In our home we are just starting to talk to A&W about money. They are nearly 4 and it is time for them to begin to understand the concept of money. I think it is important for children to understand at an early age that "money doesn't grow on trees". I also want them to understand that there are choices to be had when it comes to money (saving vs. spending etc). I realize this may seem like a lofty goal to get across to a couple of not quite 4 year olds but I figured the sooner we began the conversations the better. I would rather start talking about it now in a positive way than when they are 18 and already in massive credit card debt because we did not teach them about money!
There are a lot of piggy banks out there but none like The Money Savvy Pig by The Money Savvy Generation. The Money Savvy Generation was created by Susan Beacham to create an easy, engaging and effective way to teach children about handling money responsibly. The root of this movement is The Money Savvy Pig. The Money Savvy Pig is not your grandmother's piggy bank! Take a look at this little guy...
The Money Savvy Pig has 4 different chambers, each with a coin slot to decide where a child should put his or her coins. There is a spot a spot for saving, donating, spending and investing. So, each time your child puts money into the piggy bank they decide where it should go. The money is not just in this random pot that grab from at whim (that is what the spend chamber is for!). Each of the chambers is emptied through a different foot on the pig so you only empty the chamber you need when you need it. The Money Savvy Pig comes with goal stickers to help your child visualize what they are saving for. For instance, there are stickers with bikes and a CD that could be used in the save chamber or a graduation cap to represent college in the investing chamber. There are also blank stickers so your child can draw/write his or her own goal.
I love this idea and pig on so many levels. I love that it helps to teach children about money. Not just the "I want a bike so I will fill this up until I have enough" part of money but the really important parts. I want my kids to understand that you can have spending money but there should be long term goals as well. I also want them to feel compelled to give back to a charity. I really love that the Money Savvy Pig is interactive. When you have some coins to put in you talk about the where and the why. Right from the start you are teaching your child to be open and candid with you about money. This will only make it easier when money becomes even more of an issue when they get older.
The Money Savvy Pig is geared toward children aged 4-11 and I think it is a tool you can't afford NOT to have. Part of raising our children is to give them the tools they need to be adults and financial responsibility is obviously a huge part of that. I am so glad to have found the Money Savvy Pig. Talking about money is now a fun thing to do with the boys and I am so glad to have introduced the concept at such a young age. Sure, investing is a little more than they "get" right now but they can understand saving for something big and having access to their money for something small right now. The more complex items will come with time.
You can purchase your own Money Savvy Pig here. They are priced at $16.99 and come in 6 fun colors. You can also choose a Money Savvy Cow or Football which are in the same format as the pig.
Money Savvy Generation is giving one Reviewed By Mom reader their very own Money Savvy Pig! Here is how to enter...
Mandatory Entry: Visit Money Savvy Generation and tell me which of the Money Savvy Pigs is your favorite and what money lessons you want to help your child to learn.
8. Blog, Tweet or Facebook about this giveaway & let me know where to find it = 1 entry
9. Put my button on your blog or web page and leave a link so I can find it = 1 entry
Please leave a separate comment for each entry and be sure to include your e-mail. Contest is open to US residents and will end on September 4th. The lucky winner will be announced by e-mail on September 4th and also here on Reviewed By Mom. Good Luck!
Disclosure: This is a sponsored post and I was provided with a Money Savvy Pig for purpose of review. The opinions in this post are entirely my own. Your experience may differ from mine. This post has not been reviewed or edited by anyone. I was not compensated in any other way for this review. The sponsor of this giveaway is responsible for prize fulfillment and shipping the winner(s) their prize.