Having children of our own now, we find it important to make them aware of what money really is and how saving it is more important than spending it. We want them to know the value of a dollar and how saving has rewarding benefits.
It is important we prepare our little ones with lessons that they can carry into their futures. For our 7 year old we started a piggy bank with her years ago. She has saved up quite a bit and used some here and there to buy things she really wanted. But with technology ever changing it would be neat to show her online banking and PNC has done it by creating their ‘S’ is for Savings online program.
In a Time magazine article in January 2010, researchers said that financial education should start early, so we feel that we have been ahead of the curve.
PNC’s new interactive website was designed to give parents and care givers a way to teach young future consumers a way to learn and practice saving, spending and sharing. By helping kids set goals with an online interactive way to track savings with sounds and graphics, kids can have fun learning to become fiscally responsible adults. They can see how much they have saved and separate their savings into virtual jars to see how they can distribute their savings.
And for those parents who like to take it a step further by teaching their children how to earn money such as with an allowance, parents can transfer money from their own account.
It is a neat little online banking feature for kids. Cookie monster will help your little one decide what they want to do with their money. Cookie monster shows much money they have available for savings or sharing or to put in your spending jar. They can move money to their savings jar to help them figure how much they may want to save for future purchase goals like buying a new Lego set, game, or anything they want to save for. The sharing jar is great to help them think about how they could help and share their money with things that matter to them like an animal shelter, kids who need help, or maybe even their school.
There is a Learning Center that has lessons to teach and read aloud with your little on how to:
- Learn about the Three Jars
- Learn about Saving
- Learn about Sharing
- Learn about Spending
- Learn about Needs and Wants
- Learn about Helping
- Learn about Earning
- Learn about Waiting
- Learn about Value
- Learn about Choices
- Other Money Questions
If you’re looking to teach your kids important money lessons, PNC has created a great way to teach money tips and at the same time online banking. The ‘S’ is for Savings account can be opened in any PNC branch, through their call center, or online. PNC plans on distributing 1 million kits which include a Sesame Street DVD and activity books with more materials online. There are also bilingual options if needed. Contact PNC for more information and to give it a try.
How do you teach your kiddos to save?
This is a partnered post and we were compensated but we really believe that teaching our kids to save is important.