Our Children money banks today can’t just have one slot like it used to. The world has changed and so has the way we teach our children to save for the future. These 4 slot banking money banks for kids are certainly the best way to teach financial literacy for kids to understand. There is more to a piggy bank than just saving it and splurging it all out at once. The children of today’s world has to be smarter than that.
Best Children Money Banks Teach Them to Save, Spend, Give, and Invest!!
These 4 slot money banks kids use will certainly help them cultivate this good habit from the beginning. Habits such as better money management come easier if children learn them from a young age. They would certainly thank you for teaching them this important life skill when they are financially independent as an adult in the future. Find out more about how these unique coin banks can help your children get a secure financial state in future.
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Why Are These Unique Coin Banks?
These children money banks are certainly one of a kind. For starters, they have not one but 4 slots. This 4 slot banking system separates the money that your child is about to add to their money banks for kids into 4 parts – SAVE, SPEND, INVEST, and DONATE.
These money banks children would benefit from teaches them the need for good money management skills. Give them an early start to make sure kids learn the value of money, the importance of good money management as well as the need to use money responsibly.
We Love the Money Savvy Football Bank for Kids
I recently bought the Money Savvy Football Bank for my kid and we both LOVE IT! It took just a few minutes to get him excited about saving his money for so many useful purposes. We spent some time trying to understand the importance of each function the four slots are kept aside for.
While it was easy to understand saving and donating, he did get surprised that we were setting aside money to spend. ” Wasn’t the whole point of a kids savings bank to NOT spend the money?”, he wondered.
This worked out as a great opportunity to teach him that keeping aside a portion of the money to spend on yourself as a reward for saving the rest is just as important as saving.
We then talked about how constantly saving without enjoying life and then COMPLETELY spending all that we saved isn’t ideal for today’s world anymore. It made sense to him.
As a nine year old, he might not fully get the idea of investing. The common questions you would get from a kid his age are “What would I invest on at this age?”, “I don’t get it?”, or “What do we get by investing?”.
For parents, there are 2 options. You could either just have them put some money aside to invest and wait till they actual understand the concept. Or you could give them ideas to invest in. For instance, a new after school class that brings them added skills can be a good investment.
Either way, be assured that it is a work in progress and just work on their pace. They might not get the concept right away – but it is important that parents teaching kids money issues add this to their lesson plan as well. After all, they are going to need to know the need to invest in themselves and progress to keep up with the changing world.
Get the Perfect Children Money Bank To Help Them
We live in an entirely different world that is evolving all the time. It is no longer stable – or at least as stable as it seemed to have been. What can we do to help our children thrive in this ever changing world?
How can we keep them equipped to face it and handle it no matter what? One simple way is to teach sound financial literacy for kids of today’s world. Teach them that there is more to a piggy bank than merely saving.
In today’s world, investing on yourself is a great way to reap more benefits through time. You invest on yourself to develop your skills, knowledge, and resources and watch it thrive for you in future. While saving is vital, spending a good amount on yourself is important as well. You need to live today well too, am I right?
Keeping some money aside to spend wisely helps kids manage their money better than they would if they just saved it and splurged at one spot. Keeping aside some spending money acts as a reward for the hard work they are putting in to make that savings and adding on to the spending money in the first place.
This reward in return would help them save more and increase the balances on all parts of their 4 slot children money banks. All these qualities and more can be taught so easily to your child with these money banks for kids can use from any age to learn better financial literacy.
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Finally, they learn the need to constantly give. Kids may or may not get the opportunity to see the less fortunate in their daily lives. As parents who aim to raise compassionate kids who care about more than just themselves, kids need to be reminded again and again the importance of giving to the needy.
They should feel the happiness and satisfaction that comes from being able to provide for someone else. Keeping some money aside constantly to give is a good practice that would help kids be ready to give when the right opportunity strikes. It also builds in them some great character along with sound financial literacy. How else could you better prepare them for the world?
Why Teaching Financial Literacy to Kids is Important?
As an adult, I noticed that the world we grew up in as a child is completely different from the world our children are being raised in. When I was a kid, money was coins, notes, and checks primarily. We felt each cent that left our hands and each dollar that made it to our savings account.
With our kids its more credit cards and online purchases where they do not see the money that is being spent. A purchase is something as simple as a click on the computer or phone these days. Do kids really see the worth of hard earned money? The way we saw it growing up? Some do – but there are some who probably do not.
Therefore, it is vital that parents take the time and teach their children the virtue of money and good money management skills.
Teach them the need to save for the future while investing in themselves. Tell them not to forget to enjoy the present as well by spending wisely. At the same time, teach kids the virtue of giving to the needy. While they learn financial literacy for kids, they can also learn to be compassionate and loving.
Don’t you think that these children money banks are the easiest and best way to help cultivate these vital qualities in a young child? These unique coin banks sure make it a lot easier for kids to learn the need to save, spend, invest, and donate for a better future.
Found the Perfect Children Money Banks?
I can’t think of a better money banks children can use and learn from than these 4 slot children money banks. Apart from making saving money more fun for kids, children do learn a vital lesson on financial literacy for kids in a simple way that would last them a life time.
I truly believe every child out there should have one of these money banks for kids. These clearly would make it easier for parents to teach their children how to become financially better off as they grow up. And it never is too early to start such valuable lessons is it?
This pin has been featured at Pinterest Party to (hopefully) go viral this February 2016! Thanks for sharing and helping kids everywhere benefit from this amazing product.