Teach Your Kids How To Save With The Best Share Save Spend Piggy Bank

Posted by morite janson on March 30th, 2017

There is no such thing as being too young to understand finance as the benefits of starting a habit early are plenty. When kids learn to save a little every day, the habit tends to stay with them for longer.

The best share save spend piggy bank is a great tool to teach kids the importance of saving. Ideally, there should be two main rules to follow. First, to encourage the kids to pay themselves for their daily purchases at school and second, to save a little more each day. Money management can be easily taught to them at a tender age especially when you can make it rewarding. This is the main reason why you should find save spend share piggy bank. These piggy banks have a unique three in one feature. If you have bought a good one for your kids, this very feature allows them to allot their savings into three separate compartments that are dedicated to exclusive saving and sharing or spending. In other words, it also nurtures the organizational skills of the kids.

The whole point of a three in one piggy bank is that it also teaches the kids to be generous from an early age. They need to decide what they plan to do with the money they earn or are gifted every time. A certain portion should be dedicated to keeping aside for the future while another portion could be saved up for giving away to the needy or buying something for someone else. The third compartment of spending could be all about planning to buy something that is on their wishlist. Dividing their accumulated little income into these main sections encourages them to retain this habit till later in their lives. And there have been numerous studies to prove that kids who inculcate such habits tend to be better at their finances as grown ups.

The saving, spending and sharing ideas that you hint at or they come up with, could differ among age groups because of differing wishes, needs and thought processes. So, the way you approach them with the idea should also depend on their age, understanding, preferences and nature in general. This is important to make sure that they take interest in it and are happy about owning or being presented with a save spend share piggy bank.

Author’s bio: The author is a blogger. This article is about the best share save spend piggy bank.