If there was a bank owned and operated by doting moms, it would lend cash with zero interest terms and creative investment strategies: ‘We’re feeling bullish on dinners out this week.’
However, financial experts say we do our kids a great disservice by not teaching them about saving versus spending as early in life as possible.
So now, from inventive piggy banks to new allowance strategies and engaging online options, there are a variety of ways to teach our kids how to respect money and spend—or save—wisely.
This little piggy went to market…but did he (or she) budget wisely for the weeks worth of groceries? Even a swine can teach us all a thing or two about smart financial planning. Created by a Canadian mom entrepreneur, Four Piggies is an award-winning product that teaches kids about money and financial values.
Each set comes with four multi-coloured piggy banks that encourage kids to put a portion of money aside in each one labelled—Saving, Spending, Sharing and Schooling. An accompanying book tells the story of one little boy and how he learns basic financial concepts as he contributes to each of the four categories. Four Piggies offers a great opportunity for kids to learn practically about resisting instant gratification, giving back to others and saving for the future, in a way that even a 3 or 4 year old can begin to understand.