Resources to teach your kids about money

May 16, 2012 in allowances,kids and money,lessons for daughters

Welcome Hearts at Home fans! This post is from last spring but it fit so perfectly with the theme of the blog hop that I linked it up. Currently here at Pruning Princesses we are busy with a series called “Lessons for Moms on Eating Disorders.” I hope you will check it out. The first post is in the series is here.

Today is a resource day on allowances. If you missed our family’s allowance practices yesterday, click here. And just so you know, this is a resource page for you. I did not receive any compensation for promoting these products.

You know that awesome bank I shared a picture of yesterday? It is the best. Made of clear plastic so the girls can’t break it and they can see their money. The savings category only opens from the bottom to make it harder to get to. The top has small white boards so you could write the amount on top if your kids are more organized than mine. It was made by a company called Learning Cents and when I went to buy another one for my niece, I discovered they are no longer in business. Let me show you the awesome pictures of our bank so you can start a new company and produce something similar  again.

Top of bank

Okay. Now that someone is hopefully starting a new business. Let me share some books with you and then show you some of the banks that are out there.

Financial Peace Jr. :Teaching Kids About Money! This kit has a story, a chore list, and an envelope system. It is targeted at elementary kids. If you are familiar with Dave Ramsey, there won’t be anything new that you couldn’t do yourself. But sometimes, if the tools aren’t at hand, I never get around to setting up the systems I need. Also, I would hide this book from my kids. I hate the subtitle “Cool Tools for Training Tomorrow’s Millionaires.” Seriously, I don’t want my kids to see that subhead even though it sounds cute. Making a ton of money is not one of my goals for my kids.

 

 

The Junior Series. These six cute stories provide a good way to teach your kids about six areas of money: spending, saving, giving, integrity, debt, and work. My kids learn better from stories than they do from lectures. Buy these used on Amazon or buy all six from Dave Ramsey’s site.

 

 

 

Money Sense for Kids by Holis Page Harman. This resource book from Barron’s covers where money is made, what all the numbers on bills mean, how the money gets from the mint to you, the purpose of social security numbers, how banks can give interest and more. It is fascinating and incorporates history and math. You’ll be learning with your kid with this book.

 

 

 

 

I can’t find any banks as awesome as the ones I have. But there are options. Some families add a fourth category for investing. First a DIY tutorial I found on Pinterest. It’s from a blog called Bits of Everything.

The next bank is from The Money Mama. It costs $14.99 plus shipping and the jars are plastic.



This bank is best for your littlest kids. I love the tray on this one and each house opens up and would be easy to take to the bank or the store. It is from Money Smart Kids and costs $15.00 including shipping. The main drawback is their size. The houses are small, measuring just 41/4″ wx 11/2″d x 3″h. The website says each bank holds 75 quarters.

I love the look of the bank below. The tray can be ordered in pink or green or white. The label is a chalkboard label so it can ne personalized. It costs $30.00 plus shipping. The jars are glass. Lil’Light of Mine sells them…check out her beautiful scripture cards if you visit her website.

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This final bank matches the characters in Dave Ramsey’s Junior books. The three banks can be separated. The sides and backs of the banks are transparent so kids can see their money accumulate.  Reviews say they are way bigger than expected (dimensions are not given) and very sturdy. Click here to purchase this bank.
If you have more resources or thoughts about teaching your kids about money, please share! 
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{ 10 comments… read them below or add one }

Courtney DeFeo, Lil Light O' Mine May 16, 2012 at 5:24 pm

Thank you so much for featuring the My Lil Money Jars by Lil Light O’ Mine. Like you – we don’t care where you get them – just enjoy the fun of teaching your kids such powerful lessons so early. Um this spender coulda used some jars a lot earlier in life. 🙂 Good thing I married a saver. Also, do note that our jars are erasable so kids have so much fun making them their own. The custom labels really motivate them. Thanks again!

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The Røsviks May 16, 2012 at 7:51 pm

Thank you soooo much for sharing about all these resources! This was really helpful. 🙂

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Kerri S May 17, 2012 at 7:56 pm

thanks for sharing all of these wonderful resources, Laura!

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Mommyof2girlz/StephD May 19, 2012 at 12:23 pm

I love your bank! My girls have bank but we used old formula cans and let them decorate them. Love the idea of the three containers and that they can see through them. Fabulous! Stopping by to say hello from SITS 🙂

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Michelle May 19, 2012 at 12:25 pm

Over from SITS Sharefest! Great ideas. My daughter has what she calls a “piggy-tank”, but I don’t think she really gets the idea of saving. This post is a great resource.

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Michelle Garrett May 19, 2012 at 1:30 pm

Over from SITS. Wonderful ideas!!! Definitely checking out the Money Sense for Kids and Bits of Everything. This summer my goal is to get my kids on a budgeting/savings plan is this is definitely the kick start needed!

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doseofreality May 19, 2012 at 1:35 pm

Visiting from SITS, and I am so glad I did! I have really been thinking lately about ways to really start teaching my girls about money. This has been so helpful! 🙂 Thank you!

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Lance and Stephanie Kneese May 30, 2012 at 5:28 pm

I love the “Give, Save, Spend” when my little girl gets old enough that’s how I want to teach her about money. Thanks for sharing!

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Bonnie Way November 3, 2012 at 5:21 pm

I like these ideas! Our girls have piggy banks and like putting money into them, though they aren’t quite aware of what money does yet (they are 4 and 2). These are such cute piggy bank ideas. Thanks for sharing! (Coming over from Make My Saturday Sweet!)

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pruningprincesses November 3, 2012 at 11:23 pm

Bonnie, I am so glad you stopped by. My girls didn’t really understand the concept of money until they understood how to count it, but I am glad I introduced the concept of spending, saving, and giving early. I love our divided banks and some of the ones listed here are so cute. I personally love the jars with the chalk board on them, but I learned the hard way that toddlers should have banks made of plastic. I bet you could do something similar yourself with well washed plastic peanut butter jars!

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