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Six “Piggy” Banks That Can Help Teach Kids Money Management Skills

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It’s already November. I am still amazed how quickly summer whizzed by and how quickly fall is coming to an end. Christmas is just around the corner (yikes!). Last night my husband and I were talking about what we should get our son for Christmas. He has told us a gazillion things he wants, but of course I’m on the lookout for ones that can be fun and teach him a little bit about personal finance and money management.

He already has a piggy bank designed to do that, so I need to find something else for this holiday season. I know some of you thought his piggy bank was pretty neat so I went searching for “piggy” banks that are similar in nature. Here are the ones I found, from least expensive to most expensive. Note: Prices are of time of publication – please check to see if the price has changed.

My Giving Bank – This bank has three compartments – Save, Spend and Give (centered towards tithing). The compartments are three buildings: Bank, Store and Church. Blue transparent plastic.

Money Savvy Pig – Blue – This is the one that my son has. It has four compartments – Save, Spend, Invest and Donate and kids decide where their money goes. Blue, Pink, Red or Green colors available. Plastic.

Money Savvy Cow – The cow is made by the same folks who developed the Pig. It also has four compartments – Save, Spend, Invest and Donate and kids decide where their money goes. Clear see-thru plastic with black spots. Plastic.

LearningCents Bank – This larger bank has plenty of opportunity to personalize with stickers and the lids have a dry erase surface for keeping track of the amounts in each compartment. There are three compartments – Save, Spend and Give (or you can get one with Tzedakah instead of Give). Pink or blue colors available. Plastic. Price: $21.99 + shipping & handling. Note: This one is out of stock at the moment

Moonjar Classic Moneybox – This hexagon-shaped bank has three compartments – Save, Spend and Donate. It even comes with a little passbook to track the money deposited into each compartment. Tin with acrylic lids. Price: $24.95 + shipping & handling.

Money Momma Piggy Bank – This piggy bank works to teach kids money management by applying the 10/10/10/70 concept to their money. Every dollar is split: 10% to charity, 10% to investing, 10% to saving and 70% for everyday expenses. Ceramic. Price: $29.95 + shipping & handling.

Now, you don’t have to go out and buy one of the above to help teach your child about money management. With a little bit of time and creativity, you and your child can make banks in the compartment-style spirit. Here are some more kid banks that teach about money and TheMint.org has some suggestions on how to make these banks for very little cost using things around your home. They also offer suggestions on how to talk to your child about spending, saving, donating and investing.

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13 Comments

  • Reply wealthy_1 |

    When my children were younger, I would tell them they could make a list of 5 things that they wanted for Christmas and then rank them in order of how much they wanted each item. I told them I would give the list to Santa and he would do his best to bring them as many of them 5 things as he could. Usually Santa would bring 1 to 3 items. Every year my son would ask for his list back over and over so he could revise it.

    I think I need to make one of those banks for myself!

  • Reply Kelly |

    These are so cute. What a great post! My 4 year old absolutely loves change. He is starting to count the pennies, but he still needs more pratice.

  • Reply Elisa |

    I like the first variant and think that you have just given me the idea of my gift to my nephew. Such kind of gift can be really useful and fun to present.

  • Reply Andrew |

    I have a cool piggy bank that you might enjoy. I created an online virtual piggy bank to help teach my kids about money, and they love it! It was a real blessing for me as well because I no longer had to worry about remembering to give allowances or having the correct change on allowance day. The virtual piggy banks are really cool because they have advanced features like real online bank accounts do. Please stop by sometime at http://www.littlemoneybags.com/piggybanks/background.php

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