Thursday, March 14, 2013

Piggy Banks

The girls putting their coins into their piggy banks. Ray and I designed and painted both girls their own piggy banks while I was pregnant with each one.

We are trying to instill in them two things that will help serve as life lessons. The first is that you have to earn your coins! So when the girls pick up their toys, put their dirty laundry in the hamper, etc... we make sure to remind them that they are earning their coins. We also try to make that instant connection of giving the coin when the job is completed instead of waiting on a Friday for an allowance day or what we will call their "Pay Day". By calling it Pay Day instead of an allowance gives them the connection that they are earning their own money, not something that I am allowing them to have or just giving to them.

The second thing that we are trying to instill in them is that saving is a good thing. When you have that special item come up, then you will have the money to purchase it, or when a special moment occurs in life they can have a little green to help celebrate that happy time.  As they get older we will talk about their savings accounts, college accounts, etc... and get into the deeper meaning of a Pay Day and savings accounts, but its the little lessons now that help to create that strong foundation of financial understanding we hope to give our girls.

Emma is really getting the  Big Picture when it comes to the value of her coins lately, and she will bargain with you when doing a job. Ray very proudly declares that she gets this from him, but in reality it all started with her Poppa who came up with using coins as her potty training method!!

1 comment:

Melissa Rabinowitz said...

We have given Maddi four banks to divide her coins into: church, savings, spending, and Disney spending :)