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Piggy Banking for Adults

The years bring in a whole lot of wisdom. Some of these lessons are learnt in Chemistry class. Others are studied only when the exams arrive. Yet other lessons are learnt outside our classrooms. We learn to be less irresponsible and more reliable. We learn to stop throwing tantrums and behave sensible. We learn the importance of being earnest. We understand the need to be honest and to be a person of integrity. We are made to learn many lessons. Among these is the one where we learn about the value of money.

Remember our enthusiasm in finding and placing coins in piggy banks of various shapes and sizes? Birthday gifts from loving uncles and aunts traveled into the piggy banks, as did the earnings from different errands that we ran. Coins and notes that we stumbled upon on the way also found their way into the piggy banks. After days and days, only when the piggy bank got heavy, did we finally decide to smash it. Then we spent hours thinking of the things that we would be spending the money on. We wanted to get the most out of it. I think that is how a lot of us learnt about the value of money.

If you are instructing your little boy/girl about the importance of money, and he is a little big for piggy banks, get him a savings account. It is a good way to give your child an appreciation of the value of money. Put some money in the savings account, give your baby a passbook, and watch him start planning his finances in the early years. This will be a much better bet than yelling at your child for having no idea of the value of your money. He will have no idea of the same if you do not give him a fixed budget. If you continue to complain, and simultaneously indulge him with the most expensive gifts, this is a lesson that your child shall never comprehend.

How do you find a good enough savings account for your child? Now, that should not be a problem. Banks everywhere are keen to get younger and younger customers. “Get them young”, as they say. This is the age group that they are currently looking at so as to build brand loyalty. Do some research to find some good savings account plans for children and select the one that seems like the best choice. Not only will a savings account teach your child the value of money, but it will also be great value for your money.

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