Your Child Need A Money Box

In many festivals, parents and elders prepare gifts for their children, toys, clothes, or food. Of course, there are also meaningful and creative gifts, such as a money box. A piggy bank can help children develop good habits and right values. Then, how to encourage your child to save?

1.Survey data show that 30% of parents use a money box or piggy bank to encourage their under-16s to save money.
they think this is a really good way to get child started in the world of personal finance. It teaches them that money doesn't have to be spent straight away, and encourages them to work towards their savings goals on their own. And as most of us might remember - there's nothing quite like the first purchase you make with your own savings, no matter how long it took you to scrape together.
2. Use a savings chart
Draw up a savings chart together, with their ultimate savings goal at the top. Every time they put money into their saving pot​, add it on to the chart. Make sure you tell them exactly how much money has gone in, Let them guess how long it might take to reach the goal at the current rate of saving.
3.Split their money into two.
Give your child two boxes (preferably clear ones, so they can see their money growing). Label one for 'spending' and one for 'saving'. Hopefully they should get a sense of how quickly money disappears from the 'spending' jar, but how it builds up in the 'saving' one.
4. Let them handle money.
When you're making small purchases, hand the coins over to your child. Tell them how much is there, what it's buying, and let them put the money into the machine themselves. As they put each coin in, count them up to the target ("one pound, one pound ten…"). This is a tip that will probably work best on small children.
5.Give them pocket money in return for chores or good behavior.
Whether it's washing the dishes or just "don't be naughty", your children will learn that good behavior or chores can be rewarded. This helps money take on importance and meaning - rather than something that is just handed to them arbitrarily. And, of course, they might want to save it in their money box.
6.Look for deals with them
Well, the big day has arrived and your child has saved up enough to buy their dream item. Try and find an item that costs less than your child's savings. Then you can tell them the happy news that they can buy what they want with their own savings!
You can find that the piggy bank is very helpful for children to develop the habit of saving money. You can select a nice money box as a birthday present or a holiday gift for your child. Maybe our website will have better recommendations.