Comments on: Save, spend and give jars

By: Christine

Christine — Sun, 27 Apr 2008 03:29:17 +0000

I gave each of my kids four pringles canisters. They decorated each one, then labeled them “give, grow, save, spend.” We took a huge rubber band and wrapped it around the four canisters to make “one” piggy bank. Give and spend are self-explanatory. Save goes towards that special “whatever” that they want to save up for. Grow gets invested for their future. Give gets 5% of all incoming money. Grow gets 15%. They can divide up the save and grow however they want, as long as some money goes in each.

By: Amy

Amy — Fri, 09 Feb 2007 20:03:17 +0000

I love this idea! I think if more children were taught this from the beginning, we would have a lot less children in debt when they got older! Great concept- thank you!

By: cw

cw — Tue, 06 Feb 2007 00:04:03 +0000

Great idea. I’ll start it today!

By: Little Legends Blog » Blog Archive » Save, Spend, Give

Little Legends Blog » Blog Archive » Save, Spend, Give — Fri, 02 Feb 2007 17:25:45 +0000

[...] Thanks to Kiddley for pointing out this great photograph by Stephanie that depicts a great way to teach kids about money. [...]

By: Candice

Candice — Fri, 02 Feb 2007 12:12:43 +0000

I also had a little bit of pocket money when I was a kid, and we were also encouraged to save. However my parents went wrong as we were allowed to save our money to buy big ticket items (I remember my sister bought a stereo, I bought a contiki tour of Europe). I wish they had have pointed out that save means save. I wish they’d encouraged us to invest this money when we were older (house deposit, shares etc) rather than spending it.

By: laeroport

laeroport — Wed, 31 Jan 2007 17:45:58 +0000

My daughter started getting an allowance last May when she turned five and we have been doing this – but we put 10% of her allowance for Long Term Savings (college), 10% or more to Short Term Savings (for that toy or whatever she wants), and 10% to charity. It has worked out well for us.

By: Kim

Kim — Wed, 31 Jan 2007 15:24:50 +0000

I have 9 and 10 year old daughters, for the past year we have using Mead Bright Wallets (found at office Max) they get $10 every two weeks and have to choose how to divide up their funds. We use 5 Wallets 1- Savings 2-Charity 3 and 4 a goal set by them to buy and 5- Mad Money. There are 3 rules. 1- At least .50 must go to a charity of their choosing. 2- $2 must go into savings. 3-No more than $5 can be in Mad Money at a time. My girls have really understood what it takes to get what they want. Even money they get for holidays and birthdays get divided in these wallets. Last year they both saved over $200 for a family vacation, donated $50 to a local homeless shelter and $80 to the local no kill animal shelter. I am so proud of the way they have taken to this!

By: Ticia

Ticia — Wed, 31 Jan 2007 14:43:09 +0000

Dave Ramsey has a great book/kit for helping kids learn how to save/spend/give their money. There’s also some games online and picture books to go with it. I haven’t tried the games yet, my kids are too young. But, my husband and I use the grownup version of his materials, and love it!
http://www.daveramsey.com/etc/cms/kids_teens_money_5195.htmlc

By: bellablue

bellablue — Wed, 31 Jan 2007 13:47:07 +0000

Such a charming photo of Mile’s lovely scrawl. One of these days I will do this with my girls. If only I were more organized….

By: Nina

Nina — Wed, 31 Jan 2007 11:18:16 +0000

I was just looking at a fancy store bought “piggy bank” that encourage the same thing. I didn’t like the look of it but liked the idea. This idea is a winner. I love it. Easy & Simple. Thnaks.