I received a complimentary set of Dave Ramsey Junior Banks in exchange for an honest review. All opinions are my own.
Teaching kids how to save, spend and share their money is an important lesson that will follow them throughout their entire lives. Dave Ramsey has been one of the biggest leaders in helping people learn to budget for many years now. A few years ago, he introduced his lessons to children through the “Junior’s Adventures” series. Jacob loved the series because the kids faced money situations that he actually understood. Things like budgeting so you had enough to spend at a carnival and what to do if you find money that doesn’t belong to you. Last year, we checked out Dave Ramsey’s The Best Christmas Ever, which teaches kids important lessons about being grateful and sharing their good fortune with others who may not be getting anything for Christmas.
This year, Dave Ramsey introduced his Junior’s Smart Saver Bank. Kids who are fans of the series will love saving, spending and donating just like Junior does. The trio features a color-coded bank for each of the three ways we should use our money. One bank helps kids save up for a big purchase, one allows them to put money away for immediate spending and one encourages them to save up to give to their favorite charity. I was so proud of Jacob when that was the first bank he put money into! I remember in first grade, he gave almost all of his change (and there was quite a bit!) to a fundraiser he had in school to help sick children.
What I love about these banks is that they are simple. They’re made of strong plastic and visually appealing with the colors, but they don’t have any extra bells and whistles. They have one purpose- to help kids learn how to manage their money. I think the fact that they don’t have any fancy features is a lesson in itself. Money doesn’t need to be saved in a bank that counts for you or sings a song when you pop a coin in. Those extras actually cost money, right? So giving children a very practical solution is a great way to teach them that even the things we use to hold our money can help us save more in the long run. Plus, they’re see-through, so kids can really watch their money add up! The plug is also really easy to pop on and off, which pleasantly surprised me.
Tips to use the Dave Ramsey’s Smart Saver Bank during the holidays
Want to start the lesson early? Give your children the banks as a Thanksgiving Day gift to kick off the holiday season. Then, use them to:
- Donate to your child’s favorite charity. Sit down with your child and talk about all the charities out there that help provide holiday gifts to children who otherwise wouldn’t get any. Choose a favorite, like Toys for Tots or Operation Christmas Child. Help your child save up to donate by adding your own spare change each day.
- Save up for holiday gifts. Every year, I buy something for my mom from Jacob, but I also give him an allowance to spend at Kids Go Shopping day at his school. He gets to pick out something special for everyone in the family. This gives him a great sense of independence. Help your child set a spending budget for those he wants to buy for, then encourage him to save his money. When he reaches his goal, take him shopping and let HIM pick out the gifts. Do not intervene! You may not think that grandma needs another pair of slippers, but it is important to let him choose the gift.
- Set aside for personal spending. During the holiday season, Jacob is forbidden to spend his money on toys because I don’t want him to buy something that I already bought. Still, we go to a lot of different fun holiday events. Sometimes we even head into New York City for a day of walking around and taking in the holiday sights. Let your child set aside some of her money for events like this.
Buy the Junior’s Adventure Smart Saver Bank set at DaveRamsey.com for $14.95. If you don’t already have the Junior’s Adventures books, I highly recommend getting the Kid’s Monster Pack! It comes with Financial Peace Junior, the NEW Junior’s Adventures 6-Disc Audio Set, the 6 Kids Books Boxed Set, the Smart Saver Bank, and a tote bag. Check out Dave Ramsey on Facebook and Twitter to keep up with news.