Good money habits can be an invaluable life skill. Ultimately, we are the ones to cultivate these by having money conversations and setting a good example to our kids, it never hurts to have a few props to help us along the way.
Money Savvy Pig
This piggy bank is divided into four sections. “Save”, “Spend”, “Donate” and “Invest” basically helps reinforce to the child the choices they need to maker to manage one’s money. The bank comes with a set of stickers so that the kid can personalize their bank. Some of the stickers come with pictures on it while some are blank so that the kid can draw their own. He can then place the stickers on the bank so to remind himself of the goal he is working on. This piggy bank also comes in red, pink and green as well as a non see through version.
Money Savvy Pig has also received a number of awards/accolades, including USA Today’s “One of the Best Products of the Year” and Parents’ Choice Foundation’s “Educational Toy of the Year”.
The Allowance® Game
The Allowance® Game is similar to monopoly but teaches money in ways kids can understand through everyday real life situations, such as buying ice creams, buying houses, taking out mortgages. The kids get to learn about money management and counting money through the game. Recommended for age 4 and above.
Raising Financially Fit Kids
Designed for adults concerned about raising children ages 5 to 18, Raising Financially Fit Kids is centered around a developmental map covering ten specific money skills each child can master by the age of 18 to become a financially secure adult. It gives parents a step-by-step approach to helping their kids become habitual savers, smart money mangers, and responsible decision makers. Some of the values this book are certainly valuable, bringing across points such as “Money is a tool for achieving and maintaining independence”, “Saving is good; accumulation for its own sake is not”, “Spending is best done wisely and within one’s means”, “Greed is not good.”
The book is divided into age-appropriate sections, so advice for parents of 5 year olds is different from that of parents of 9 or 13 or 18 year olds.