NORWALK, Iowa -- Between taxes, 401k, mortgages and savings accounts; figuring out your finances is never easy. Thankfully in Norwalk there's a fifth grader to turn too.
On Wednesday, Caleb Kitterman installed his second gumball machine at a local business. The 10 – year – old’s love for the machines began a couple of years ago after his dad wanted to teach him about finances.
“I just knew that I wanted him to learn about money in a different way,”says Kitterman’s dad, Darron.
Instead of a weekly allowance, Kitterman was taught how to earn his own money. At the age of four, he took out a forty dollar loan to buy a gumball machine and gumballs. He began using the money earned from the machine to pay off the loan.
As a result, the father - son duo wrote a book together about the importance of assets, savings and investments.
“I really want kids to start learning about money at a really young age,” says Kitterman. “If I learn more about money, I’ll know what to use it for.”
Kitterman launched a crowd – funding page in hopes of getting his book published. He has already raised about a third of the cost. To donate to his book click here.
Once the book is published, the family plans to distribute it to public and elementary school libraries across the state.