This month we’ve got a very special guest post by eleven year old PennyOwl user, Lilly McCaul.

11 year old Lilly with the PennyOwl AppHi, My name is Lilly and I’m eleven years old. A few of my favourite things are soccer, Ben & Jerry’s (caramel chew chew) and the Decendants!

I’ve been using the PennyOwl App for over a year to keep track of my allowance and save money and I really like it because:

  • I LOVE money, and the App helps me to save for cool things instead of spending all my allowance on things at the $ store.
  • It keeps my money safe (especially from my brother and sister); and
  • It teaches me some really cool facts about money (last week I learned that there is a bank in Italy that only has cheese in its vaults – very weird but cool!)

I started learning about money when I was 7 because my mom gave me three jars labelled ‘spend’, ‘save’ and ‘give’. If I wanted to buy candy at the store, I’d take a couple of dollars from my ‘spend’ jar. If I wanted to buy myself a pair of roller skates and didn’t have enough money, I’d try to earn extra money and put it into the ‘savings’ jar until I had enough. And every Christmas I’d empty the ‘give’ jar and give it to a charity that was doing something nice for other people.

Now, I get a weekly allowance of $10 through the PennyOwl App and I earn extra money by doing chores for my grandparents and parents. Some of the best ways I’ve found to earn extra money are:

  • picking stones for my granddad;
  • Selling lemonade when the weather is good;
  • unloading the dryer for my mom; and
  • keeping the bird feeders topped up for my gran.

Using the App has taught me how to balance my money which I think is a really good thing. Before I started using PennyOwl I spent money on things I didn’t need. I realised quickly that I didn’t like not having any money, so then I started saving and refused to spend anything! Now, thanks to PennyOwl, I can see exactly what I can spend and what I’m saving and that makes me feel good.

For me, saving is really important because I love soccer and if you like soccer too, then you know how easy it is to loose stuff! My mom and dad got so fed up with buying me new sports gear that they now make me replace anything I loose! I wouldn’t be able to do that if I didn’t have my own money.

So what have I learned so far about money?

  • It gives you responsibility;
  • It gives you choices (and I like choices!);
  • It makes you feel good; and
  • It helps your life.

I hope you liked my first blog!

Thanks for reading,


PennyOwl: Helping Parents Raise Money-Smart Kids

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