Piggy Banking For Adults2 min read

We learn many things as the years move on. Some of these lessons are learnt in Chemistry class. Others are discovered during the course of the exams. Yet other lessons are learnt outside our classrooms. We learn to be less impetuous and much more alert. We learn to work harder and be more optimistic. We learn the importance of being earnest. We understand the need to be honest and to be a person of integrity. There are many lessons that we learn. Among these is the one where we learn about the value of money.

Remember how we collected all available coins in piggy banks of various shapes and sizes? Birthday gifts from loving uncles and aunts were carefully placed in the piggy bank, as did the earnings from different errands that we ran. Coins and notes that found us along the way also found their way into the piggy banks. After days and days, only when the piggy bank got heavy, did we finally determine that it would have to be broken. Then we spent hours thinking of what would be the best way to spend it all. We wanted to get the most out of it. I think that is how a lot of us learnt about the value of money.

If you are attempting to impart to your child the importance of money, and he is a little big for piggy banks, get him a savings account. It is a wonderful method of making your child have an appreciation of the value of money. Put some money in the savings account, give your baby a passbook, and watch him start taking care of his money at an early age. This will work much better than yelling at your child for having no idea of the value of your money. He will have no idea of the same if you do not give him a fixed budget. If you continue to complain, and simultaneously indulge him with the most expensive gifts, this is a lesson that will end up not getting taught.

How do you find a good enough savings account for your child? Now, that will not be too hard. Banks everywhere are keen to get younger and younger customers. “Get them young”, as they say. This is the age group that banks are making their target group so as to build brand loyalty. Try looking around for some good savings account plans for children and choose the one that is the most promising. Not only will a savings account teach your child the value of money, but you might soon have an accountant in your house.

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