Now that Campbell is 2 and more likely to mouth off at me than to put foreign objects into his mouth, I thought he might get a kick out of playing with Charlotte’s old play cash register. He loved lining up the “coins” in their proper spots and pushing the right button to make them disappear into the drawer.
Unfortunately, you can’t earn interest on primary-colored coins.
But he had no idea this was about MONEY. It was just a game.
My first lesson in what money meant was in first grade, when we had our bank books. Remember those? But even by participating in that savings plan, I don’t think it really dawned on me that fifty cents, every two weeks, noted in this little book, was valuable. I didn’t get excited about scribbling the amount in the ledger. It was just more number-writing practice, to my six-year-old self.
But now there’s a way little kids can understand how money works…for them.
PNC Bank’s “S is for Savings” is an easy online banking experience that allows parents and their kids to set goals for saving, sharing and spending.
There are no service charges for account holders under 18, and interest is earned on balances starting at just $1.
You just need an internet connection and a lap, since it’s designed specifically for parents and kids to use together, sparking conversation about money.
With Campbell, the extent of our financial discussions go a little like this:
Campbell: “Me ride skateboard.”
Me: “We don’t have one.”
Campbell: “Mommy buy.”
Not so fast, kid.
PNC’s “S is for Savings” feature is designed for young children up to age 8. It allows them to set goals and track their progress in a fun, visual environment, complete with sound effects and animation. Kids can easily see how much money they have and literally drag and drop their money into jars, which represent how they want to divide their money. For Campbell, he would need a jar for “Machinations of joy-riding that will cause my mother acute anxiety including, but not exclusive to, skateboards.”
There’s also online allowance. Parents can transfer money from their own account using an “auto save” feature. If the kids have cleaned up all their cash register coins, of course.
“S is for Savings” can offer guidance for parents and caregivers to help young children create strong financial habits from a very early age. I love that PNC has created a learning tool that not only teaches kids the value of money, but enrolls their guardians in a way that strengthens the family bond since it’s an activity we can do together.
Log on here to get a demo and learn more:
How are YOU teaching your kids about money?
I was asked by PNC Bank to write this sponsored blog post. I would not partner with any sponsor whom I didn’t feel had a quality product my readers would be interested in. I will continue to be a trusted resource in the blogosphere and only agree to write sponsored posts that are in line with my own best practices as a parent.