 AL: Our grandma said her new puppy was so much. She said, “If you break her or something, I don’t even want to tell you how much money you’re going to have to spend.”

0:09:09.8 LJJ: Oh boy, that means you do need to save, doesn’t it?

0:09:12.8 AL: Mm-hmm.

0:09:13.9 LJJ: But it’s true, dogs and… All pets can be pretty expensive if… They might get sick, plus the dog food, the cat food.

0:09:23.1 AL: Hazel was free.

0:09:24.6 LJJ: She was?

0:09:26.1 AL: Yeah, so there was like a house on a road called Hazel. I forgot the other stuff. A cat had three other… Four kittens, and they were selling them because they had too much. So, when we got her, she was about as big as like probably like a hand. And she came in a little blanket wrapped up and her eyes were hardly even open, and the dad cat was walking around.

0:10:00.3 LJJ: Oh my goodness. A tiny little kitten. So, tell me this, you got to pick out, Hazel? You got to help pick her out?

0:10:07.6 AL: We were going to go to this place. But then my mom saw this on Facebook and then we just came and got her.

0:10:16.2 LJJ: She is absolutely beautiful, isn’t she?

0:10:19.1 AL: She has a pink paw.

0:10:20.6 LJJ: She does. Let me see. Oh, she does. I love that. She’s a beautiful cat. Tell me, if you could tell your mom and dad anything about money that you think that they need to learn. Or me, “Hey, Miss. Lynne, I want you to learn about money because it’s important.” What would you tell me? Why is money important?

0:10:45.6 AL: Because if you didn’t have money, you wouldn’t live very long.

0:10:50.2 LJJ: You wouldn’t?

0:10:51.3 AL: No, because you won’t be able to eat anything or drink anything unless someone very nice gave you some money or gave you food and water, and then you could probably live like another year.

0:11:07.1 LJJ: Well, that would be a wonderful thing, wouldn’t it? Well, I’m really proud that you are learning how to save your money so well. And I know that everybody listening, we can learn a lot from you, Andrew, so thank you. Bye, Hazel.

0:11:22.1 AL: Bye.

0:11:23.6 LJJ: That is Andrew. For those listening, you can’t see, but his beautiful cat Hazel has joined us. And I’ll tell you what, those are words to live by: Make sure that you save so that you can build the dreams that you’re looking for. Andrew is going to be a soccer player nationally, and he’s going to get his own house, so we love it. Wants a truck like his dad’s. Hey, thanks so much for joining us today. Money, I’m Home. I’m Lynne Jarman-Johnson. Thank you, Andrew, for your just wonderful experience today. It was great to talk with you, and I’d like to thank Jake Esselink for his production skills. I hope everyone has a wonderful holiday season. Merry Christmas and Santa says, “Keep saving.”