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Why is a Personalized Piggy Bank Good for Your Kid?

Most parents are keen to inculcate money saving habits in their kids from very young age. If you are one such parent trying hard to inculcate this habit in your kid, then this blog is going to be extremely helpful for you. Here the discussion is about importance of personalized piggy bank and how they are going to help you in making your kid understand importance of money saving.

It is confirmed that most children place one or the other kind of demand with their parents or kith & kin during growing up years. Most parents bow such pressures and spoil them incandescently. Here little intervention will help, if parents can make kids understand the importance of money and saving it for good purposes.

It may not be easier to inculcate this habit all of a sudden, but parents can always try it step by step. They can start from introducing a kid to the money, from the time they learn to count. One best way to do that is involving them with shopping or other activities, where you require making the cash payment. One of the best ways to do this is buying them toys and paying for it in cash. This will make them understand that one has to pay money for buying anything. You can do it more effectively by allowing kid to make the payment.

After this small introduction, parents can next ask kids to collect the balance payment handed by the salesperson at the desk and save it for some good use like buying toffees or some small gifts for their friends or family. This saving habit can be inspired by buying them a piggy bank that suits their interest. Although kids may not budge in the beginning, still you can get them personalized with some symbols or even buy them in some interesting colors to trigger their interest.

Kids always learn something when they see concrete results before them. So, you can tell them that by putting all extra money into a piggy bank and the pig will grow “bigger” and their savings would swell, too. It can be conveyed to them that if they manage small money efficiently, then they can handle larger amounts, when they grow up.

Today, you can choose from different models of piggy banks, which serves the purpose of tutoring kids the importance of money saving. For instance, you can go for the one with four compartments labeled Spend, Donate, Invest and Save. This labeling helps kids to understand how they can deal with their money. If kids want to save money for some future purchase, then they can add it to the spend compartment. Similarly, if they want to donate some amount of savings to some charity or program, they can add it to donate or if they wish to buy something immediately then they put amount into invest or spend. This way, a personalized gifts like piggy bank can make your kid understand the importance of money.

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