Two years ago I set out to make a chore list and an allowance system for my kids, and it fell flat! I would forget to pay them, we would both forget they had chores to do, weeks would go by before I would get back to the system and then finally I just gave up!
Recently, I decided to try again and this time I am meeting with much success! At the end of each week my kids collect their allowance for the things they have done around the house. At 5, 7, and 9 my kids are starting to learn and truly understand the value of money and how to use it wisely!
Their money is divided into 3 categories and they have a little container for each. Every week they evenly distribute their allowance into their 3 containers marked tithe, save and spend. When they really want a toy they use their spending money, when they want to do something extra special or put money in the bank they use their savings, and when they want to give back they bring their tithe money to church.
April is National Kids Savings Month and my little love and I took a trip to a local Boiling Springs bank in Florham Park to learn more about what they offer to kids 18 years and under to help them grow their savings!
When you enter into Boiling Springs Bank it instantly has the comfortable feel of coming into someones home. The cozy couch, warm colors, smiling bank teller, and a dish of lollipops ready to be scooped up by little hands is what greets you! My little love makes herself right at home with a lollipop and some Boiling Springs Saving Bucks!
The bank manager Mark greeted my little love and I with a smile and a firm handshake and invited us to have a seat and learn more about what they offer!
We learned about this community bank that reaches out and supports the town. Their saving plan for kids is amazing, and they offer different events throughout the year that allows kids 18 years and under to grow their savings!
For your first $10 deposit into your saving account they give you another $10! They offer coloring books, and piggy banks as well when you open up a savings account. This community oriented bank goes the extra mile for their customers both big and small!
I showed my kids this {video} to show them what they can expect when we go to open their savings account! When your kids sign up for their savings account they will receive this great coloring work book that walks you through great activities!
My kids are excited to watch their money grow as they work hard to save, and with the help of Boiling Springs Bank the saving will be easy and fun!
I am always looking for other great ways to teach my kids about money! Share some tips on how you teach your kids about money!
