I was looking for one of a kind unique banks kids can learn from to teach my kid how to better manage his money. He might still be in elementary school but teaching young children money management would come in so handy as they grow up and build an empire of their own. Fortunately, I found the Money Savvy Football bank that proved to not only be useful but extremely fun for my kid as well! We have had this for only 6 months but WOW WHAT AN IMPACT!
What's On This Page?
- 1 THE BEST And Most Unique Coin Banks Kids Can Find
- 2 Teaching Young Children Money Matters with the Football Bank
- 3 How We Used The Best Kids Money Banks
- 4 Use These Kids Money Banks To Teach Kids Investment
- 5 The Moment I Knew These Were the Best Money Banks For Kids
- 6 Money Savvy Football Banks Are Unique Banks Kids Would Love
THE BEST And Most Unique Coin Banks Kids Can Find
The Money Savvy Banks are definitely one of the most unique coin banks kids can benefit from just because it doesn’t have your standard one slot that regular piggy banks have. The Money Savvy Football bank came with 4 Slots, where kids split up their money and decide how much they want to save, spend, invest, and donate.
This was the thing I loved about these kids money banks. They show a child the benefits of money management techniques where they don’t simply save every dime and splurge them all one fine day. That kind of a savings plan is what leads us to debts and huge credit card bills – something we probably do not want to pass on to our children.
Teaching Young Children Money Matters with the Football Bank
When I first got one of these children money banks for my child, it was well received. Obviously, its football shape had a lot to do with that. The first thing we did was to sit down and talk about the different slots. The stickers and handy guide that comes along with this football bank certainly made that easier.
How We Used The Best Kids Money Banks
The concept of needing to do more than save definitely seems weird to him at first, but as we talked, it made more sense. I took this time to explain what goes in each slot. I explained the need to always maintain some savings for that rainy day when you are going to need extra funds to not go broke. You could state examples like sudden car trouble, repair issues around the house, sudden medical issues. Keep the reasons real but don’t scare them off with the turmoil of adulthood.
The most exciting part is telling them that they get to keep money aside to spend on whatever they want! This means he gets to buy any Lego set or whatever is considered appropriate with that money!
Then of course there comes the humility and empathy that comes with learning the need to set money aside to donate to those in need. Depending on the environment our child is growing up in, they might not even see families in need and you might have to talk about how there are families who do not have what we get to take for granted.
Use These Kids Money Banks To Teach Kids Investment
The slot for investment was quite honestly the hardest to explain. WHAT DOES A 9 YEAR OLD INVEST ON? The Investment slot is basically where you set aside funds to grow yourself. It is the amount you invest on yourself. So as a kid, I am sure they are used to you swiping your credit card to get them their school supplies, books and other needs for their personal development
So how do we use their unique coin banks to teach the worth of investment? In our case, we decided to take it as any material used to learn new skills would be considered an investment. He got it over time…
In the beginning, he would not put too much money into that invest section, but it did add up and at the school book fair, he had his first light bulb moment –an idea for his first investment. He went ahead and bought his first book on coding for kids – something that has interested him in a long time! See! Kids do get it! You just have to give them time!
Teaching young children money issues is critical in this day and time where the global market is changing so quickly. They watch us swipe our card wherever we go. They rarely see money in its form and feel the impact of it leaving your hands – something we probably saw when we were kids.
With raising expenses and huge shopping bills that seems to follow us each time we leave the house, we need to show them how they can manage their money better and not fall into bad money situations. We can give them a head start at better financially literacy with unique banks kids would enjoy like this Money Savvy Football Bank.
The Moment I Knew These Were the Best Money Banks For Kids
The progress I saw with unique banks kid love like the Money Savvy Football Bank was when Grandpa gave him a $50 for his birthday and he came up to us to break it into change. He wanted to split his birthday gift money for the 4 slots!! Oh I wish you could have seen the pride in my eyes! He finally understood the equal importance of setting aside to save, spend, invest, and donate! Teaching young children money issues is possible and would be a success if you gave it time! The Money Savvy Bank is a great tool to use when you are teaching young children money issues that matter. The best thing about these Money Savvy banks are that you don’t have to get the football! You need to choose the unique coin banks kids will find exciting! Take a look below to see which Money Savvy children money banks would be perfect for you.
Money Savvy Football Banks Are Unique Banks Kids Would Love
I am sure you can see how my kid and I loved out Money Savvy Football bank and found it to be one of the best tool that I used to teach my kid the virtue of money and the importance of good money management skills. I am sure that you would love your experience and the learning journey these unique banks kids would gain so much from.