If you’ve been thinking about kids and chores and allowance and you are ready to start teaching your kids the value of work and the value of money – now’s a good time to gift them with a way to save what they’ve earned.
This can be accomplished a few different ways, but with younger kids especially, nothing is quite as exciting as stuffing coins and bills into a good old fashioned piggy bank.
Our kids have a combination of approaches. Weekly allowance is deposited into a bank account for each of them where they can save money or request to spend money, or, depending on the age of the child, have full access.
Jobs that are paid for on an individual basis are paid in cash or coins that each child can place in the savings container of his or her choice. This money can be pulled out on a whim to use in a local vending machine or spent at the dollar store or Wal-Mart.
When it is time to get your child a piggy bank, you should consider the age of the child and the accessibility of the money. Nothing is as frustrating as a piggy bank that cannot be opened without being broken. Especially if the piggy bank is a well loved pet. So look for a piggy bank that serves your purpose.
If your child wants to go to The Dollar Store too, you need one that can be opened and closed. But if you want your child to save up for a while, find a sealed bank and make sure they know it has to be broken when the saving is done.
Young children are prone to break things made of glass, so avoid ceramic banks for little ones unless you plan to put it up on a shelf and never give them access. At least with my kids, that has not been a very popular choice!
Piggy Banks to choose from
- Pearhead Ceramic Piggy Bank
- Cartoon Electronic Password Piggy Bank
- These beautiful ceramic piggies in a nice selection of colors.
- Windy City Novelties Educational Kids Clear Piggy Bank
- Digital Coin Bank Savings Jar
- Digital Counting Coin Bank
- This adorable Kids Treasure Box – save like a pirate!
- Moonjar Classic Moneybox: Save, Spend, Share
- Smart Piggy Trio Bank: 3-in-1 Money-wise Educational Piggy Bank
- Fisher-Price Laugh & Learn Smart Stages Piggy Bank
- Safe Money Box Wooden Piggy Bank
- Custom Mason Jar Piggy Banks
- Owl Shaped Metal Coin Bank
- Large Bottle Bank
- My Personal ATM Money / Coin Bank Machine
- Safe Piggy Bank With Lock
- Personalized Porcelain Pink Piggy Bank
- A cool personalized money box
- These adorable Piggy Banks
Books and tools to teach kids about saving money
- Curious George Saves His Pennies (book about saving)
- The Berenstain Bears’ Dollars and Sense
- The Kids’ Money Book: Earning, Saving, Spending, Investing, Donating
- The Everything Kids’ Money Book: Earn it, save it, and watch it grow!
- What All Kids (and adults too) Should Know About . . . Savings and Investing
- Make Your Kid A Money Genius (Even If You’re Not): A Parents’ Guide for Kids 3 to 23