Inculcate Money Saving Habits in Kids with Piggy Bank

Do you remember how old you were when you got your first piggy bank? Parents use a piggy bank as a tool to make their child understand the importance of saving money and making it a part of their lifestyle which will be helpful for them in future. The Piggy bank is considered as the first lesson to learn management of money. It is considered as the universal symbol of saving money and a traditional way too. Earlier it was used by the service class people as a tool to save money. They keep aside few portions of their monthly income to save money for future use.

After some years the toy manufacturers started making toys and it becomes quiet famous among the kids across the globe. It was named piggy bag because it earlier times it used to be in the shape of a pig made up of inexpensive clay material .It was used to hold coins and saved money by a poor family. You can start your child money saving lessons by assigning them some weekly saving goals from the pocket money given to them on a weekly basis it will be helpful in inculcating good habits in them.

Give them a goal to save targeted amount money, which is required to open a saving account in them. The motivation for them would a personal account in their name at this age only. You can also teach them the concept of interest by paying them some extra amount for saving a certain amount in a given time period only.

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