September 20, 2017

Teaching Your Children to Save - the Benefits

Marshmallows photo by Smith609

Ever heard of the Marshmallow Test? You should read it up – it’s quite eye-opening. This was a test conducted on young children in the late 1960s/early 1970s. What’s significant about this test was its ability to, by the results, show which children were more inclined to be successful in life (the children were checked up on later in life). It led to discoveries about delayed gratification & its significance for eventual life success. Children who are able to delay their gratification demonstrate a striking array of abilities over their peers in later years. Abilities such as higher SAT scores, social competence, self-assuredness & self-worth. And further down life's lane, they were less likely to have drug problems or other addictive behaviors, get divorced, or be overweight.

So are people born with this trait, or can it be taught? Luckily, what’s great is that children (and adults🙄🙄) can be taught how to get into the practice of delaying gratification through willpower & self-discipline.

One of the active ways that parents can guide their children into this self-discipline lifestyle is by teaching & enabling them to save money using a Savings Box (Piggy Bank). By themselves. This is different from the account(s) you set up and fund for their future. This one entails letting the children get into the discipline of putting their money away now so they can reap greater benefits in the future.

We started this for our children and are already seeing the benefits. A few friends who saw the box asked us to create this for their children too, and we thought – “Oh – this could be a thing.” Pictured below are our Savings Boxes from Red Acacia. We made it functional, yet beautiful, so it fits in as décor too. And the children love it! (And adults too).

So go ahead – Get disciplined!

Purple Savings Box from Red Acacia

Wooden Savings Box from Red Acacia