Earn more money so you can buy more stuff.
I learned most of my personal finance skills as an adult from reading articles on The Simple Dollar website. Like many children, I didn’t receive money lessons at home that I needed to become a money savvy adult.
Schools don’t make it a priority to teach personal finance skills, so it’s something that must be taught by parents and family members to children–from an early age.
My son, Aiden, recently turned five years old, and he received cash from three different people for his birthday that added up to almost $100. Bingo! This is the perfect time to start teaching him some simple money lessons and smart money habits.
I’ve started talking to him about things like earning money, saving money to buy something special, how Mommy and Daddy save for retirement so we don’t always have to work to have money, and using our money to help the poor.
Of course, he doesn’t understand everything I tell him 100%, but I know that some of it is sinking in by the questions he asks me about money.
Right now, my son keeps all of his paper bills and coins in a money tin. I can’t really use it to teach him valuable money lessons, but I did come across a type of piggy bank that does so I’m giving it to him as a Christmas gift!
Money Savvy Piggy Bank
The Money Savvy Piggy Bank teaches kids smart money habits with its four slots:
I like that it teaches kids to save for short-term and long-term financial goals, and it teaches them about donating to their community.
The piggy bank is also transparent so kids can watch their money grow over time!
The Money Savvy Piggy Bank is an educational toy that makes a thoughtful holiday gift or birthday gift for kids. It comes in different colors and shapes, such as a soccer ball. Combine it with age-appropriate money lessons to raise a child who is smart with money!
Money is nothing more than the tool you use to maximize the time doing stuff you like. – Trent Hamm, The Simple Dollar