When teaching kids about finances, we usually divide the ways we use our money into three categories – save, spend, and share. A simple way to explain this to your child is:
- Save: Money can be used to buy something in the future or prepare for an emergency.
- Spend: We buy or pay for something that we want or need right now.
- Share: We give it to others who may not have enough money for the things they need or to causes we support.
You can create your own save, spend, share banks with your kids to create a money moment!
Supplies:
- Cardboard box or 3 empty jars with lids or plastic containers with lids
- Construction paper
- Crayons or markers or paint
- Scissors
- Tape or glue
- Extra’s: googly eyes, glitter, stamps, stickers, etc.
Instructions for creating a bank using a cardboard box
Please note that cutting through the top of the box is a task for an adult or older child.
1. Take the cardboard box and put in three money slots using a scissors or straight edge.
2. Cut cardboard pieces to separate the container into three and tape or glue in place.
3. Decorate the box. Label the "Save, Spend, Share" money slots on the box.
Instructions for creating a bank using three separate jars or plastic containers
1. Cut the construction paper for your child so it’s the size of the containers and put holes in the lids of all three jars. Or use duct tape to identify which jar is which.
2. Have your child decorate the construction paper to show what they’ll do with the money they have set aside in each jar. Or decorate the jar with extra’s.
3. When they’re finished, tape or glue their pictures to the jars and display the jars for use.
When your child receives money, help them decide how they want to divide it up. When money builds up in their save jar, have them deposit it into a savings account to help keep it safe.
Reviewed in 2021