Funny and quirky savings banks are a great way to encourage saving for children. Getting a child to put coins in the piggy bank slot, before they are old enough to know what money or savings are, is an excellent way to start them off. It can be easy to get them interested and keep that interest in saving as the grow older.
Money banks are not a new concept. For years they have been modelled on favourite toys and characters and can be easily found in stores and on market stalls. The novelty side of the piggy bank market has grown and the choice has expanded to include some very amusing and eye catching models. Anything that attracts the child's attention and keeps them interested has to be good.
Charities use boxes to collect money for their particular cause. These like the piggy banks, come in all shapes and sizes, to attract attention. Kids in particular love putting money in boxes with slots and by allowing this, the habit becomes reinforced as a good thing to do.
As the advertising world is well aware incentives are a great way for promoting a product whatever it is. So by agreeing with a child that when they achieve a certain target with their savings they will receive a reward, it is encouraging them to save. Praise them when they reach the target and ensure the target is achievable.
Children often have bank accounts as gifts when they are born. Gifts of money for special occasions throughout the year are not unusual. If these money gifts are deposited in the savings account, they can sit back and watch their savings steadily grown.
Leading by example is always the best way to promote saving for children. Regularly emptying out loose change from pockets and purses and then letting a child put it into a savings bank helps to set a good example. It is likely that as they child grows older they will continue to do this with their own loose change.