April 19, 2012

Teeter Totter Piggy Bank - Saving Rocks!

Teaching your children both the value of a dollar and how to save that dollar rather than spend it is one of those very important lessons that all parents need to do.  Instilling this concept in your kids from an early age will likely make a huge impact on them in the future and mold whether they become careful financial planners or carefree over-spenders. 

I'm sure you can guess which camp our Mommy Testers hope to have their kids categorized in!  SO...when we found the Teeter Totter Piggy Bank we were pretty excited.  It consists of 2 semi-opaque white pigs on a teeter totter. It's quite adorable and would make a neat little decorative piece if nothing else.  Here are a few ways we decided to use it.

Method 1:  Start a Battle of The Savers

This method offers some (mostly) friendly competition.  If you have 2 kids then you can let them each choose a side on the Teeter Totter Piggy Bank and compete to see who can save the most over a period of time. If you give your children a chore-based allowance payment then you can bet they will be vying to see who can do the most chores and tip the scale.  Our Big Kid Testers got pretty competitive over this one.  When you have kids saying things like "No, it's my turn to pick up the dog poop" you know you are on to something!

Method 2:  Go Halfsies

This method is a kiddie approach to a 401k.  Your child makes contributions to their piggy as they earn money through chores, allowance, gifts etc and along the way you match whatever they save in the other piggy bank.  It's exciting for the kids to see their savings growing rapidly and provides extra motivation to keep saving knowing that you will do it along with them.  We love this method to save for larger items or specific purchases that you endorse. 

Method 3:  Family Swearbox - Kids vs Parents or Mom vs Dad

One of our Mommy Testers has a swearbox in her house.  Every time mom or dad says a bad word they have to put a dollar in the box.  The Teeter Totter Piggy Bank keeps track of mom and dad and makes it clear who the repeat offender is that taught junior too many 4 letter words.

Hopefully your children do not go running around shouting bad words,  BUT if you're having a moment of behavioral chaos in your home then this approach might be more effective than time outs or reprimands.  When kids see their hard earned money go bye-bye they will shape up pretty quickly!

The money you collectively save can be used like our Mommy Tester and put toward adopting a family in need when the holidays roll around.  We think it's an awesome way to turn a negative into a positive!

The Teeter Totter Piggy Bank is European (like most of the good things in life) and we found it in a San Diego toy boutique called Gepetto's. We also found it online for about $18 on Amazon.com right here: Teeter Totter Piggy Bank

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