A ceramic moneybank with a money slot at the top and a rubber stopper in the base.
8cm diameter and 9.3cm high.
A few things parents can do to start teaching their children about spending and saving at an early age.
1/Pocket money is a Good Thing
2/Say No
3/Offer Some Guidance
4/Reward Good Saving Behavior
5/Be a Model Saver yourself
Like any project with young children, these steps will take time and patience, but in the end, it could result in financially responsible young adults. What more could you ask for as a parent?
A slightly more in-depth guide
Teaching your child about Money: 10 ways to help them
1/ Talk about money
2/ Be frank about money issues
3/ Talk factually about money
4/ Require chores; pay for optional work
5/ Provide children an allowance they can make real choices with
6/ Help children prioritize purchases
7/ Help children comparison shop
8/ Require children wait before making large purchases; a good rule of thumb is require them to wait as many days as they are old before allowing them to make a big purchase,(more than a week's pocket money).
9/ Don’t use money as a punishment
10/Don’t loan your children money
For a better explanation of these principles click on this link:
http://www.savingadvice.com/blog/2007/11/28/101923_teaching-children-about-money-ten-principles.html
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