Penny Makes a Savings Goal
Penny has been helping some of her
neighbors with household chores to earn money this summer. Each time she earns money, she puts it in her piggy bank.
Halfway through summer break, Penny felt her piggy bank getting full.
"Wow, I bet I have a good amount of money in here," said Penny as she shook her piggy bank.
"Oh my," said Penny's mom. "You're right Penny, it sounds like your hard work is paying off!"
Now all Penny thought about was what she was going to spend her money on. Shoes, books, a backpack, games, markers — Penny was daydreaming about all the things she could buy.
"You know, you don't have to spend your money right away," said Penny's mom.
"Well why not? It's my money," exclaimed Penny.
Although Penny was right, her mom told her that if she saves her money and makes a savings goal, she'll be able to
buy something even more special in the future. A savings goal means setting aside a certain amount of money to buy
a certain item. If Penny wants to buy a bike that costs $100, she has to save $100 before she can buy it.
As the summer continued, Penny kept earning money — except this time she deposited her money into her Wescom
Savings Account each week so she knew exactly how much money she had and set a savings goal of $100 to buy a new bike to ride to school.
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