Piggy Back
Posted in Uncategorized on 07/25/2008 09:40 am by admin
Piggy Back
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Why Piggy Banks Fail to Teach Wealth Habits to Kids
We've all done it. We have a young child or grandchild and we think, "Let me buy him/her an adorable little piggy bank that they'll love and feed, and then the child will grow up and understand the value of a penny saved is a penny earned."
It sounds good. It makes sense. It should work. But, it doesn't. Why not? Because piggy banks teach negative, dysfunctional and counter-productive money beliefs, that we just do not fully realize or comprehend until we're into our busy 20s, 30s, 40s and 50s and trying to raise a family. These "piggy bank habits" are completely contrary to "wealth habits."
What are some of the negative and very limiting money beliefs that piggy banks teach? Let's take a look:
- Put all of your money here in one place
- Let it sit there being useless
- Ignore this bank, ignore your money
- When you want your money, then you must dig, scrape, bang, and break into the bank to get to it to use it
- If you want to count your money, you must dig, scrape, bank and break into the bank to get to it to count it
- When you do finally get to your money, you may find that maybe you have enough, or maybe you don't - it's a wild guess
Think about this:
Would you like to run your household finances with these beliefs? What if someone told you that you had to manage your household finances in this way?
You would tell them, "You're crazy!" This system would result in complete frustration, chaos, aggravation and dysfunction if it were applied to your household finances.
In addition to teaching negative money beliefs to our children, piggy banks are completely impractical and "disrespectful" toward today's money. Piggy Banks may be cute and adorable, but they are completely lacking in the basics that a bank needs to allow us to work with our money and to allow money to work for us.
Ever try to put a coin into a piggy bank after it's been jammed with the birthday gifts of $5, $10, $20 and $50 dollar bills? Ever try to put one of those bills into a piggy bank's little slot?
Piggy banks teach disrespect for large sums of money, and for the currency in general. Piggy banks teach children to just crumple money into a little ball and shove it in. As good parents, we teach kids to make their bed, fold and hang their clothes neatly, keep their homework organized, but, when it comes to money, the piggy bank teaches kids to just crumple their money and shove it in.
So, then, why do we train up our children to deal with money in a manner that is destined to fail for them when they try use it as adults?
The answer is simple - because that's what we were taught as children, and that's what is marketed to us. We do have choices. One of our choices is to do something different, and thus, to teach something different about money to our children.
We can choose to set up banks for our children that teach:
1. Separating money into compartments for different uses
2. Investing - so that your money makes money for you
3. Donating - so that your money can help others improve their lives
4. Spending - in an amount that fits within a budget and a plan
5. Saving for Big-Ticket Items - so that large expenses are planned for, rather than a surprise
6. Taking care of the physical money well - with a neat (and fun) place for coins and bills
7. Counting money regularly to mark progress toward goals, and to make decision making easier
8. The concept of Return On Investment (ROI) - which even many adults don't yet know
9. Compound Interest - which many adults know, but don't yet full understand
10. Wealth Habit Muscles - if a child regularly works with a 4-part wealth-building bank (instead of a piggy bank) when he/she is young, then he/she will have a strong wealth-building muscle when he/she becomes an adult (instead of the debt and rat-race muscle that is so prevalent today)
Piggy Banks - cute small silent insidious programming devices with huge negative debt-ridden consequences. Your mission as a parent is to disable the device and replace it with a tool that builds wealth and character. Now you are armed with insightful information that enables you to take the action you need to raise wealthy kids - even if you're not wealthy (yet)!
(c) Copyright Theresa A. Markham, Esq.
About the Author
Theresa A. Markham, Esq. is the author of The Kids' Bank Book: How to Teach Wise Money Management to Your Children with Fun, Ease, Smiles and Laughter, and offers the Book and other info about raising wealthy kids at www.KidsBankBook.com. She donates 10% of The Kids' Bank Book net profits to Champ House.
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Piggy Back $24.99 Piggy Back - Photographic Print |
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Piggy $6 Piggy |
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Uppa Baby Piggy Back Ride Along $89.99 Uppa Baby Piggy Back Ride Along |
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Vintage1940s National Piggy Back Amp Blnd $750 In Store Used VINT 1940S NATIONAL PIGGY BACK AMP BLONDE |
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Vint 1940S National Piggy Back Amp Blonde $750 In Store Used VINT 1940S NATIONAL PIGGY BACK AMP BLONDE |
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Nature Wonderland: Piggy-Back Baby, 1970 $34.99 English School Nature Wonderland: Piggy-Back Baby, 1970 - Giclee Print |
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A Loon Chick Rides Piggy-Back on its Parent $39.99 Michael S. Quinton A Loon Chick Rides Piggy-Back on its Parent - Photographic Print |
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Young Boy Giving a Baby a Piggy Back Ride $79.99 Carl Mydans Young Boy Giving a Baby a Piggy Back Ride - Premium Photographic Print |
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Uppababy Vista-0062 Vista Piggy Back $89.99 "Uppababy Vista Piggy Back Ride Along Board Brand New Includes One Year Warranty, The Uppababy Vista-0062 is piggyback ride along board that lets your toddler tag along the ride. All you need to do is to simply attach it to the back of your VISTA stroller. It is perfect for a second child who may need a break. Vista-0062 Features: Piggy Back Ride Along Board, Easy To Install, Quick Snap On & Off Attachment, Easy Fold Up When Not In Use, Non-Skid Surface, Stroller Can Fold w/ The Piggyback, Natural, Eco-Friendly Wooden Material, Withstands Weight Upto 50 lbs" |
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Mens Enjoi Tee - Enjoi Piggy Back T-Shirt $23 Go for a ride with Enjoi. Panda piggy back graphic on the chest. Regular fit tee. |
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Ella Raines Riding Piggy-Back on Her Husband Major Kennth Trout $79.99 Ella Raines Riding Piggy-Back on Her Husband Major Kennth Trout - Premium Photographic Print |
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Apexi Piggy Back Programmers - Super AFC Select (Digital) Fuel Management [Universal - Fits all Cars] $403.92 Apexi Piggy Back Programmers - Super AFC Select (Digital) Fuel Management |
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Piggy Paint PPP1 Princess Piggy Package $136.89 My quest was on and Piggy Paint was born. As you may have guessed our polish is NOT flammable and sits beautifully on the unaffected foam. We hope you enjoy this waterbased polish that is specially formulated of natural ingredients. Finally a kidfriendly polish without the accompanying drawbacks of traditional polishes. It is free of formaldehyde toluene phthalates biphenyl A ethyl acetate and acetone... and made in the USA. From my heart to yours I hope Piggy Paint takes the worry out of painting your nails and puts the fun back into this enjoyable activity you can share with your daughter and other precious girls in your life. Princess Piggy Package: 14 Piggy Paint Nail Polishes and 2 Piggy Paint Nail Polish Removers. Contains 1 of each polish color: Forever Fancy Sometimes Sweet Angel Kisses MacnCheese Please Dandelion Dance Ice Cream Dream Dragon Tears Tea Party for Two Clouds of Candy Twinkle Toes Glass Slippers Girls Rule Sleepover and Candy Coated. |
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4.4 Series By-Pass (5 Tube) Piggy-Back $1980.89 Black and zinc finish;Body diameter: 4.4";Travel: 16.0";Shaft size: 1.250" diameter;Reservoir dimensions: 3.00" x 16.00";Extended length: 44.00";Collapsed length: 28.00";5/8" bolt / Heim mounting 4.4 Series By-Pass (5 Tube) Piggy-Back |
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Hypertech Piggy Back Programmers $382.62 "[02 Chevrolet Avalanche 4.3 / 4.8 / 5.3 / 6.0 / 8.1L SFI 4L60/4L80 Transmission, 02 Chevrolet Avalanche 8.1L SFI Allison Transmission] The Hypertech Power Programmer allows you to control and adjust: shift points, shift firmness, rev limit, top-speed, and tire/gear. Premium and regular fuel can be used for power tuning." |


US $12.95





























































































