Saving and managing money is a good skill to teach your children. They might not have a mortgage, loan or any dependents, but by teaching them how to look after their money, you're providing them with the knowledge they'll need later on in life.
Many children have little understanding of how much things cost. Encouraging them to save up for treats will help them understand the value of buying products, and appreciate the feeling of saving up.
A novelty money box can bring a bit of fun to the learning. This ATM Savings Bank (£39) mimics a normal hole in the wall, which children love as it feels 'grown up'
Here are four more money boxes to encourage your child's frugal habits.
- Money Maze, top left, IWOOT.com, £12.99
- Coin Saving Money Jar, top right, Gadgets.co.uk, £12.95
- Fairy Wishes Money Box, bottom left, Bombay Duck, £19.50
- Fisher-Price Laugh and Learn piggy bank, bottom right, Littlewoods, £21