How to Use Kids Giving Banks and Tithing Banks

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Tips for Using Kids' 4-part Giving Banks and Tithing Banks

Thinking of buying your child a 4-part (or 3-part) Giving Bank or a Tithing Bank to help your child learn how to SAVE, SPEND, and DONATE money?

First, get some tips and hints here on the keys to its successful use.  All simple things are brilliant - until you try to put them into practice on Friday night when you're tired and trying to divide $1.00 into 3 equal portions . . . hmmm - then the cursing starts ("Why did we buy this convoluted thing anyway?").  Oh yeah, very spiritual.  ;)

This Squidoo lens has lots of helpful information that you need to know BEFORE buying a Giving or Tithing Bank, that might answer your questions AFTER buying a Giving or Tithing Bank, and that might prompt you to get The Kids' Bank Book - the complete guide to doing 4-part Giving Banks the smart way, without pulling your hair out.

I wrote The Kids' Bank Book to help you teach your children how to develop money WEALTH HABITS - AND keep your SANITY!  Donating, Giving or Tithing (whichever term you prefer) is a very big part of The Kids Bank Book.

Remember what Eleanor Roosevelt said?  "Learn from the mistakes of others. You can't live long enough to make them all yourself." 

[That's why I wrote the book - so you could learn from my mistakes, my testing, my analysis, my game plan, organization, strategies, hints, guidance, teaching tecniques, and tips.]

A Child's Donating, Giving, and Tithing Habits 

Whether your children donate now, or you want them to eventually donate regularly, tell us what you think would be a comfortable percentage for you to have your child donating, giving or tithing.

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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.

How Long? 

Go ahead, pick your answer now.

(Then find the answer at the bottom of this page.)

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20% OFF

20% OFF The Kids' Bank Book e-book regular price of $27

Use Squidoo Coupon Code: CHRISTMAS

Get It Soon - Coupon Expires December 24, 2009!

Giving Banks for Kids 

Do one frivilous thing today that will help others (even if in a miniscule way) - take a poll :)

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Kids' Tithing Banks 

My Giving Bank: 3 Banks in 1

Avg. Customer Rating: Amazon Rating

Amazon Price: $13.59 (as of 12/16/2009) Buy Now

LearningCents Bank - Blue

Avg. Customer Rating: Amazon Rating

Amazon Price: $24.95 (as of 12/16/2009) Buy Now

LearningCents Bank - Pink

Avg. Customer Rating: Amazon Rating

Amazon Price: $22.99 (as of 12/16/2009) Buy Now

ABC Learning Bank (Kids Bank)

Avg. Customer Rating: Amazon Rating

Amazon Price: $12.82 (as of 12/16/2009) Buy Now

Mudpuppy Robots Money Bank

Avg. Customer Rating: Amazon Rating

Amazon Price: $13.00 (as of 12/16/2009) Buy Now

Cool Kid's Banks 

Why is this a cool bank? Simply because I love seeing kids be creative. I love glue and glitter and little things and making fuzzy funny looking things with all little pieces. Now, if you're not a glue and glitter person, then, that's why the other banks are listed above - they're already made, already colorful, already cute.

BUT, if you love getting white glue on your fingers and creating funny looking creative creatures with your kids, then go ahead and get this cool creative bank kit - it makes 2 banks. And, if you get 2 kits, then you'll have your 4 banks!

Faber-Castell Money Monster Banks Set

Avg. Customer Rating: Amazon Rating

Amazon Price: $18.69 (as of 12/15/2009) Buy Now

Kids' Donation Idea

- Rescue a Child - with a stable home, love, hope, faith, an education, and a long-term community
- Raise a Leader
- Rebuild a Nation

WATOTO

Get the kids involved.

Why Do I recommend Dividing Money Into 4 Equal Banks - instead of 10% to Charity? 

Because if a child learns to operate on 75% of his/her income for 10 years as a child, then, when he/she becomes an adult, he/she will find it infinitely easy to operate on 90% of his/her income.

Who knows, your child could develop such wealthy habits that he/she continues to donate/tithe 25% of his/her income - and live joyfully and abundantly on the rest. People have done it. People do it. Your child could be one of them! :) :) :)

I'm here for my . . . 

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

But, you'll bump into these issues - it's only a matter of time :)
  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

Get Your "5 TIPS to Wealth Training Your Kids" via email 

First step, get the FREE 5-day Tips to Wealth Training Your Kids e-mail. Before you jump on the path to your family's financial freedom, review these 5 fairly-in-depth discussions of 5 issues relating to kids and money and families.

DO THIS NOW! Then you'll have the first topic waiting for you in your e-mail by the time you're done reading this Squidoo lens!

You used to be able to sign up here, then Squidoo changed, and you need to go to Kids Bank Book to sign up for the email.

So, if you go there now, be sure to back track to this page!

Kids & Money - Teaching Wealth Habits to Your Children 

Have you realized that you'd like to spare your children the burden of repeating your money mistakes? (or, of the poor money lessons that you were taught as a child?) Do you want your kids to learn NOW - while they're young - the money wisdom and skills that you are acquiring on the "Get Out of Debt Now" or "Law of Attraction" paths that you are (fortunately) now on?

Would you like your kids to learn Abundance and Wise Money Management now, when they're young? Would you like your kids to build strong habits that will help them save, spend and donate money wisely?

Go To The Kids' Bank Book Now to get the e-book

Remember: Use Coupon Code CHRISTMAS to get your 20% OFF the regular price of $27 - coupon offer expires December 24, 2009 - so get it Now!

Want to Learn More about "The Kids' Bank Book?" 

Get lots more info @ my Squidoo lens about Kids & Money and The Kids' Bank Book

How to Build a 4-part Giving/Tithing/Abundance Bank for Kids 

Get them the bank - the ultimate money tool - that they'll really embrace and enjoy.

Hint: It's FREE!

1 Great CD and 3 Great Movies 

All about the Spirit of volunteering and the meaning of Life. The Best of the Best. If you only owned this 1 CD and these 3 DVDs, you would be continuously connected to the Best of Humanity.

[The little arrows let you vote your favorite up to the top - so, Feel Free!]

"Go Light Your World" CD

Kathy Troccoli's Greatest Hits cd. This song is the true essence of volunteering - and of living in the spirit of The Spirit. Haven't heard it? You're missing an incredible experience!1 point

Smile

Smile

Stepping out (of your comfort zone). Reaching out (to others). Volunteering (to heal others and yourself). Based on 80,000 true stories. What an feeling!0 points

Casablanca

Casablanca

Standing up for what you know to be true always involves sacrifice. Lose yourself in the classic!0 points

It's a Wonderful Life

It's a Wonderful Life

Because it is, isn't it?0 points

Gratitude - One MIllion Thanks 

My blog list of things for which to be thankful, because at the heart of it all - money, relationships, spirituality - it's all about Gratitude!

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Why do you like Donating, Giving or Tithing? 

[or, why do you like this Tips for Giving Banks Squidoo lens?]

Sharing is good - especially your thoughts and experiences. So, go ahead - let us know!

BTW, got a Giving Bank or Tithing Bank question? Ask it here!

submit

Squidoo by Tree 

Want to explore my other lenses? All made with the same passion :) They're all listed here - but ORGANIZED to find what you want FAST! Wishing you,

All the Best,
Tree

Other Creative, Smart Gifts for Kids 

First of all, you're probably looking at this Squidoo lens about Kids & Money because you're thinking about, or have already bought a Children's Tithing Bank.

So, why haven't I manufactured my own Kids' Tithing Bank? Because I haven't found the right manufacturer with the right quality, right materials, right "fair trade" policies, and at the right price. So, until that happens (which we hope will be soon!), I continue to recommend the "build it yourself & have fun" approach - which I believe is the best bank available out there!

Second, you may be shopping for last-minute Christmas gifts for your children or grand-children. Here are my recommendations:

1. Go to my Squidoo lens (see below) on Non-Electronic Gifts for Children

And,

2. Buy a gift for yourself and your future generations - get The Kids' Bank Book - so that all those brains & creativity that you just developed from those non-electronic gifts get used wisely (instead of wasted away in credit card debt worries & woes)!

Wishing you,
All the Best,
Theresa
Non-Electronic Gifts for Children
a.k.a. Creative & Nurturing Children's Gifts

Hey, and what about those winter birthdays that everyone forgets about until the last minute because of Christmas? Just go ahead and get the January, February and March birthday gifts now! [Hey, think about it - it hurts less to buy the gifts now while the money is flying out of your wallet anyway!]

My Current Favorite Quote 

Do What You Can
Where You Are
With What You Have.

- Teddy Roosevelt

Biblical Tithing for Children 

Here are some great books for your children to enjoy the teachings of the Bible from young to grammar school.

"Each man should give what he has decided in his heart to give, not reluctantly or under compulsion, for God loves a cheerful giver" (2 Corinthians 9:7).

Illustrated Study Bible for Kids: Holman Christian Standard Bible

Amazon Price: $13.59 (as of 12/16/2009) Buy Now

Day by Day Kid's Bible: The Bible for Young Readers (Tyndale Kids)

Amazon Price: $13.59 (as of 12/16/2009) Buy Now

Sticky Situations: 365 Devotions for Kids and Families

Amazon Price: $10.19 (as of 12/16/2009) Buy Now

Sticky Situations 2: 365 Devotions for Elementary Kids

Amazon Price: $10.19 (as of 12/16/2009) Buy Now

Did You Know? 

The www.KidsBankBook.com donates 10% of its net profits to Champ House? Doesn't it make you smile that, as you teach your children to donate and give to others, part of your $27 investment in The Kids' Bank Book has already helped others go from homelessness to "A Place of Hope, Built on Faith"?

ANSWER - How Long? 

One penny ... one single penny ... compounded daily at a 100% interest rate ... becomes $10,000.00 ... in a mere ...

20 DAYS!!!

NOW THAT shows the beauty and the power of compound interest!

by TheresaMarkham

Theresa A. Markham, Esq. loves living in scenic Northwest New Jersey with her husband, Chuck, and daughter Zoe, who are visited by her GWU-colleg...

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