Piggybanks Are Back, Baby!
Searches for ‘ceramic piggy bank,’ ‘aesthetic piggy bank’ and ‘piggy bank design’ are on the rise, with Pinterest Predicts saying that soon, it will be all about making your money a little cuter. Yup, it seems that piggy banks are back, and with that a whole lot of stickers. “Big money, bigger personality,” according to Pinterest’s 2024 money-themed predictions. We’re definitely here for the piggy bank (or the teddy bank, which also saw a 75% rise in searches), and very keen on teaching the littles about saving.
Tips to teach your kids to save
Since saving is such a difficult task even for us as adults, perhaps starting early with the young ones will get them to grasp it quicker. While there are many tips and tricks out there to assist you in teaching your child about saving, there are a few ones we thought we’d highlight:
Needs and Wants
Kids need to understand the difference between what they need and what they want. This will guide them as to whether they need to spend their money or whether they can save it.
Open a savings account (or get a piggy bank)
For the little ones, a piggy bank would do the trick in showing them how their ‘bank account’ grows when they save. The same goes for kids in school, for whom you can open a savings account and spend time explaining the growth to them on a weekly or monthly basis.
Pocket money
Let your kids learn to work with money by giving them pocket money. This way, they will learn that when they spend everything, there will be no savings to build on.
Goals for gold
Help your child to set a savings goal. Whether it’s for the next best LEGO set or a fun experience, help them learn to save.
Talk about money
Many older generations rarely spoke about money in the house. Let the piggy bank’s return be a sign for you to be open and real about money with your kids.
Lead by example
Kids do what their parents do. If you want you kids to save their money, you need to show them that you can do it too.
