Fifth grader Caleb Kitterman from Norwalk, Iowa, has been learning about finances from a young age- and in a very interesting way. Rather than having a weekly allowance, Kitterman earns his own money from a gumball machine he purchased with a $40 loan.
“I just knew that I wanted him to learn about money in a different way,” said Kitterman’s dad, Daron in a report with WHOtv.
Kitterman has not only used the money earned from the gumball machine to pay off the loan, but also to save. He has gained both a profit and financial knowledge that will help him in the future.
From this experience Kitterman has learned a great deal and hopes to share his knowledge with others his age. With the help of his dad, he wrote and illustrated the book “Caleb’s Gumball Machine,” which will be published this December.
Once the book is published, the Kitterman’s hope to distribute copies to elementary school libraries across Iowa.
Click here to read more about “Caleb’s Gumball Machine.”