Specifications:

• Help your child form a good saving money habit with this piggy bank
• The piggy bank with magic design can store as many as 100 coins
• Magic piggy bank can impress you that it can turn your coins into smaller one
• This piggy bank is the perfect children's gift
• It not only teaches the importance of saving money, but also keeps the kids busy for hours
• Personalized piggy bank is also a fine ornament on the desk or table
• Dimension: 11.8 x 7.9cm/4.7 x 3.1in(L x W)
• Color: Black

Details:

• The inside view of this money box is quite unique and can store your coins well 

• The whole design of this piggy bank is quite simple but beautiful

• The space is not so big but there is a miniature space which can hold your money together

• You can get the money by opening the back of the piggy bank

• The lovely star and panda picture is quite stylish and make your child interested

How to Teach Responsibility with a Piggy Bank:

• Give your child one of several types of piggy banks available that have different compartments. This modern take on the classic piggy bank is an excellent financial teaching tool because it allows children to separate funds into separate compartments in the bank for saving, spending, investing and donating. Another option, instead of a piggy bank with compartments, would be to use glass jars that are labeled for different uses; cut holes for the coins to fit through into the lids
• Determine how much allowance to give your child and stick to it. Try giving them a monthly allowance rather than a weekly one. Giving them a consistent amount per month will teach them how to manage a specific amount of income over a long amount of time. This monthly "payday" replicates the paycheck adults receive for going to work. As they get older or chores increase, they may earn a "raise." This will teach them the value and benefits of hard work
• Discuss monthly expenses with children. Help them determine how much money they actually need per month to meet their basic needs. Obviously, they live at home so they don't have rent or bills, but they should consider other expenses, such as snack and lunch money, toys, video games and other items, they may want to purchase with their own money. Once monthly needs are determined, deposit this money into the compartment of the piggy bank allotted for spending
• Discuss the future. It's never to early to start thinking and planning for future expenses like school trips, dances and college. Decide how much money the child needs to save for future expenses. Once they have agreed on an amount to be saved, place this money in the savings compartment of the piggy bank
• Discuss investing with kids. Allot a specific amount of money to be reserved for investments, such as CDs and savings bonds. Teach them to invest in their future and place that money in the investing section of the piggy bank
• It's never too early to teach children to be charitable. Discuss charitable organizations in your community that will accept your child's donations. Your church, the Salvation Army or the local soup kitchen are possible options. Once your child decides how much money he wants to allocate to charitable donations, deposit those funds into the donations compartment of the bank
• Be consistent with the amount of money designated to each category. Don't allow children to "borrow" from one section to give to the other. If they feel they need more spending money, then suggest ways they can take on additional responsibilities in order to increase their monthly allowance. But make it clear that if their allowance increases, the money allotted to each section of the piggy bank will increase as well
• Teach your children to work within a budget. Their potential to overspend the money allocated for spending will decrease if you help them create a budget that includes all of their monthly needs. Include incidentals, such as going to see a new movie when it comes out or buying the cute outfit they saw at the store. Account for everything that could possibly come up in the month, and that should help them be prepared to spend their money wisely until their next payday

How to Teach Kids to Save with Piggy Bank:

• Introduce the concept of choosing to save your money vs. spending it right away. Show the child the difference in prices among the toys he wants to encourage his drive to save. Tape a picture of the item your child is saving up for on the piggy bank to help remind him why he is dropping money inside instead of giving in to the temptation to spend it
• Communicate with your child that the picture taped to the piggy bank represents her personal goal. Tell her that no one is making her save the money in the piggy bank and that it is entirely up to her whenever she chooses to add more. Explain how even the smallest "donation" to the piggy makes a difference in the end
• Comment on the piggy bank every so often to remind your child it is there. Children do not have a solid sense of long time frames and could be easily distracted from remembering their savings. Use subtle comments rather than ones that are directly related to the child saving money to keep the child from feeling as if he or she is complying with some sort of pressure to save

Package Included:

• 1 x Piggy Bank