4 Ways to Help Your Kids Save Money
The Piggy Bank, a genius idea. But are your kids using them correctly.
I think I had a "Dog Bank" not a "Piggy Bank" but same concept. Through your allowance and spare change in, and hopefully one day you'll be loaded.
I was never great at saving. I'd want baseball cards, comics, candy, albums, something..right away! I am a lot better now thankfully, but I still get sucked into album spending a lot.
Here are some ideas to help the kids have a plan with the Piggy Banks, yes banks...you will need four.
According to Wiki How here are 4 Ways for Kids to Save Money:
Get 4 Jars - Money management
Label the 4 Jars - Save. Spend. Give. Grow.
Decorate the Jars - One has a bike on it for example.
Use the 4 Jars to Decide how to Spend the Money - Each time the kid gets money, divide it.
Then if you win from the Cash Cow, you can split up your $1000 into the 4 jars. Or keep it for yourself.