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Friday, October 4, 2013

KIDS- Piggy Banks- Save/Give/Spend


I am a little bit obsessed with managing money and budgeting. I love that my daughter is getting old enough to start learning these concepts. We follow Dave Ramsey's financial advice and earlier this year we were able to pay off all of our student loans and officially be completely DEBT FREE! I am hoping to instill great money habits into my kids and make it fun to give, save, and spend! 




 My 3 year old loves to put money in her piggy banks and knows what each one is saving toward. She has her "first piggy bank" from Great Grandma that is used for spending money.  If she wants something at the store, or wants to ride on a quarter activated ride at the grocery store, it comes out of this one.
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She has a big one for savings which goes into an online account for a future purpose (not sure what it will be used for yet. Maybe college or a first car). Maybe we will eventually try to invest it if it grows enough.



My best friend is a missionary in the Philippines and pastors a little church with her husband. They have a feeding program for local kids, so when my daughter puts money in that one she says it's for Tina to feed the hungry kids. 
My brother and his wife are also missionaries in the Middle East. We save some to help support them also. She loves putting money in their bank too. We keep their pictures by the banks to remind us.  


We also have one to bring to church to give to God. We put 10% of what she gets into that one. She sometimes puts extra in too.



Her little brother has a bank too, so sometimes she puts money in his! She is either very generous, or has no idea about the value of money yet. I'll stick to the generous theory. 



We had a great time emptying all of her piggy banks and bringing them to the big bank to cash them all in! She was so excited! I made the mistake of doing it on a weekend, so we had to wait a couple days before the bank was open. 












Order Dave and Rachel's new book Smart Money Smart Kids below! (Or just visit the link to read the first 2 chapters for free!)




Smart Money Smart Kids by Dave Ramsey & Rachel Cruze

10 comments:

  1. Such beautiful piggy banks. Lovely idea for teaching kids not only to save, but to share as well. :)

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    1. Thank you very much! I REALLY like piggy banks. :-) Thanks for reading!

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  2. Great idea to help kids learn to save money!

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    1. Thank you and thanks for stopping by!

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  3. Your daughter sounds lovely! I have a four year old but he only has one piggy bank. Great idea to have different ones for different things. I think I'll get a couple more.
    Thanks for sharing!

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    1. It's fun to have a few,and it will be a great teaching tool for doing math in the coming years deciding how much goes where!

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  4. Student loans can be one of the largest debts that people have today. So it is important to our money habits includes a debt pay-off plan. Congratulations on being debt-free and kudos for teaching your daughter these skills early on!

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  5. Great ideas! We are trying to work on this with our kids too.

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