Smart Money Habits Can Start Young

Since when did three quarters become worth more than a $10 bill? When you have a two and three year old! My children cannot contain their excitement when they see change. A few coins are more fun than paper money! Pennies, nickels, and dimes are all called “quarters” in our house, and none have more value than another.

Throughout each year, my husband and I have given them all of our extra change and a few bills to put into their shared bank that I made during my first pregnancy. Each coin is put in the slot, one-by-one, and with such care. When their pile of money is gone, their little faces light up! At the end of each year, we visit the National Road, Edinburgh, or 26th Street Centra branch and dump all the coins into one of their coin machines. The best part is I don’t even have to wrap them! Then I divide the total in half. One half goes into Parker’s account and the other half into Alexis’ account.

We’ve used coins to reward good behavior, for picking up books and toys, while potty training, and so much more. Not only does this get us away from rewarding with candy and snacks, but it gets them in the habit of saving their money. My hope is that when they’re older and they acquire money on their own, their first thought is, “I need to put this in my bank!” rather than wanting to spend it.

Instilling these behaviors at a young age is imperative to producing the good behaviors we want them to exhibit as an adult. It’s never too early to start saving!

Maggie De La Rosa

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812-314-0228