How to Use Kids Giving Banks and Tithing Banks

5 Things I bet you've thought of while using a Giving Bank or a Tithing Bank that you've purchased 

And maybe even grumbled to your spouse under your breath ;)

1. Why must we be shoving dollar bills into teeny tiny slots?
2. How come these cottin-pickin' banks make you break a sweat getting the money out?
3. Has ANYONE - EVER - divided any dollar amount evenly by 3?
4. How is this investment portion supposed to grow anyway?
5. And the all time favorite, "Honey, do you think the kids will ever really like this bank?"

The 5 Answers to Your 5 Grumbles 

1. Why must we be shoving dollar bills into teeny tiny slots?
   
   No one should have to shove money - especially into a bank! What does this teach our children? Mishandling money is normal. Oooops - sorry, wrong message. That's why I advocate making your own Giving Bank or Tithing Bank - because there is NOT ONE Giving Bank or Tithing Bank on the market that treats coins and paper money with intelligence or respect.
2. How come these cottin-pickin' banks make you break a sweat getting the money out?
   
   Because they are based on a negative, self-destructive Depression-Era mentality of lack, lack, lack. As in "I, the piggy bank, am not going to let you take that money out because you may be starving one day!" It's also a message of disempowerment - that the child isn't smart enough to use his/her money wisely once the money is removed from the bank. Those are opposite messages of the Giving Bank or Tithing Bank. Our financially smart and abundant banks are supposed to be teaching our children to graciously give and receive, and use and invest our money wisely so that it multiplies, and so that we can give even more next time. Money needs to flow easily both in - and out. [see last sentence in Answer #1 above]
3. Has ANYONE - EVER - divided any dollar amount evenly by 3?
   
   NO. That's why I STRONGLY recommend a 4 part bank. Want to know their names? Okay, I'll tell you:
   
   More Money (because it's more fun than calling it "investing")
   Donating/Tithing
   Spending
   Christmas/Holiday Gift (for the child to buy for others)
   
   How many quarters in a dollar? 4
   How many $5 bills in a $20 bill birthday card from Grandma? 4
   How many nickels in twenty cents? 4
   
   There now, the World is in Order.
4. How is this investment portion supposed to grow anyway?
   
   The "investment" or MORE MONEY (as I call it) bank section should be added to each week - with INTEREST or, Return on Investment (ROI). That means that you, the parents, need to decide ahead of time how much, and based on what formula, the ROI is going to be.
   
   Confused? It's okay. You probably figure, they're kids. Isn't it good enough that they are saving that money and it will grow each week with each additional deposit? Nooooo. That's not okay. Because you are teaching them that an Investment account operates the same as the Spending account - and there's no benefit there. This Giving Bank should be the basis for great lifetime money management habits. Otherwise it's just a thinly veiled, short-lived game. Opt for the long-term wisdom.
   
   Investment Money must have its own Rewards, or, Return. There's ROI and then there's Compound Interest.
   
   Okay, now I see your eyes glazing over.
5. And the all time favorite, "Honey, do you think the kids will ever really like this bank?"
   
   Of course they won't like it long term. When was the last time that you or your child ever really truly embraced a completely plastic item on a long-term basis? [okay, other than Ziploc Freezer Baggies - but even those are disposable] Plastic conveys short-term, disposable, cheap.
   
   Financial wealth, independence and a life of donating or tithing, involves fundamental, steadfast, heavy-weight, solid values. So does a hand-made item. Want to learn the simple basics of how to make one? Visit my How to Build a 4-part Kids Wealth Habits Bank Squidoo lens.

10 Things (plus 1) that I bet you HAVEN'T thought of yet 

1. How do I explain Return to Investment (ROI) to my child with this Children's Giving Bank or Tithing Bank?
2. Okay, now, how do I calculate my child's Return on Investment every week - without using my fingers or a calculator?
3. Right, now, how do I make sure I can afford to give, and have the money on hand to give, my children their Return on Investment every week?
4. ROI? What's that? Anyone know where I can find out - FAST?
5. Isn't it easier to divide things by 4 than 3?
6. How, oh how, to I stop my children's incessant MURMURING about money and using the Giving Bank or Tithing Bank?
7. My kids say yeah, yeah, yeah, as if I'm lecturing them, but I thought I was being nice - heck, I was doing a muuuuccch better job than MY parents did!
8. Even though my kids are giving their Giving/Tithing portion to charity, why are they still careless with their spending money?
9. Is my child really going to like using this bank when he/she is older?
10. Okay, so my children are learning to set aside money for charity and church, but how about learning the manage the rest of it wisely?
11. Isn't there a better answer than "money doesn't grow on trees?"

The Answers 

1. These answers (along with a few others) span over 100 pages, which is why I wrote the book!
2. So, get it at www.KidsBankBook.com now for $27 and get your kids' money relief started now.
3. Notice, I didn't make you wade through pages of brightly-highlighted and bolded sales pages of hype and alleged discounts before you found out the price? Why? Because I respect you and your time (as I do mine). My view to buying online is, "I know what I'm looking for - some information, then some thing to own for more detail and reference. Tell me how much it is, so I can get it and move on. That way, I can go about my day like the efficient, effective adult that I am.
4. Or, visit my other Squidoo lenses related to this topic.
5. Kids and Money, which is about "How to teach your children (ages 5 - 17) how to create & share wealth"
6. Allowance and Kids, which is about, hmmmm, now let's see, I always forget that one ;)
7. Or, sign up for my 5-part email, "5 TIPS to Wealth Training Your Kids" - at www.KidsBankBook.com.
8. Or, visit my www.kidsbankbook.com page about What You Wish Your Parents Had Taught You About Money