Celebrating This Chinese New Year with a 4 slots Piggy Bank (with good reasons)
[This is a spin-off article on “10 mini-saving accounts to help you to be disciplined”]
Think about the piggy bank you have when you were a child - do you remember how many slots it has?
Now fast forward to today. Knowing how to save money alone is no longer sufficient. Reason - we frequently find ourselves juggling and balancing competing needs all at the same time; spending, saving and investing. To survive, we need money managing skill. So, wouldn’t it be better if we start learning money management skill at an early age?
Many would agree.
But teaching young children on money management is not an easy task. That’s why a 4 slots piggy bank idea is born.
The 4 slot piggy bank comes with 4 saving chambers offers 4 choices for children’s money – save, spend, invest or donate. These are very four important money management concept.
And just adding additional coin slots, children now can manage their money in a more true-to-life manner and are able to grab the money management concept intuitively. To keep the motivation high and to make it easy to track the progress, the piggy bank is made from a clear plastic - so that how much money in each of the chamber can be seen clearly. Children can also decorate their personal piggy bank with stickers to help visualize their goal.
The idea of 4-slot piggy bank comes from Susan Beacham, a former banker and mother of two daughters. The piggy bank is part of the curriculum she created to educate children on money management. She is a firm believer that money management should be taught to children as young as four so that there can be more savvy on their personal finance when they grown up.
Beacham idea has been well received by parents and children since it was launched in 2001. She is now running the www.Money Savvy Generation.com. The 4 slots piggy bank costs US$14.95 but unfortunatelly it only available in US for now.
I can see myself having this 4 slots 4 chambers piggy bank with the following 4 stickers:
• Nikon D200
• Titus titanium Racer X mountain bike
• Apple 24 inch iMac
• Super red arowana
For those celebrating Chinese New Year - Happy Chinese New Year and “Soon-soon-ley-ley”