Tuesday, January 29, 2013

Counting Coins

Teaching your children how to save money at an early  age is a great thing.  They would learn how to value money and what factors does it contribute to an everyday  living.  We have piggy banks at home that my Burritos used to  stash coins.  When we go to the store and they "want" to buy something, I always ask them "Do you really need it?"  Then if they say that they don't the amount of the money that they want to spend gets to go to their piggy bank when we comes home.
At the end of the year, they count their coins, their cash gifts received, and the money they earned for our rewards system at home and decide whether they   put it in the bank or buy a big thing they want.   It always  ended  depositing it in their savings  bank, their "Adult Money".

Last year, they accumulated over $200 each so that was  added to their  savings account.  This  practice not only teaches kids how to save and value money but they also apply their Mathematics skills  at home.
ABC Wednesday