Personalised Money Box Effective Way to Teach Young Ones to Save Money
Tue, 21 Oct 2014
Money boxes are no doubt very practical gifts for kids. They are great tools for teaching children, as young as they are how to value hard earned money and instilling in them some good money management skills. A money box is a great first step in this process. One of the easiest ways to teach kids how to manage and budget the money that you give them is by setting up a three-money bank system. You can have three money boxes personalised to say that the money they put in them is for spending, saving, and for giving away to charity. This kind of budgeting system not only teaches them to save, but also to share what they have, without necessarily depriving themselves of some money to spend on their own. The best thing about this kind of money management is that your kid gets to decide how much of their allowance to dedicate to each money box.
Personalised money boxes are also great tools for teaching children how to set goals for themselves, especially when they have something that they want to buy. While we all want to give our children everything that they want, doing so will make them overly dependent. Teaching them to save up for something that they want to buy for themselves is way better than showering them with all the gifts and the comforts they want in a whim. You may also help them along the way by implementing a pound for pound system, where you match what they save to help them reach their goal amount. This will teach them how to be self-reliant, and encourage them to achieve things on their own, while also teaching them the value of money.
Find amazing money box for your little ones here.
