Thanks for voting!Is there a piggybank (or wallet or empty pickle jar) somewhere in your kid’s bedroom? Instead of letting it collect dust, encourage action. Pennies, dimes, dollars – any contribution can turn into a moment of pride and accomplishment for your growing Saver. We’ve thought of 5 things you can do to make your kid’s piggybank exciting (and more rewarding). Why just 5? We want to save some room for your ideas.
Seeing is believing. A clear plastic or glass piggybank doesn’t leave children guessing how much they’ve actually saved.
Let them pay for it. Occasionally hand your little one the cash when paying at the register. Trust us, they’ll like handling money. We all do.
Visualize it. Hang a picture of something your child wants next to their piggybank. It’ll remind them of their savings goal.
Split the cost. For purchases you’re on the fence about, agree to pay for half if they save up the other half.
Loose Change. Let your children keep the small change that has accumulated at home. When it comes time to cash them in for dollars, make them work for it. Have them wrap the coins themselves.
So there’s a start. See if it works for your kids. If it doesn’t, tell us why. With kids, the key to anything is making it fun. You’re up now.
Tags: Allowance, Kids, Piggybank, Top 5 List
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I’m 22, but I got an electronic counting money jar - which is perfect for helping me save. The jar keeps a count of how much money is in it - so taking money out means the count will be off. Therefore, keeping an accurate count becomes an incentive to keep saving until the jar is full.
It’s perfect for me - even at 22!
My 6-year-old is learning to recognize coins in Kindergarden; they are also studying basic addition. At dinner, I empty out the change from my pocket and tell him he can have it if he can correctly tell me how much it’s worth.
Of course, at first I had to make sure the change was simple enough to match his skill level (at first, just pennies; then just a nickle, then a nickle with a couple of pennies, and so forth). Eventually he has worked his way up to larger and more complex amounts. He doesn’t always get it right (which keeps him on his toes) and I do NOT give it to him unless he’s right, but when he IS right I praise him accordingly.
Order one up. If your child doesn’t have a piggy bank, the “Money Mama” piggy bank at http://www.prosperity4kids.com/moneymamabookpiggy.shtml helps your child learn about spending wisely/investing/donating/saving in a format that makes them divide their coins 70/10/10/10. Plus, when you buy the “Money Mama” you get a bonus toward opening an ING DIRECT savings account. Great deal!