As a parent, one of the things you’d like to teach your kids is good money skills. The standard piggy bank used to be good enough. You encourage your child to put any extra money in there to save for an item they want. Nowadays, though, saving isn’t the only thing you need to teach your child about money. You’d also like them to know about investing for the future. Donating to a special cause is also a great way to teach your child social responsibility. And of course, every child wants a bit of money that they can spend immediately. Take a look at the Money Savvy Generation. There are numerous money management tools on their site that makes teaching kids about their money a fun activity that they’ll love.
One of their award-winning items is the Money Savvy Pig. It appears to be your average piggy bank, except that its divided into 4 sections. Each section is labeled. One is Save, another is Spend, another is Donate and the last one is Invest. Each section has a separate slot for your child to put money into and that money can be taken out by section, as well. Each section also comes with stickers so that your child can choose an item they are putting aside the money for. For instance, there’s a sticker for a fish. If your child has been begging for a fish, they can put that sticker on the Save section as a visual reminder of what they are saving for. You can teach your child to take a part of their allowance and place it into the Spend section for items that they want that cost a bit less, like Silly Bandz. For Donate, help your child choose a charity that means something to them at www.give.org.
The Money Savvy Pig is a great way to open up a conversation with your child about how to make their money stretch and budget appropriately, in a choice-driven environment. And if your kid’s not into pigs, there are other animals, as well.