When it comes to teaching your children about money management and finances, probably the very first exposure your kids will have to these concepts is their piggy bank. Most people see the piggy bank as a good way to teach their kids how to save money, but the truth is that there is a huge opportunity to go beyond saving money and teach your kids even more about finances and money management. The typical bank of old has many different forms today with many of these new banks going beyond the concept of simple savings.
With this in mind, it makes sense to spend a little time exploring the many different types of piggy banks that are available instead of grabbing the first one that you happen to see when you’re thinking about it. It’s also important to think a little bit about what you want to teach beyond saving money with the piggy bank. Depending on the area that you would like to focus upon, you can emphasize a number of different financial concepts, and even go beyond money into other areas that have absolutely nothing to do with finances.
One of the great things about many of the new banks that are out there is that they try to incorporate a fun aspect into the bank to encourage kids to do more of the concepts that they are trying to teach. Most parents are quite surprised at the wide variety of different piggy banks that exist these days, and you may want to purchase more than a single bank in order to teach a variety of different concepts to your kids.
Below are listed a number of different types of banks that go beyond the typical coin bank. Any one of these would make a wonderful gift to any child which will also provide the opportunity to teach them more than simply saving. If in your search you find any other piggy banks which we have not listed below which you feel do an excellent job of teaching kids something beyond saving money, please contact us. We’d love to hear about them and add them to our list:
Money Savvy Pig: The money savvy pig is a four chambered bank that teaches the child that beyond saving, they also need to set aside some money for spending, donating and investing.
The Best Children’s ATM: The Best Children’s ATM is a bank set up like an ATM. This allows the child to learn how an ATM works at the same time that he or she save money.
Coin Counting Bank: Coin counting banks help a child learn the value of each coin as they place it into the bank and allows them to keep a running total of what they have saved.
Piiiiig Bank: The piiiiig bank is an expendable bank that allows you to add more sections as the bank becomes full. The more you save, the bigger the bank becomes.
Duel Saving Bank: The duel savings bank allows to kids to compete saving money against each other, or allows for savings for two things that a child wants to compete against one another.
Shrinking Coin Bank: The shrinking coin bank uses an optical illusion to make it appear that the coins going into the bank magically shrink in size as they fall to the bottom.
LeapFrog Super Saver Teaching Bank: The leapfrog super saver teaching bank is for children that are just learning what coins are and gives them an opportunity to learn the value of the coins they receive.
Moonjar Moneybox: The moonjar moneybox has three separate compartments for saving, spending and sharing. It also goes old school by giving an account book that allows the child to calculate how much is in each compartment.
Wooden Money Maze: This maze bank forces the child to solve the maze in order to be able to get the money that has been saved in and out.
Money Mama Piggy Bank: The money mama piggy bank is a typical ceramic piggy bank, but has for coin openings in it for a child to save for different things.