What would you do with a marshmallow? It’s a question that Stanford University posed to elementary students in the late 60s and early 70s as part of an experiment on delayed gratification. In the study, each student was given one marshmallow along with a promise: if they could wait 15 minutes, they would get an additional marshmallow, thereby doubling their return on investment. One third of the students waited to receive an additional marshmallow, while the remainder succumbed to the immediate desire to eat the single one.
The experiment didn’t stop there.
Researchers followed the children for subsequent years and found that those who delayed instant gratification performed better in academics and other life benchmarks than those who didn’t.
This concept of teaching kids about delaying instant gratification to experience greater rewards in life is what Max McNickel, the trusted mascot behind Avidia’s Adventure Savings Account is all about. With his Adventure Savings Account, Max provides a fun and easy way to help kids – ages 3 to 13 – to develop good saving and money management habits while they’re young. In addition to participating in fun Adventure Days at Avidia branches, young Adventure Savers will receive prizes when they reach a saving milestone. Those prizes include gift cards for movies, music, online retailers, and other rewards that are even sweeter than…well… marshmallows.
Learn more about how you can join Max McNickel and take your kids on their Savings Adventure this summer.