Following a lengthy pandemic and with Covid restrictions having impacted everyone’s pockets, many people are thinking of ways to save money. While kids might not be experiencing the same financial revelations, now is still a great opportunity to teach them all about the value of saving up for the things they want – and how to do it.
A money bank with a difference
Pot of Dreams is different to traditional money banks and piggy banks. Instead of being able to access the cash you save any time, you have to smash the pot open to get to the contents.
Not only is this tons of fun for kids (and adults!), but it also means you have to be really sure you’re ready to buy before you get to your savings. This in turn helps kids understand their financial destiny is in their hands and will give them a goal to save towards, as well as the promise of a reward for their patience!
Choose a favourite design
There’s lots of different designs to choose from, so kids will always be able to find something which matches their personality. Pot of Dreams’ look great on display and make amazing gifts for landmark birthdays or celebrations.
Because of their highly decorative nature, kids can save into them for months (or years) and never have to worry about their money bank going out of style.
Tips for helping kids save
Like all new savers, kids might need a helping hand when they first start to ‘invest’ their money in a Pot of Dreams. These tips can help you to motivate them and show them the importance of money!
- Brainstorm their saving goal
Having a clear goal to save towards will help kids stay on track and prevent them wanting to break into their Pot of Dreams too early. You can make sure they know what they’re saving for, by brainstorming a few ideas with them.
- Set a sum to save
Once kids know what they’re saving for, it’s time to find out how much they need to save! This will also help them to stay on top of their savings target and keep them on track.
- Encourage and motivate
Whether kids are saving into their Pot of Dreams using pocket money or their income from a first job, you can help to motivate and encourage them by letting them know how proud you are of their saving habits. You could even invest in more than one Pot of Dreams, helping them to achieve more than one dream.