Money saving is crucial is to good money management and we need to get our kids saving young. Good habits start young after all. We also need to lead by example.
A new survey has revealed under 70%of homes have loose change lying around the home that never makes it to a savings jar. This equates to about £60 per household which in total is £1.5 billion in the UK! Coinstar have just launched a campaign in light of this called Dust off your Pennies. It is about encouraging us to seek out all that loose change hiding in pockets and handbags and under sofas. We all have that don’t we?
Sarah Willingham, money saving champion, who is supporting the campaign is all for getting the kids involved in money saving and suggests setting them the task of searching down the sofas and filling up the piggy bank. Making them think of saving as fun is important.
They will LOVE collecting up their spare coppers and finding out how much they have managed to save, especially when they can turn their pocket money into goodies! Coinstar is a great way to find out how much you’ve managed to save!” (if you haven’t heard of Coinstar keep you r eyes peeled the machines are all over the place..they are self-service, coin counting kiosks. All my local supermarkets have them.)
I personally love using Coinstar, pouring in all those pennies and getting a little slip saying how much I have saved and have to spend. It’s almost always more than I think the kids think it’s great fun they like all the noise and being able to treat themselves when its all added up.
Sarah has loads of tips for making money saving fun for kids …take a look at these
Set a challenge – get the kids to go on a hunt for loose change, check backs of sofas, drawers, floors and pockets. Then get them to count what they’ve found and pop into a savings jar or piggy bank. A recent survey by Coinstar found that 70% of households have loose change lying around the house that never makes it into a savings jar. Kids will love collecting up the spare coppers and finding out how much they’ve managed to save, especially when they can turn their pocket money into goodies!
As the kids get older, you’ll find that you have lots of unloved toys lying around. Encourage the children to pick out the toys that they’ve grown out of, in addition add to this any household bric-a-brac and host a car boot sale. The children will love pricing up the items and selling them to the neighbours or passers-by. They’ll also love counting the money they’ve earned at the end of the day and popping it into a savings jar ready for spending.
When it comes to things like Christmas, Father’s Day and Mother’s Day, get the kids involved in making cards and gifts. It is GREAT to show them that you don’t need to spend a fortune to give someone a thoughtful gift
You might decide to reward your children with monetary gifts when they do jobs around the house or achieve something at home or school or you might want to encourage them to save their tooth fairy money. Anything that gets you talking about money and its value, and why people go to work is a great grounding for their future
And of course, the old-fashioned piggy bank is a no brainer. Each of my kids has their own money box and we always have fun counting out the coins before our holidays and then they are allowed to choose how they spend it once we are away.
To find your nearest machine, visit www.coinstar.co.uk/coinmachine and pop your postcode into the handy machine locator.