Every time a child goes to their parents for help, it has something to do with money. Kids tend to get their allowances from their parents when they are doing chores for them or when they are on their best behavior, but what happens when the allowance runs out and the child doesn't have any money to put into their savings?
That's the time when you bring in a young financial expert to the forefront to talk about ways to maintain economic responsibility.
Ava Kofke was nine years old when she wrote her latest children's book titled 'The Financial Angel: What All Kids Should Know About Money.' The concept behind her book focuses on instructing kids, ages four to 11, on how to manage and save money while they are young.
Ava, who also goes by the "Financial Angel" in the book, tells readers the importance of budgeting and money management through several key components, including saving, spending, giving, debit cards and credit cards.
Kofke said in an interview on "A Closer Look," that she strongly encourages young people to rethink their spending habits and to invest money into long term necessities.
"You just have to think about how much you want it and how much you actually going to use it. Because if it's something that is gone real quick, like candy or a treat or a snack, you might want to save up for something that you can have for a really long time." Kofke said.
Kofke discussed her latest work, shares her own backstory on why she wrote the book for her age group to practice financial literacy and more on "A Closer Look."