My husband and I made the decision early on that we would open a savings account for each one of our children on their second birthday. I had a savings account growing up and it gave me a real sense of pride every time I made a deposit – even if those deposits were sometimes $1.75. I think that saving money provides older children with a better understanding of the value of a dollar, and it’s never too early to start that understanding.
It all begins with a basic piggy or savings bank. Gifts from family or friends as well as your own loose change can be ‘deposited’ in the bank. Once the money builds up you can head over to your local bank to pick up coin rolls to roll up the loose change before making the deposit into your child’s account. Kids love to help with the coin rolling as they get older! It has become a favorite pastime for my two girls.
Our very own Becka Robinson, who also contributes here on Disney Baby has fond memories of her first savings bank:
“I still remember mine. It was silver and looked like a merry-go-round. My dad would stick dollar bills in it and I’d think that the bank was magical to turn my coins into dollars.”
So very lovely! My first savings bank was a replica of a Canadian post mailbox. You would deposit the money in the letter slot and then empty it by removing the plug from underneath.
Whether you choose a mailbox, a shoe or the classic piggy, your child will thank you in the future for thinking of their finances so early on. Here are 5 adorable savings banks that I think are just perfect for babies.
Old Copper Baby Shoe Bank
Baby Shoe banks are a sweet alternative to the piggy and are a charming decorative piece that looks great in your baby’s nursery. Although you can find these pretty much anywhere, I prefer the vintage ones like this copper bank made in the 1950’s.
Chalkboard Piggy Bank
This chalkboard version is probably one of the most unique ‘piggy’ banks out there. You can write, draw or doodle ’till your heart’s content and then wipe it off with a damp cloth. As your child gets older they too can customize it according to their own preference.
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