Teach children to save money, and you’ll be passing on a critical self-sufficiency lesson. I provide teach children to save lesson plans, and help you with teaching students about saving money.

Popular Ways to Teach Child to Save Money:

How to Make Saving Money for Kids Second Nature

The 9 Reasons Why Your Kid is Not Saving Money

3 Ways to Re-Kickstart Your Kid’s Savings Goal After They Lose Interest

57 Savings Action Steps to Get Your Kid Saving More Money Today

How to Make Saving for Kids Second Nature

My kid never wants to save money...in fact, it seems like saving for kids is just too hard to do. I'm willing to give this a try! #parenting #parentinghack #savingforkids #kidsavingsplan #children #ideas #money | https://www.moneyprodigy.com/how-to-make-saving-for-kids-second-nature/

Wouldn’t it be amazing if saving for kids (YOUR kids) was second nature? Let me show you how to get there.

Have you ever noticed that, aside from that 10% or so of kids who seem to have been born with a money-hoarding mentality, saving for kids is about as “second nature” as driving a car for the first time?

I want to tell you not to worry, because savings can eventually become second nature, especially with the tips I’m about to share below.

Tip #1: Designate a Savings Space

If you set up the expectation that there should be some savings, chances are better that it will actually happen. So, set up some savings space for your child, whether that be in a jar, cool piggy banks, at a bank (here's one of the best accounts to start for a child), or anywhere in-between.

Tip #2: Let them Name their Savings Space

The easiest way to get a child to care about saving money is by getting down to a savings goal for something they want to be/do/have. I talk about that much more in depth here. Once they have that savings goal narrowed down?

Psst: Here’s a 1-page guide you can go through with your child to narrow down all the things they want to do/be/have to the one with the quickest win to start their target savings journey.

Then you want to encourage them to name their savings space something fun having to do with it. You could put a label on the outside of a mason jar, or add a nickname to their savings account online to do this.

Tip #3: Set Up a Consistent Kid Money System

Let me ask you something. So, your boss gives you a $1000 check this week. And two weeks ago? It was $2600. And then two weeks from now rolls around. Guess what? You get nothing.

You’re probably feeling kind of flabbergasted, right? Worse yet, since you don’t have consistency in what you’ll be receiving, you can’t really plan for anything, you’re putting out fires, and you don’t trust that the money is coming so you aren’t putting anything into savings knowing that more will be coming soon.

Your Kid Money System matters, and if it’s not consistent, then your child probably won’t save money. Your child needs to know when they’ll be receiving money and how much they’ll be receiving, in order to plan ahead for spending (which really means, in order for them to feel like they can actually save money and even create a savings goal, instead of spending all of it today).

Pssst…Not sure how your Kid Money System stacks up? Click the image below to download a free Kid Money System Scoresheet.

Not only does your Kid Money System need to be consistent, but it also needs to have clear money boundaries and responsibilities outlined so that your child understands WHAT they are responsible for and what you are responsible for paying.

Because let’s be honest: if you thought YOUR Mom was paying for your new sneakers, would you save a penny for them? Heck, no! I sure wouldn’t (Mom, if you’re out there, I’d like the Nikes).

Teaching Kids to Save Money When Your Savings Sucks

I've been wondering how can I teach kids save money when my own savings account sucks? Teaching kids to save money is definitely doable based off of exactly where you are in your finances, right now. #kids #parenting #kidsandmoney #kidssavemoney #children #ideas #jars | https://www.moneyprodigy.com/teaching-kids-to-save-money-when-your-savings-sucks/

Are you hesitant in teaching kids to save money because your own savings account kinda sucks? Don’t worry. You’ve got this, Mama Bear.

Do you feel less than confidence about teaching kids to save money because your own savings account, well, sucks?

You’re not alone. The Personal Savings Rate in America hovers generally around 5%, which means that most Mama Bears don’t have any savings at all.

But how are you supposed to teach your child to save money in a “do as I say, not as I do” kind of way?

Hi, I’m Amanda L. Grossman from MoneyProdigy.com where I teach kids aged 8-13 how to save money through educational adventures, like the Mt. Everest Money Simulation.

Kids save money — it doesn't have to be a pipe dream. And I’ve got 3 strategies to help you teach your own kids to save money despite the $500, $0, or even negative savings account balance you may have. So, you can check your money hang-ups at the door. Seriously.

Strategy #1: Put them in control of some money.

Here’s the thing: research shows that children who grow up money-smart didn’t get that way because their parents are amazing with their own money. The number one reason why they got that way is by being allowed to manage their own money, make mistakes, and then learn from those mistakes.

This means that even moreso than the next two strategies, your number one way to ensure a money-smart kid is to actually give them money to handle.

Pssst: But that's not actually entirely enough. You need a full-blown Kid Money System. Don't fret, I've got a 48-hour Kid Money System Makeover Challenge you can join for free. Get yourself a system, stat!

Strategy #2: Fake it ‘Til You Make It

It turns out that modeling good financial habits is really important. In a T. Rowe Price’s 2017 Parents, Kids, and Money Survey, they found that parents who are more money-savvy (which is measured by them having 3 different kinds of savings – retirement, emergency fund, college, savings for a goal, etc.) have kids who are 12% less likely to spend their money as soon as they get it, and 9% less likely to lie to their parents about what they spent their money on.

Look – you’re likely not saving the amount of money you’d like to each week, month, or even year.

But that doesn’t mean that you can’t model good financial habits for your kiddos to pick up on.

Here are some ways to fake it ‘til you make it, or rather model good savings behavior even when you’re not where you want to be:

  1. Make Physical Cash Deposits: Even if it’s just $10 – because honestly, your kid doesn’t have to see how much you are depositing into your savings account, just that you ARE depositing money into your savings account.
  2. Set Up a Change Jar with a Specific Goal: Maybe change jars aren’t exactly your thing. But they’re a great visual to share in your savings process. So, set up a savings jar and write what you want to buy with the money on the outside. Empty your wallet into the change jar on a consistent basis. Don’t be surprised if your kiddo starts their own!
  3. Set Up a Household Skim-off-the-Top Rule: Decide today that 10% or 5% or 50% of all extra, non-paycheck money that comes into your household will be put into savings. And then actually do it, in front of your child.

Strategy #3: Mine those Money-Story Gems

You’ve had money experiences – both successes and failures – you’ve been in the banking industry for some time now, you know how this money thing works.

Maybe you don’t exactly get investing. Maybe you’re not even contributing towards a retirement account at the moment.

But your money past is ripe with stories and dialogues and teachable moments to have with your child that will change the course of their own future. So, use them!

Follow these strategies, my dear, and not only will you raise a money-smart kid, but your own savings account will probably grow!

Your Kid’s Not Saving Money. But Do You Know Why?

Soooo...you've tried everything, and your money convos with your kiddo has turned into a big nag-fest. Well, I'm here to help! There are 9 reasons why your kiddo might not be saving money, and I've given you steps to take to help each one alone. #teachkidsmoneymanagement #financialliteracy #kidsandmoney | https://www.moneyprodigy.com/teaching-kids-to-save-money/

So, you're teaching kids to save money…and it's just not happening. But do you know why, exactly? Because figuring that out can show you the specific thing(s) to work on to move them forward.

Sooooo, your kid’s not saving money. In fact, they’re spending it faster than bubble gum companies can restock the checkout shelf (or at least it feels like that).

And you’re starting to wonder if this handing-over-money-to-your-child thing is just another way your hard-earned money has found a reason to exit your OWN savings.

I mean, how the heck are you supposed to teach kids money management or how to teach your child the value of money when they see it as a free-for-all?

Hi, I’m Amanda L. Grossman from MoneyProdigy.com where I’m teaching kids aged 8-13 how to save money through educational adventures like the Mt. Everest Money Simulation.

Today I’d like to talk to you about how to dig deeper into the age-old problem of a kid who spends their money.

ALL of their money.

I’m going to give you a rundown of 9 different reasons for why your kid might not be saving their money, so that you can do some digging and get to the bottom of the behavior.

After all, every kid is different, right? Awareness first, then you can redirect the ship!

Reason #1: They Don’t Have a Savings Goal.

The best, smallest action step you can take to get your children to care about saving money (or money in general) is by asking them to set a savings goal.

You can talk them through the entire goal setting for kids process here, but in a nutshell:

  • Ask them what they would like to be/do/have outside of what you guys provide for them.
  • Walk them through prioritizing all their funny, lovely ideas down to just the ONE that makes sense for right now (hint: that’s usually the quickest win, as kids are not at the stage where they can happily live out pleasure sacrifices for long).
  • Ask them if they know how they can be/do/have that.
  • Help them research and price the cost of their savings goal.
  • Help them come up with a savings plan for how to actually get there.

Bonus: have them write their savings goal down. According to this study, 68% of kids with a written down savings goal track their spending. And tracking your spending? That’s just a hop + skip away from saving enough money to get what they want.

Reason #2: They Don’t Believe It’ll Ever Happen.

Do you know how hard it is to believe that something you’ve never seen successfully occur, will actually work out? If your child has never seen the other end of a savings goal, then they may not believe – especially come week 3 of setting aside money they could be using to buy more Pokémon cards – that it will ever actually happen.

This is why it’s so important, at this stage in the game, to help them prioritize the savings goal that is the quickest win. Today, choose a savings goal that will take them 2 weeks or two-allowance/chore commission cycles to accomplish.

And next year? They’ll be more able to tackle one that’s a few months out.

Reason #3: There Aren’t Clear Money Expectations Lined Up.

If your child thinks you might end up buying them what they want to be/do/have, then there’s no real reason for them to start saving money towards it, right?

Once you learn what your child would like, you need to set up clear expectations for them with who is going to pay for it. Are you going to pay for part of it? Or is the whole responsibility theirs? Can they ask for it at a holiday/birthday occasion?

In the future, you can help clarify things by categorizing what is their responsibility versus what is yours, such as your teenager taking over all responsibility to pay for their weekend hangout with friends, or your 8-year old taking over responsibility to pay for any candy they happen to put in the cart at the grocery store.

Reason #4: They Haven’t Witnessed Good Saving Behavior.  

Don’t beat yourself up for this one – I sure as heck am not. But it IS a reason for why your child may not be saving their own money. Have they witnessed good savings behavior from you or your spouse? Do they know what saving money is?

This would be a great time to open up the savings conversation and show your kids what you guys are saving for, the sacrifices you’ve made, and how great it is when you actually get what you want. Teaching children to save money doesn't have to be hard when you can model it yourself.

Reason #5: They Don’t Earn Enough Money Beyond Paying for Responsibilities.

Have you laid out money responsibilities for your child to pay for…that very closely exactly aligns with how much money you’re giving them? If that’s the case, then they certainly won’t be able to stockpile any (though you could challenge them to become creative in how they buy what they need, such as use a coupon, or buy in bulk and dole it out in the same amount they would have used anyway, etc.).

What would happen if you increased the amount of money that you gave them, or took away one money responsibility that they need to pay with it? Who knows – but teaching your child to save money might be on the other side of that.

Reason #6: They Have a Weak Instant Gratification Muscle.

Hint: Most kids have this one. Especially if you're teaching preschoolers about money. 

It turns out many of us aren’t born with the strong ability to look instant gratification in the face and turn a cheek.

But you know what? You can actually stretch and grow your kiddo’s instant gratification muscle. Check out my post all about how your child can learn to grow their instant gratification muscle.

Reason #7: They Have No Incentive to Do So.

If we’re going to be honest with ourselves, then most of us can say we need an incentive to actually do something.

Does your child have any sort of incentive to save their money? Incentives could be:

  • Matching contribution from you guys.
  • Interest earned in their savings account.
  • Having had success meeting a savings goal before and getting to buy that sweet thing they wanted to do/be/have.

Hint: this is why the fed raises/lowers interest rates. They want to bait us all to either spend more money/take out more loans, or to stop spending so much money/save more of it.

Lots more about this in my freebie: 57 Action Steps to Get Your Kiddo to Save Money Money Today.

Reason #8: They Don’t Have a Physical Space to Save their Money.

Does your child have a physical separation between money they’re going to save, and money they’re going to spend?

This could look like:

  • A mason jar for savings.
  • A compartmentalized piggy bank.
  • A wallet with one slot to spend, the other to not spend today (though this is very short-term if it’s as accessible as reaching into a different slot).
  • A savings account.

Reason #9: They Don’t Understand the Value of the Money They’ve been Given or Earned.

Your kiddo might not actually get the awesomeness of the money they’re given or that they've earned. Because they might not understand that a little bit of money, set aside for a period of time, adds up to a lot of money.

Like today, they might look at their allowance as candy money. But you need them to see that, given time to accumulate from week to week, it’s actually skateboard money, or video game money, or rock-climbing camp money.

Pssst: Check out this article on how to get them to understand the value of their money

Oh, the power they have in their hands! If they can only realize that it just takes time and some restraint.

There you go. Now you want to assess where your own child is getting hung up on – or the MULTIPLE places they’re getting hung up (more likely) – so that you can work on getting rid of those specific road blocks to saving money.

The 1-Page Money Goal Setting Worksheet for Your Kiddo

This 1-page goal setting worksheet for kids will get your child to choose the BEST money goal for themselves – meaning the one they're most likely to stick with.

Kids have many competing desires in life (which is why they need a goal setting worksheet for kids).

They want All. The. Things.

And they want them now, amiright?


:: the newest video games
:: to go to the arcade
:: a snowboard like Shaun White’s
:: a white guitar with a skull like Pixar’s character Coco

It’s endless (not that I have to tell YOU that!)

And that probably sounds familiar, right Mama Bear? Because you and I have endless wants as well.

How can you help your kiddo narrow down their wants and desires so that they’ll have one savings goal to stick with to learn money lessons from?

I’m Amanda L. Grossman from MoneyProdigy.com where I teach kids about money, and today I’m going to give you 3 tips on how to help your child pick just ONE savings goal to work on.

Goal Setting for Kids Tip #1: Don’t Tell Them No

What child – or even adult, for that matter – wants to hear “no” when they tell you what they want?


Of course, they can’t have everything that they want (and I would never advise that, anyway!).

But for now, don’t tell them “no.” Instead, you’re going to tell them this:

You can have everything that you want in life, you just can’t have it all at the same time.

Goal Setting Action Step: Help them brainstorm every single want they possibly have, and get them to write them all down on a piece of paper.

Goal Setting for Kids Tip #2: Go for the Quickest Win

Your child needs to see that the process of setting a goal to save for and then to actually purchase – whether it’s something they want to be, do, or have – actually works.

If they see that it happens successfully one time, then they'll be more enthusiastic about trying it out again.

You'll need to eliminate as many kinks in this chain as possible for this to happen.

So, you want to steer their first savings goal towards the quickest win.

Goal Setting Action Step: To do this, use my Savings Goal Matrix. You’ll guide your child to fill in all of the wants they just wrote down according to how long each will take to save for, and how important it is for them to buy it.

Goal Setting for Kids Tip #3: Help Them to See the Light at the End of the Tunnel

The beginning of their savings goal journey – after the initial excitement from it all – is going to be a tough one. It’s partly because your child doesn’t have the experience of achieving savings goals to know that there is a happy ending to this whole thing.

I mean, can you imagine just jumping into the car and driving off to the beach without knowing whether it’ll take you 2 hours or 2 weeks to get there?

You’d probably give up because of lack of confidence.

So, you need to help them see the light at the end of the tunnel.

Goal Setting Action Step: You want to come up with an estimate date for how long it will take them to save for this item so that they know the sweet reward is coming. If they get an allowance, then you can talk to your kid about what amount they’ll want to set aside for their savings goal. Once you know an estimate amount they can set aside each week towards it, you can calculate out how many weeks or months it will take for them to reach it.

Remember that today your kiddo might be saving for the newest video game, or a pair of sneakers all their friends have. But do this right? And eventually, they’ll be setting the kind of goals that make a real difference – like a down payment for their first home, or enough to max out their Roth IRA retirement accounts each year.

Pssst: Now that you've gone through the goal setting for kids activity and they've got a savings goal, you'll want to check out my 57 Action Steps to get Your Kid to Save More Money to help them actually reach it.

I’ve been looking for a goal setting worksheet for kids that will help my child set goals (it’s so hard to get them to set just ONE goal). I love how this one is one page, and works for kids goal setting, goals setting for teens, and even can give us some help with family goals. This woman shows how goal setting also ties into a money education for your kid – bonus points. One of my favorite goal setting activities for kids, and will help with a growth mindset. #goals #familygoals #kids

3 Steps to Re-Kickstart Your Kiddo’s Savings Goal After They’ve Lost Interest

Goal setting for kids | activities | ideas | students | growth mindset These are GREAT ways to help get my kiddo working towards a goal again. They seem to lose interest so quickly! #goal setting for kids #activities #ideas #students #growth mindset| https://www.moneyprodigy.com/goal-setting-for-kids-when-they-lose-interest/

Goal setting for kids – especially goals around money – needs to have these steps built in for when they lose interest and belief that they’ll actually ever get there.

So, your kiddo has declared a savings goal they’re going to save up for…and gave up on it after only a week (again)?

It happens.

Heck, it even happens to adults (anyone notice the difference in gym traffic February 1st versus January 1st? Same concept).

Right out the gate, goal setting for kids is exciting. Maybe it’s thrilling, slightly intimidating, but makes you feel important enough to announce it to everyone.

Then when the going gets tough – your kiddo sees something else they’d like, or they stop believing they’ll ever actually reach the more expensive goal and so opt for the instant gratification purchase instead – the goal just kind of fades away.

Let’s discuss strategies for getting your child to re-kickstart that savings goal of theirs, even after they’ve lost interest and moved onto the next thing (a really important step in the goal setting for kids arena).

Jump Starter #1: Have the “People Make it on the Second-Go-Round” Talk

Chances are, if you point out the fact that your child has given up on their savings goal so soon, it’ll probably make them a bit bummed (if they’re not kicking themselves about it already).

SO, now’s the PERFECT time to introduce a pep-talk with concrete examples of really popular inventions/events/goal-setting where the original person had failed to create on their first try, that we all take for granted today.

A few come to mind for me:

  • Walt Disney: The man behind Mickey Mouse was actually fired from a newspaper once because he was thought to not have enough imagination and not enough good ideas. Go figure? Thank goodness that he kept going, as we would have all missed out on Disney World, The Little Mermaid (my personal favorite), and all things cartoons.
  • J.K. Rowling: Her goal was to get her Harry Potter series of books published. And yet, she was rejected by 12 different publishers first.
  • Jim Carrey: He knew he wanted to be a comedian since before 10. At 15, he took the stage for his first routine ever…and completely bombed it. But he kept going!

Jump Starter #2: Break the Original Goal Down into Pre-Chosen Rewards

Goal setting for kids 101: Your child has got to BELIEVE that they can actually reach their savings goal. Otherwise? Well…they’ll give up again.

Adults do it all the time when setting a goal! Like…:

  • I can’t actually save up for a trip to Paris, so instead I’ll use the money I have saved up for a beach weekend getaway.
  • Paying off all our debt is impossible to do, so instead of throwing any extra money towards it, I’ll let it get eaten by our checking account gremlin.
  • I feel really crummy about not getting what I really want, so I’ll spend $9.42 on my Starbucks order.

This go-round, help them break the goal down into tinier chunks with rewards at the end of each.

It’s like building a personal board game of rewards!

So, for example: a purchase goal that will take $52 can be broken down into three $17 chunks. Each time your child achieves a $17 increase in their savings, they can reward themselves – with your blessing – by:

  • Having a friend sleepover.
  • Getting to choose what’s for dinner (Mama’s homemade cooking!).
  • Getting to choose the movie for family movie night.

Jump Starter #3: Introduce a “Surprise” Money Incentive

This time ‘round when goal setting for kids, keep them motivated for longer by introducing a surprise money incentive from the Bank of Mom & Dad.

Choose a random week (perhaps when they seem a little eager to give up…like week 2), and tell them that all money that hits their savings account for their goal by Friday is going to be doubled by you guys!

Goal setting for kids is really about stretching and growing their instant gratification muscle. And it's hard to do. You've now got 3 smart strategies for getting your child to follow through with their goals. Which are you most excited to try?

57 Savings Actions Steps to Teach One of THE Most Practical Money Skills

Kids save money | children | ideas | jars | quotes | tips | Of the practical money skills I want to teach my child, how to save money is at the top of the list! Awesome that there's 57 ways to do it. #kidssavemoney #children #ideas #jars #tips #quotes | https://www.moneyprodigy.com/57-savings-actions-steps-teach-one-practical-money-skills/

You’d be hard-pressed to find more important practical money skills to pass onto your kiddo than this one – how to save money.

I interviewed 16 Mama Bears about what they want to teach their kid(dos) about money (such as, kids save money? Stay out of the debt cycle? Investing? Etc.).

But I didn’t just want to know the steps they were taking, or what custodial financial accounts they had opened. I wanted to also understand their own money hang-ups and relationships.

Psst: by the way, would you be a doll and take this survey yourself? I’m always trying to learn more about what it’s like to be YOU trying to teach your child about money.

I was pretty shocked to find out that 14 out of 16 of the women who took the survey said they’d received little to ZERO money education from their own parents.

Their answers to what kind of money education they received as a kid say it all:

  • “Little to none. My mother had a terrible relationship with money and either had none or spent it like it was water if she had any.”
  • “None. I mean I would say virtually none. My parents never sat down and they didn't even sit down and show me like when I got my first checking when I went to college. I didn't even get any education around that.”
  • “None. My mom had and still has credit card debt. You would think I would have learned to avoid the struggle but I didn't.”
  • “Life. Nothing formal.”

The thing is? I know you’re different. You want to teach your child one of the most important life skills you can – money management – because you don’t want them to start out in the deficit (figuratively, and literally) that you did.

I’m here to help you with just that.

Where to Start the Money Education with Your Own Child

Listen UP: If I could only choose ONE lesson that I could help you teach your kid(dos) about money – and there are umpteen numbers of lessons to choose from – then I would choose how to save money, hands down.

I’m not a betting woman, but if I were, I would put ALL my chips onto that one.

Saving money – the automatic outcome to another important money lesson of spending less than you earn – gets people out of a lot of problems.

It helps people do things like…:

  • Have an emergency fund/buffer savings to tap for those life oopsies.
  • Set aside money for retirement.
  • Have money to start investing.
  • Put a down payment on a home.

I could go on. But instead, I’ll jump into ways to get this lesson to stick. Because let’s face it: saving money does not come naturally to many people.

Let’s attack the challenge of teaching your kid(dos) to save their money from all different angles. I’m going to show you 6 big steps you can take to implant a healthy savings habit into your child now – before their checking account depends on it.

But that’s not all! I’ve actually created a free checklist of 57 different savings action steps to get your kid(dos) to save more money.

#1: Understand that money accumulates when left alone

Let’s talk about the actual process of letting money accumulate.

Your child needs to learn that money can accumulate when it’s left alone – both from compound interest earned in a savings account, and from saving a few dollars from allowance-to-allowance.

In order to see that, you’ve got to set up saving-money spaces. Otherwise, you might just continue to find it crumpled up on their bedroom floor (*gasp*! Yes, I’ve had more than one Mama Bear tell me this is an issue in their household).

Action Step: Set up a bank-trip day in your household. Let your kiddo know that on this day (weekly, bi-weekly, or monthly), you’ll be swinging by their savings account bank and they can make a deposit. And to get them really motivated? Swing by on this day, even if they have no money to deposit. It’s a nice reminder for them to save their money.

#2: Save up for their next want

Your kiddo – just like us adults – will be much more motivated to save their money if they have a very specific goal in mind.

Help them come up with their goal to save for, and then tie every money conversation/money question they have back to it. Wow will those conversations be more meaningful to them!

Action Step: Help your child narrow down a savings goal that will take, at most, a few weeks to reach. Otherwise, they’ll lose interest!

#3: Stick with a Savings Goal for more than a week

Sure, your kiddo might have a goal to save for now…but what's going to keep them motivated to actually continue putting money aside for it in the weeks and months to come?

Action Step: Introduce a savings matching bonus that takes place at the end of the second week of their savings goal attempt. Do it again, but two weeks after that.  

#4: Stop spending their money as soon as they get it

Ahhh…the anti-savings behavior that most kiddos (and adults) wrestle with.

We’re not just growing money with these action steps – we’re growing lifelong habits. Let’s change this behavior by establishing a healthier one so that when your child gets their hands on their first paycheck they know what to do with it.

Action Step: Change the day of the week when you give your child an allowance. You don’t want to give them money the night before they have boundless opportunities to spend it (such as a Friday). Instead, give them their allowance on a Sunday night. That way, they’ll have to save some of it for next weekend…or else live with the outcome of a penniless weekend (trust me, they won’t do that more than a few times).

#5: Understand that money has actual value

Isn’t it so frustrating when your kid buys something that (and you know this ahead of time – ahhh it’s almost a curse how clairvoyant we Mamas are, right?) they’ll stop playing with next week?

So, how do you get your kiddo to stop wasting their money? Well, they’ve gotta understand that money has value. That not spending their money on something that has very little use for them, and instead spending it or saving it up for something that will make a bigger difference in their life is the way to go.

Action Step: Take a toy-graveyard inventory with your child. Ask them to gather a hand full of toys that they no longer play with because they lost interest. Now you go in and gather a hand full of toys that they “wasted” money on because they bought them (or you bought them at their pleading) and they stopped playing with after just a few uses. Take out a pen and paper and get them to help you estimate what each toy cost at the time of its purchase. Then tally up the total. Reveal this to your child, then ask them how they would feel if, instead, they had this money in their savings right now.

#6: Earn/Source money for their savings

Now that we’ve got savings space(s) set up + optimized, let’s start looking at ways to earn and source more money to actually fill ‘em up!

Action Step: Come up with a list of 7-10 different Savings Chores/Projects around the house that your child can do. What makes these special is that the money earned from them goes directly into their savings space for their goal. 

That’s 6…and I’ve got 51 more action steps right here:

Weird but Effective Trick to Make Saving for Kids Easy

No kid savings plan is complete without this 1 weird saving money trick I'm about to show you. Teach children this at a young age, and, parents, you'll have set them up for massive savings success! #kidsavingsplan #children #ideas #money #parents | https://www.moneyprodigy.com/weird-effective-trick-make-saving-kids-easy/

Saving for kids comes a lot easier (adults, too) if they use this one, weird trick I'm about to show you.

There is power in naming something.

Naming something gives it a purpose. A place to focus an intention.

Savings accounts are no different when it comes to both needing a name and an actual purpose (which go hand-in-hand, by the way).

When a savings account lies around, unnamed, it’s this sort of blob.

Sure, it can grow. Sure, you can use it for goals as they come and go. But without naming it something that aligns with its purpose, the time it’ll take you to get to whatever goals you have will take longer – no matter if you’re a child or an adult.

Clarity is powerful, after all.

Leave an un-intentioned amount of money aside for too long, and suddenly it becomes the perfect amount to spend on a new video game, or absorbs a convenience-store candy section addiction.

Account money gremlins are a real thing, my friend. Whether you've got a kid savings plan or an adult one!

How to Guide Your Kiddo through the Savings Account Naming Process

I hope I’ve convinced you that that this naming thing? Is sort of a big deal. Getting your child to do it early means you’re setting them up for more savings success for the rest of their lives.

So, let’s get started with this mini-savings action step that makes saving for kids much easier.

Step #1: Set Up Somewhere for your Kid(dos)’ Money to Grow

The first step, of course, is for them to have an actual place to accumulate their money.

  • Don’t have a savings account open for them yet? I’ve got you covered with how to open your baby’s first savings account (whether they’re still a baby or waaaaayyyy past the pacifier stage. No judgment here!).
  • Not ready to do that? Then you’ll want to use a piggy bank of some sort. Here are 21 particularly cool piggy banks for your kid(dos).

Step #2: Help Your Child Identify their Savings Goals

Sit down with your child and ask them what their goals are for their money.

What do they want to buy soon? What do they want to buy later?

Hint: they might not know how to prioritize now rather than later at this point in their lives, and that’s where you can help them.

Your idea for the purpose of their savings account is probably going to be quite different from your child's. After all, you've been in this thing called the “real world” for quite some time now. You aren't wet behind the ears, and you know that life takes money.

So your ideas may be things they'll need to purchase in their teen and early adult lives, such as their first car, textbooks for college, college in general, etc.

Their savings goals? Well they might be a bit different than yours. More tangible and instant gratification-y like vacation spending money for the summer or a new video game that's due to hit the markets next month.

So, it’s best to find some sort of compromise. And if you’re just teaching your child how to save money as well as goal setting in general? Well then you should probably stick with a short-term goal until they grow their instant gratification muscle a bit.

Remember, you can build up to the long-term goals over time.

Step #3: Rename their Account or Piggy Bank with something Cool 

Once they’ve gotten clear on what they want to save for in the short-term (remember, start short, then go long), it’s time to come up with a cool name they can associate with the goal.

This name is one that gets them excited, and can pull them back into the process once they’ve lost interest in savings.

Here are some savings goal ideas, with a spiced-up version on the right side:

  • First Car Fund = Sweet Sixteen Freedom
  • Vacation Spending Money = Boardwalk Money (fill in wherever you’re going)
  • Textbooks = Astronaut textbooks (whatever career they’re interested in right now)
  • Video Game = Pokémon Ultra Sun Release
  • Toy = Stuffed Flamingo

How to Physically Name Your Savings Space with this Goal

How you physically add a name to your savings space (either savings account or jar) depends on where it is.

If you've got an actual savings account, then find it below + click for nicknaming instructions:

For us, I have my two-year-old’s savings account at CapitalOne360. At their bank, you can change the “nickname” of each savings account you own.

Here’s how I do this:

Step #1: Sign into the account.

Step #2: Click on the account you want to change the name to.

Step #3: Click “Add a Nickname.”

Step #4: Type in the nickname + click “save.”

Then if I want to change the nickname? I can do so at any time by clicking on the account that I want to change, and then clicking “Account Details.” There’s an option next to the “Account Nickname” to “Change Nickname.”

If you are using a piggy bank of some sort? Then you’ll want to write the new nickname down on a piece of paper and tape it to the bank. You can let your kids write the name + decorate the label however they’d like using crayons, colored pencils, glitter – the works! Whatever gets them excited about their new name + corresponding goal.

You + your child may not have considered the power behind naming savings accounts by the goal that you're trying to meet before. But I hope you’ll trust me on this one and take the time to not only set up a space for savings, but then name it based on either a short or long-term savings goal.

21 Cool Piggy Banks as Gifts for Kids

Cool piggy banks for kids to get them excited about saving money plus best piggy banks for toddlers. Heck, they might even accumulate some money instead of you finding it crumpled up in their jeans pocket!

The piggy bank. It’s kinda the first instrument/tool/resource you can give your kiddo, or your niece, nephew, grandchild, etc. to get them interested in saving money. But there are tons of kids banks out there. Which are the best piggy banks for kids?

Saving money for kids starts simply by giving them a place to accumulate their extra coins + cash. Instead of leaving a dollar here, $0.50 in their wallet, and finding money crumpled up in the corner of their bedroom…you can now give them a place to store it. In a kids bank!

And not only store it, but to watch it grow into something.

Getting a child interested in accumulating money can lead to some really cool outcomes later in their lives, such as them being able to fund their needs + wants + dreams.

In other words, by gifting them one of these unique piggy banks for kids below, you'll be able to pat yourself on the back down the road when you see them living their lives OUT LOUD.

Choose from one of the 21 unique piggy banks to get the kid(dos) in your life interested in accumulating money (or at least, not spending all of it as soon as it reaches their pocket — which for their age, is a solid start).

FYI: all prices below are estimates, as we all know how much Amazon loves to change prices as the seasons progress.

Pssst: ever wondered why people put coins into pigs, anyway? I mean, why not put coins into cows? Or dogs? Turns out they’ve been doing it for centuries. Check out the history of the piggy bank here so that you can add in a fun story to tell your kid(dos) when you give them their very own!

Kid Piggy Banks with Single-Use Savings Category

These piggy banks have one slot, and one opening to access the money from that slot (yes, gone are the days where you have to smash your piggy bank to get the money out. Could be a good thing, could be a bad thing…depends on how impulsive your little one is!).

Piggy Bank #1: National Geographic’s Glow in the dark moon bank

My 8-year-old, astronaut-obsessed self just got excited – this coin bank is actually made with real meteorite from outer space!

Piggy Bank #2: Pokémon Pokeball Kids Coin Bank

Did you ever give Pokémon GO a whirl? C’mon, tell the truth. I actually tried it out myself after hearing about it from NPR. After several duels in the bread + vegetable aisles at the grocery store, I threw in the towel.

For any little Pokémon fanatics in your life, this is the bank.

Piggy Bank #3: Frozen Elsa Piggy Bank

Fun little fact: my husband is in love with Frozen. He might not admit to it out on the street…but he is. He plays the songs for our little guy on his phone (and may or may not sing along with them).

Any other Frozen fans on your shopping list? Personally, I’m wondering how many coins will actually fit inside this Elsa doll.

Piggy Bank #4: Dog Mechanical Piggy Bank

Two things you need to know: this dog’s name is Bailey…and he eats spare change. Nice way to encourage your kid(dos) to put their coins “away”!

Piggy Bank #5: Emergency Money Bank

Want to start instilling the need for an emergency savings fund? This coin bank is a great conversation starter for that. Bonus: no batteries needed.

Piggy Bank #6: Elephant piggy bank

This elephant piggy bank is so cute, you might just want to scratch under his little trunk.

Piggy Bank #7: Jumbo Coca-Cola Bottle Bank

My grandparents had this two-foot tall Coca-Cola bank…and when they cashed it in after years and years of plunking all their pocket change into it, the total was over $800! Nice.

Piggy Bank #8: 4 Jumbo (20″) Tall Plastic Crayon Piggy Banks

What a cool way to categorize four different reasons to save your money!

Piggy Bank #9: Light Up Kids Railroad Standing Bank

Kid(dos) get immediate gratification when putting their hard-found coins in this giant bank, which lights up as if a train were passing each time a coin is deposited.

Piggy Bank #10: Owl Piggy Bank

Can I just say how super-cute this little guy is? I mean, who couldn’t help but want to feed him nickels and dimes?

Piggy Bank #11: Kate Spade Elephant Piggy Bank

Stylish + chic are the words I’d use to describe this Kate-Spade designed elephant piggy bank. Black and white, and would match any décor. Bonus: it’s so stylish that really, it’ll grow with the child.

Heck, I’d like to have this little guy sitting on my library-turned-playroom shelf!

Piggy Bank #12: Paint your own piggy bank

My favorite? The cow. I want to paint the cow! Probably has nothing to do with me growing up on a dairy farm. Nothing at all.

Piggy Bank #13: Digital Coin Counter Savings Jar

There’s a digital LCD screen display that counts and keeps track of the jar’s savings for your kid(dos)! And if they happen to raid the money-candy jar early, or if they want to add some bills instead of coins? They can work on some money skills by using the add/subtract button to report the amount. Another unique part of this bank is that you can just unscrew the lid to get out your cash. That could be a good thing…or a bad thing.

Piggy Bank #14: Cat Stealing Coins Bank

Soooo…there’s this cool cat who apparently likes to pop up and steal your coins when you place them on a certain spot. What kid (or adult, for that matter) wouldn’t try to place more coins on that spot (which happens to lead directly into savings)?

Toddler piggy bank, for sure!

Piggy Bank #15: Doctor Who – Tardis 12th Doctor Talking Money Bank

Any Doctor Who fans out there? Here’s an official Doctor Who product all about getting your kid excited to save their money.

Divided Piggy Banks (Piggy Banks with Sections to Save, Tithe, Invest, etc.)

Looking for a piggy bank that will allow your kid(dos) to divvy up their precious dollars into different categories, like tithing, spending, saving, and investing? These banks are for you.

Piggy Bank #16: Moonjar classic piggy bank

This award-winning savings jar allows kids to divvy up their money between saving, spending, and sharing. A Family Guidebook and Passbook are included, and the individual compartments can be taken out, or kept together in one bundle.

Piggy Bank #17: Legos-Looking piggy bank

Have a little person who is really into building blocks? This piggy bank will delight them. I like how the individual containers are transparent, which is one way to get your child to see their money physically growing (or declining, if they decide to use the funds early).

Piggy Bank #18: Fire Truck Coin Bank

My two-year old is obsessed with fire trucks. On a recent visit to PA where my family lives, he actually got to tour one! Which isn’t out of the ordinary, as my Mom’s side of the family owns a firehouse.

So this could be a great toddler piggy bank for us. The neat thing about this coin bank is there are four chambers for SAVE-INVEST-GIVE-SPEND, with four different exits.

Piggy Bank #19: Surfboards piggy bank

This surfing bank gives your kids the option to put their money in four different categories: spend, give, invest, and save. It actually made an appearance in Oprah Magazine’s Favorite Things section!

Piggy Bank #20: Smart Piggy Trio Bank

This is a set of three boxes with magnetic closures that cover your kid(dos)’ money needs for spending, saving, and sharing. Boxes can be stored together, or taken out as separate components. Also comes with a simple kid’s money guide.

Piggy Bank #21: Money Savvy Pig

I love how transparent the four chambers are with this piggy, one each for: save, spend, donate, and invest. It also comes with stickers to decorate each of the four categories with.

Now that You’ve Picked out a Kids Piggy Bank…

I want to give you a few more resources, as buying your kid(dos) or the children in your life a piggy bank is likely to peak their money interest.

  • Money Conversation Starters for Kids + Families: Don’t be surprised if buying your kid their first piggy bank helps start the money conversation. This is a good thing! I’ve got a free money conversation starter resource for you here that dubs as a fun family dinnertime game.
  • Creative Ways to Help them Fund their Piggy Bank: And how can you help fund your child’s new piggy bank? Well, I’ve got some creative ways to help you fund either their piggy bank, or their savings account.
  • How to Open Your Child’s First Savings Account: The next step after accumulating money in a piggy bank? Is opening a savings account where not only can your child accumulate money like in childrens banks, but they can grow it via the awesomeness of compound interest. Once you’re ready to open that savings account, check out my guide for how to open your child’s first savings account.
  • Savings for Your Child Now + in the Future: If your child is not really ready to house money in a savings account, then do this. Give them a piggy bank, then also open the savings account for them. Use this strategy to fund their savings account starting this holiday. They won’t miss at least part of the money, and you can be saving a hefty sum towards their future without them knowing it (at least until they’re old enough to appreciate it).

Unique piggy banks for kids | looking for cool piggy banks for kids? I've got 21 for you. Not only that, but read to the end for some resources for how to teach your kid to save money. After all, they'll be super interested in the idea once they see their new gift. #uniquepiggybanks #forkids #products| https://www.moneyprodigy.com/21-cool-piggy-banks-gifts-kids/

Family Dinner Games with a Money Twist: Everest Avalanche Dessert Breakout Box

Looking for fun family dinner games for kids (that ALSO teach your child how to save money)? Get my free printable: Dessert Breakout Box - Avalanche on Everest for a really fun reason for your kids to BEG to come to dinner tonight. | https://www.moneyprodigy.com/family-dinner-games-money-twist-everest-avalanche-dessert-breakout-box/

Family dinner games that will teach your kid a specific money lesson + have them begging to sit around the table? #MamaWins.

Mama Bears? You're about to reach cool-Mom status. Not only that, but your kids will actually want to sit down to a family meal tonight.

Why is that?

On my quest to figure out innovative + experiential ways to teach your kids about money, I've come up with an idea that takes the cake (or brownie, or M&Ms, or Heath bars…).

It's a Dessert Breakout Box (family dinner games for kids). And it's going down tonight, at your dinner table.

What does this have to do with teaching your kids about money? Well…they have to solve a money puzzle to actually break into dessert tonight.

What is a Dessert Breakout Box Anyway? Plus a Sneak Peek at the Storyline

Breakout boxes are pretty cutting edge in the education realm. Breakout EDU is leading the way with their idea to take an escape room − where a group of people get together and figure out puzzles to escape the room for entertainment − and bringing it to the classroom. They've got a stellar Breakout EDU kit, and then there are hundreds of challenges + adventures you can get to go along with it.

I mean, what kid (or adult, for that matter) wouldn't want to get their hands on one of these?

I'm feeding off this escape-room-turned-box idea even more by bringing it to your dining room table.

And the lessons your kids will learn? Are all about money.

Everest Avalanche Storyline (Sneak Peek)

There's an oxygen-deprived mad man on the mountain! Your kiddo is part of an expedition team who is stuck up at Camp 1 due to an avalanche cutting off their path. While they wait for helicopter rescue, they  notice that one of their teammates has gone a little crazy. In his oxygen-deprived state, he's heading UP the mountain instead of down. Even worse, he's boxed up dessert with a lock and set sneaky codes your kid will need to break in order to get dessert tonight. Not a good thing when your food supply is dwindling anyway.

In order to break into this box and eat the dessert, your kiddo will need to solve one of the three money puzzles included as part of this free printable. It's your choice which one (and feel free to use the other two for other memorable family dinner games)!

Pre-Work Overview + Details

Mama Bear, you get to choose from one of the three money puzzles that your child has to complete in order to break into their dessert box.

The three money puzzles are:

  1. Money Puzzle #1: Emergency Fund Balance
  2. Money Puzzle #2: Derailed Savings Plan
  3. Money Puzzle #3: Savings Account Purpose

You can pick by: divvying up a different puzzle to each child, choosing one puzzle for the whole family to solve, or by the money lesson you'd like your child to take away from the dinner table tonight.

Get the instructions + free printables by clicking to subscribe below:

How to Get Your Kid(dos) to Beg to Sit down to Dinner Tonight

Get your kid(dos) to beg to sit down to dinner tonight by leaking various hints throughout the day about what's going down at family dinner time tonight.

Such as:

:: Write on a kitchen chalkboard your dinner menu + “Dessert: Held Captive”
:: Watch the family-appropriate Everest DVD Beyond the Edge with your kids, and tell them their hint for tonight's dessert is in it
:: [Insert your own idea!]

Use this Dessert Breakout Box to add a second course to dinner the kids will never forget.

Savings Plan for Child – Catch All those Holiday + Birthday Cash Gifts Over the Years

Your kid savings plan: it starts this coming Christmas or even on their birthday. Plus I interview 8 moms (1 father) who have been using this method since birth, and they reveal how much savings their child has accumulated. Money challenge met! Savings plan for child. | https://www.moneyprodigy.com/savings-plan-for-child/

Potty trained. Check. Kid Savings plan for child. Check (at least after today!).

I want you to say this with me, Mama Bear:

“From this holiday and birthday onward, I will set aside 50% of each of my child's money gifts into their savings account.”


Making this one commitment will change the money course of your child's future.

Yes, they might whine at you.

Yes, they might have their hearts set on something to purchase in a store with that money.

Psst: I did say 50%, not 100%, for this savings plan for child. So they could certainly still spend some of the money on themselves. Otherwise this savings plan for child might fail!

But when they turn 18, and you can hand over a savings account with (potentially) several thousand dollars in it − made up of $5 here, $25 there − they're going to be über grateful that you did this for them.

Why? Because it’s textbook money for college. It’s first-apartment-deposit money. It’s car money. Wouldn’t you have loved it if YOUR parents had handed an account over to you with several thousand dollars in it before being thrust out into the real world?

8 Actual Parents Who Have Been Doing This + How Much It’s Reaped for their Kid(dos)

I started doing this kid savings plan myself – at 100% contributions of any cash gifts we receive ($110 so far! We'll likely decrease the percentage once he figures out how a store works) – starting at our little guy’s birth. But he’s only 21 months old, and I want to know how this will play out for you (and me!) over the years.

So, I found several mothers who had started doing this when their kid(dos) were very young to see how it’s turning out for them.

After posing this question in several different Facebook Groups, I found that among 8 different families, the range of savings accounts from using this method is between $850 all the way up to $20,000! In other words, from covering two semesters’ worth of college textbooks, all the way to several semesters’ actual tuition cost.

Here’s a breakdown:

  • Jill (*name changed) daughter, 11: $850 in a savings account thanks to employing this method.
  • Jane (*name changed) son, 13: “What I have done with him is every time we go and see my parents for the last several years, when my Dad gives me $50, I set it aside and put it into my son’s bank account. I take him with me when I do this. I’m custodian to his savings account, which has about $3,500 in it right now.”
  • Ryan Inman, son, 2: “Contributions from grandparents towards college has been the primary reason for opening the account. Most of it makes it to the 529, some saved here for other investments. My son turns 3 in sept and has 12k in it. Started the account a few months after he was born.”
  • Jesse M Fearon, children aged 19 months, 4, and 5: We’ve had savings accounts for them “since they were born (well, since we received their SSN numbers in the mail after they were born). It's just a simple savings account but we deposit all money in that account until they are 3, then the rule is they can keep the cash (if it's less than $10) and any checks are deposited into their savings account. We don't give our children birthday gifts, instead we deposit money into their savings accounts for their birthdays. Our children are 5, 4, and 19 months old. Our oldest has the most saved since he's been around longer, but all of our children have over a $1,000 in their accounts.”
  • Holly Porter Johnson, 6 and 8: “I've been saving my kids birthday money since they were babies. I add it to their 529's. They each have around $10,000 And they're 6 and 8?.”
  • Emma Healey, son, 5: “My 5 yr old has $2800. I bank all the gifts his grandparents send over. They live in a different country so always send cash and tell me to buy something nice for him but instead I buy him a $1 toy from the thrift store and bank the rest.”
  • Lee Huff, 2 and 6: “We started saving $100 a month in a 529 in my name for each child when we found out we were pregnant. Then we transferred the money into their names after they were born and had a SSN. Instead of birthday gifts, we ask people to contribute to their 529 instead. They're now 6 and 2 and have a combined $20,000 in their 529s.”
  • Robert Farrington, 9 months, 3: “We have two kids, one is 3 and the other is just 9 months. We've put every cash gift they've ever received into the account. My oldest, at 3, has $1,700 in their account. My younger one has $1,000. We plan to continue to save all their cash gifts this way.”

Wow. Inspiring, right? Remember that when it comes time to hand over these accounts to the kids (who won’t be kids anymore, but very young adults), they’re not going to remember that toddler-sized Elsa doll they weren't allowed to buy with their money, or the latest video game they would have conquered in a few weeks anyway. They’re going to be super grateful to have had a mother with the foresight to know their child was going to need money to start their adult life. Besides, saving money for kids could also help steer them away from a paycheck-to-paycheck mentality. Your savings plan for child starts today!