Monday, November 29, 2010

Teaching money smarts to your kids, your never to young to start!

I have been researching gifts this year and one has come across my desk that is really interesting. The kit is based upon the children’s book. “The Four Little Pigs”.

The kit contains a copy of the book and four separate piggy banks each with a different name (spending, sharing, saving, schooling). Any money your child/grandchild receives is divided into the four banks.

“Spending” piggy bank is money that is put aside for “pocket money” to make small purchases like candy, stickers or baseball cards.

“Sharing” piggy bank is for donations that are both gifts and giving back to others. These can be large or small donations, but teaches the value of giving an hand up to others in need.

“Saving” piggy bank saves for more costly purchases. Saving teaches your little ones that they do not always getting what they want right away. It teaches them the value of delayed gratitude and working towards a goal.

“Schooling” piggy bank helps start the process of saving for post secondary education. Actively involving your children helps them understand the value of an education and promotes hardwork in school. Currently, a year of post secondary school is approximately $9,000 dollars, it is never to early to start!

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