Reddit mentions: The best money banks for kids

TL;DR: Gave our kids license over their money within certain boundaries while they are young so they could fuck up their finances with cheap stuff and learn their lessons early on.

Not sure if this is what you are getting at or not, but here's what we are doing with our kids. They have a typical kid allowance/chore system. Doing daily chores nets them $.25/chore. Simple stuff like dishes, trash, clean your room, etc. We have "bonus" chores which pay significantly more for irregular tasks. Clean the toilet in the kids bathroom? $1.00 payout. Mow the lawn - $2.00 (it's a smallish lawn and a riding tractor which they love to drive, it's not even a chore really). These aren't astronomical pay-outs because these are very regular sorts of chores. It's not the amount they earn, it's more about the frequency and revenue potential of doing chores regularly and building a maintainable revenue stream. What is their incentive?

Like many FI'ers we're not lavish with our gifts on birthdays or Christmas. We try to get them ONE very nice gift and a sundry of other stuff they need like socks/underwear/shoes/clothes/book bag/etc. The incentive of the chores is that with some small stipulations, they get to do whatever the hell they want with the spending money. Mom and Dad won't buy you x but with your own money you can go get x if you want. You want a new game for your Nintendo DS? You are stuck hoping on it for your b-day or Christmas. Want it sooner? How much spending $ do you have? Might need to do some more chores to save up if they don't have enough.

Now this sounds like I'm reinforcing the consumerist, hedonistic adaptation we are all surrounded by. Here's the difference: Pay-out of their allowance has rules around it. We "pay" them a lump sum each month, but they have to divide it up and record it into a ledger as follows: 10% is "give" money, the remainder is divided into 1/3rds thusly: 1/3 save, 1/3 spend, 1/3 invest. That means if they are $2.00 away from being able to afford x they can't just mow the lawn to get across the goal line. They need to do a variety of chores to account for the splits above to give them $2.00 afterwards.

We gave them typical kid savings banks (note: I do not sell or earn any endorsements for this product, your mileage may vary, etc) to put their money in and every couple of months we go to the bank and deposit their earnings into their own savings account. They do the math and divide up the funds on their own. They fill out the deposit slips and count their own money out at the bank. They have a savings register which shows them the interest they have earned since the last deposit which I make an effort to point out to them each time we go.

spend money literally has no rules. They can spend it all on chewing gum if they want. Mom and Dad have no fucks to give for what they spend it on. Initially, that's exactly what they did with it. Now that they've been using the system for a few months they "get" the idea that if they want x and they don't have the $ today, that means they have to do more chores and save up by not spending their spend money on chewing gum.

Invest Money goes straight into their savings account. The only technical difference is in addition to going into a separate ledger, they can withdraw and invest it however they want. The older one lent some money to his younger brother to run a lemonade stand once which payed out nicely for him. Otherwise it collects interest until he gets an idea about how to use it next. I'll freely admit we need to be more active in this area with the kids. Sadly there aren't a ton of investments available out there for small amounts and young kids.

Save Money This is exactly as it sounds. Sits in their savings account and collects minimal interest.

Give Money Usually goes to church and gets dropped in the plate when it comes around although they've occasionally had fund raisers at school which they've chosen to participate in from time to time instead. We don't govern this much either. Whatever makes their hearts glad for being able to help people in need is the primary directive for these funds.

It's been instrumental in helping our kids understand, at an early age, some very basic concepts about how to manage their money and make wise decisions with their time. Eventually they will want bigger ticket items like a car, etc. where they will have savings they've socked away since they were very young to pour into those desires and I hope they will realize how all that effort over years brought them to a place where they could afford the opportunity to purchase, protect, and maintain that asset. Will they be FI at 22 years old? Probably not. But they might think twice about how they spend their paycheck on the weekends and that's about as much as we hope for. I expect they will make a bunch of mistakes along the way but I'd rather they do it with chewing gum than with a gas guzzling truck to drive to school because "all the other boys have one".

edits: formatting/grammar fail(s), added a TL;DR

You're going to be extremely hard-pressed to find a lot of idols, when you google search Cthulhu Idol, on sale.

A lot of them are just one and done art pieces(which is a shame because a lot of them are gorgeous and would make a killing molding and resin-casting them up).

Obviously, there's the Daring Idol.

This is the one I probably covet the most. It was an EXTREMELY limited run with, I believe, a 250? dollar price tag. It's obviously fairly worth it but that is one of the more pricier idols out there. It came with an illustrated Call of Cthulhu booklet and custom-designed box. He's said on several occasions he plans to make more but that has not happened yet.

The HP Lovecraft Historical Society has a very lovely Cthulhu idol in the style of an eskimo tupilaq, a version of which also appeared in their 2005 Call of Cthulhu silent film adaptation. It's over foot long and comes wrapped in faux fur, which I think is just really fun. They had a few other versions of idols they used as props in the movie but apparently they're no longer available in their store.

There's a fellow by the name of CopperCentipede who does great work...however, almost all his idols are 2 inches or less in height. It's ALMOST insulting how small they are compared to the fantastic work and style he makes them in. Still would look him up if I were you.

Then of course we come to Cryptocurium, who does amazing work. I really think you should keep trying a few more times to get your idol from him, because I've bought a few things from him as well and have never had an issue.

Then there are various miscellaneous artists out there who have a few idols for sale, check etsy every so often. Lots of good ones there occasionally. CopperCentipede has a store there. DeviantArt might have a few people selling copies of their idols every so often.

Also there is the Cthulhu vinyl coin bank that is very well designed. I bought one and painted it up to look more like a stone idol. My only complaint about it would be I wish the base Cthulhu is perched on was a little taller, but other than that it's really great for not much money. Just use clear packing tape to cover the coin slot, spray it with a couple coats of primer that can be used on plastic and paint it with a color of your choice. I used a black, shiny onyx-like on mine, and then gave it a wash with acrylic sand color and water, wiping away the excess, so the sand color would get into the cracks and crevices and rough paint spots and give it a centuries-old weathered stone look. Here is a not too great image of the final product but it looks MUCH better in person. Can you tell I emulated a certain coveted idol? Yeah. I'd actually recommend you try a shiny gold paint on it, as I think it would look very nice and, Mythos-wise, would look like it came right out of the Marsh Refinery in Innsmouth.

Good luck in your search. This is a VERY niche subculture hobby of a very niche subculture, so pickings will be very slim.

Oooh, I put so many cute stuff for my upcoming new home in my hidden new home wishlist. I prefer to have my cute with practicality, so here are some useful things around the home!

Kitty salt and pepper shakers, or if you're not a cat fan ^^^^^what?! - some Captain American/Iron Man ones instead? And yes, I know the first pic shows Spidey, I don't know why either.

Or if you're a dog person looking to save money, this Shiba Inu piggybank will be a delight to have!


I heard you like unicorns, and I too think they are pretty awesome, that's why I have plans to get this adorable night light and this cute plush cushion when I move into my new place!

Speaking of cute, what about this amazingly adorable elephant necklace?

I have so many suggestions, but I don't want to overwhelm you! ♥ Happy napping with the baby tomorrow!

My mom always gives great stocking stuffers. Pretty much all my fun eyeshadow comes from her. But honestly, the best "stuffer" she ever gave us was Money Soap. It was silly, but it was fun and smelled good. Plus it made my siblings and I keep in touch more because we were calling to check on the progress of each other's soap. We all live in different states and don't call each other enough. My sister got to her money first, then my brother and finally me. We all only got a dollar, but it was fun and helped us bond more.

Here, let me help you out :D These are all in the $10 to $20 range, while others go from $20 to $30. The first section is for the banks... I added some actual toys in the other sections just in case :D

Godzilla 1989 Coin Bank

Back to the Future Money Box

Bulldog Bank

Life-Like Pug Bank

Parrot that Eats Money

Knights of Templar Box

Alien Queen Bank

Cacodemon Bank

Green Mushroom Bank

Yellow Orange Mushroom Bank

Yellow Green Mushroom Bank

Mario Bank

R2D2 Bank

Better Looking R2D2 Bank

Predator Bank

Ctulhu Bank

Frankenstein Bank

Alien Big Chap Bank

Unmasked Predator Bank

Alien Warrior Bank

Burnt Stay Puft Marshmallow Man Bank

Glow in the Dark Alien Bank

Glow in the Dark Ctulhu Bank

Alien Egg and Facehugger Bank

Spock Bank

Glow in the Dark Slimer Bank

Regular Slimer Bank

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I also would love to suggest these non-bank toys :D

Figuarts Super Mario

Figuarts Yoshi

Rement Pose Skeleton Tyrranosaurus Rex

Schleich Tyrannosaurus Rex

Schleich Gigantosaurus

Bandai Godzilla

Movie Monster EX King Ghidorah

Millennium Godzilla

Godzilla 90s Era

Godzilla 2014

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I noticed he likes JOJO, a manga/anime that I also love! These following toys are beyond your $30 budget, BUT in case you feel like spending a little more to make your boyfriend happier, then these toys will do the trick :D

Medicos Jotaro

Medicos Dio

Medicos Josuke

There you go, I hope you find my research helpful and you can pick a few from them hehehe :D

If they get an allowance, try using piggy banks that divide up spending vs. saving vs. donating to charity (such as this one or this one) and discuss with them how they want to split their money.

Lemonade stands are a great way to learn about money -- how much you need to invest up front for supplies (although for younger kids this can just be a "donation" from Mom and Dad), how to price your product so people will buy it, keeping track of your earnings, etc. You can also encourage them to donate half or all of the proceeds to a charity, to support a cause they care about -- I remember having lemonade stands for a local animal shelter as a kid and feeling so proud when I got to go deliver our donation.

Depending on their ages, you might also check out some simple financial literacy books and stories that involve saving money. For younger kids, Needs and Wants or Lily Learns about Wants and Needs look good; for elementary-age kids try Do I Need It or Do I Want It?: Making Budget Choices; and for upper elementary to middle school kids there's The Everything Kids' Money Book. In terms of stories that involve money, check out Alexander, Who Used to Be Rich Last Sunday and The Berenstain Bears' Trouble with Money.

Hah, that was me - thanks for your reply! I re-read my comment and wasn't sure whether my tone sounded unintentionally bitter, and since I didn't intend that tone and didn't want to start a fight I deleted it.

I think teaching voluntary saving is really important. Here's some more info on Share, Save, Spend. There are some banks you can buy or of course can make your own. I'm an advocate of having kids make their own when possible, to get them more invested in it.

To me, the 'save' there is not just for college or a first car but the first lesson to be taught is saving for a 'big' toy they want. Not to rely on Mom and Dad (or worse, Santa) to buy the big stuff, but to learn to save up for it. Mom and Dad can help by doing matching or other negotiated incentives if they want. But, from a conservative standpoint, I think teaching some age-appropriate degree of financial self-sufficiency is a good base starting point for the more complex things to be taught later.

At an age appropriate time, you can also build in critical thinking lessons by having them research charity efficiency for what charities might receive their 'give' donations.

• [This is a bit abstract but definitely a pregnant lady] (http://www.amazon.co.uk/MumStuff-Preggy-Bank-Maternity-Piggy/dp/B003V3YF0E)
  
• [pregnant pig, maybe not what you're after] (http://www.amazon.com/Le-Mouton-Noir-Piggy-Glossy/dp/B0062DRNEA/ref=sr_1_1?ie=UTF8&qid=1372216613&sr=8-1&keywords=BB+Piggy+Bank)
  
  If i find anymore i'll be sure to post them. Good luck with the baby :)
  

I too am a huge proponent over quality over quantity (even if $$$).

Boy, I'm trying to think of why my kid did when he was 1...I am pretty sure he got his first Duplos at age 11 months.

OK I checked my order history with amazon to remind myself. Lots of fridge magnets. He would sit on the floor next to the fridge and rearrange his magnets and I could actually get some work done. I remember this set was well loved: Melissa and Doug animal magnets. He also liked this Fisher Price piggy bank .

Otherwise it was lots of board books and simple things that we made. I remember we had a big coffee can that we cut a slot into the lid and then he would insert baby food jar lids into the slot (same idea as the FP piggy bank).

1 year old was a tough age to find decent stuff for at the toy store.

This is pretty random, but it's cute! And on my wishlist for random things :)

I want to go to pretty California

Oh the Secret Santa! I absolutely love it. Sadly me being a 19 yo student living with his parents is a big no-no for this stuff :c

I did something similar with my High School classmates: a friend of mine gifted a Marx-shaped piggybank to a friend of ours who is communist like him. Good old times.

Edit: http://www.amazon.com/Kikkerland-PB20-Karl-Marx-Money/dp/B00E9A5Z6G/ref=sr_1_1?ie=UTF8&qid=1449679223&sr=8-1&keywords=Marx+bank If You feel curious.

challenge accepted
I want Jessica to make me a hat
1- 2 -3 - 4 - 5 6 - 7 -8 - 9 - 10 - 11 - 12 - 13 - 14 15 - 16 - 17 - 18 - 19 - 20 -21 - 22 - 23 - 24 - 25 - 26 - 27 - 28 - 28 - 29 - 30 - 31 - 32 -33 - 34 - 35 - 36 - 37 - 38 - 39 - 40 - 41 - 42 - 43 - 44 - 45 - 46 - 47 - 48 - 49 - 50 - 51 - 52 - 53 - 54 - 55 - 56 - 57 - 58 - 59 - 60 - 61 - 62 - 63 - 64 - 65 - 66 - 67 - 68 - 69 - 70 - 71- 72 - 73 - 74 - 75 - 76 - 77 - 78 - 79

i realize i got a bit carried away.. but it was an almost 2 hours well spent. i hope you have a great day!

Giraffe Piggy Bank!. It's so...., well not really fluffy, but a cool new new animal themed coin bank! This one is also pretty cool and sleek.

You guys are amazing. I'm brought to tears...please PM me your address if you've purchased and are comfortable doing so, so that I may send you a thank you card..


So for Kathrel, the following things have been ordered from complete strangers I don't even know....
http://www.amazon.com/iXtreme-Hooded-Winter-Jacket-Black/dp/B0068QK87U/ref=wl_it_dp_v?ie=UTF8&coliid=I1JNCXBL8XTQZ1&colid=3MZT860T4GK2O

http://www.amazon.com/Marvel-Spider-Man-Movie-Bust-Bank/dp/B000NVLE3S/ref=wl_it_dp_v?ie=UTF8&coliid=IX0SYW0RAL7Y7&colid=3MZT860T4GK2O

For JoJo
http://www.amazon.com/Spiderman-Swinging-City-Boys-Winter/dp/B005T54DK4/ref=wl_it_dp_v?ie=UTF8&coliid=I12D9V3SL8GYK8&colid=3FYHJFFJIWJWR

For Emani
http://www.amazon.com/Crayola-Wonder-Disney-Princess-Within/dp/B0046KK4FG/ref=wl_it_dp_v?ie=UTF8&coliid=I1RVH0KI8068ID&colid=NKBPJ2GBT4E5

http://www.amazon.com/Savvi-Hello-Kitty-Tattoos-Kit/dp/B005N6Z1OQ/ref=wl_it_dp_v?ie=UTF8&coliid=I37R8CA4GSPLTW&colid=NKBPJ2GBT4E5

http://www.amazon.com/Kids-Headquarters-Toddler-Belted-Outerwear/dp/B005G6N6UO/ref=wl_it_dp_v?ie=UTF8&coliid=I3NWE2WHVHGIWX&colid=NKBPJ2GBT4E5

This. At least it's what I want for Christmas.

Oh, you wanted something Red Sox? Maybe a picture of Fenway or some players. Maybe something that is blue/green to get some different color. I like the idea of a green monster chalkboard from /u/dherik . Best of luck, and keep us updated on what ya get.

Sadly this one isn’t sold on Amazon anymore. I did find a few others for u tho
flat trays
tube sorter
sort-o-matic
But if ur heart is set on sort-n-save I found it on eBay.

Hugs!!

He might be a little old for this now (not sure about 9, actually) but I love the idea of this 4-slot piggy bank which has a somewhat similar purpose/method to the ING savings account.

https://www.amazon.com/MATRYOSHKA-HANDICRAFT-Homunculus-Loxodontus-Sculpture/dp/B071S8RWM5/ref=pd_sbs_21_1/135-8618786-3754115?_encoding=UTF8&pd_rd_i=B071S8RWM5&pd_rd_r=d1848a5f-6bce-11e9-b12e-253105b62179&pd_rd_w=TpgTr&pd_rd_wg=CjvKT&pf_rd_p=588939de-d3f8-42f1-a3d8-d556eae5797d&pf_rd_r=AF6KARB35CY4J3YFRTVZ&psc=1&refRID=AF6KARB35CY4J3YFRTVZ

​

I would like to point out for the record that this item is HANDMADE from GYPSUM. Truly, a devotee.

You should pay your child support like that every month tbh

here I’ll help you

Here's an electronic counting coin jar, here's a cuter one shaped like a pig (but the reviews aren't that great), and here's a children's ATM.

The first thing I notice about this is that a great deal of your kid's spending money comes out of your allowance. That seems grossly unfair to you and you're going to take it personally when your kid acts like a kid and loses things.

I would recommend your husband and you go back to the budget and take what seems like a reasonable amount out of both your spending money for your daughter.

Secondly, something you might consider doing is cutting the tie between chores and allowance and increasing the size of her allowance to the amount you actually spend on her on non-necessary items.

Because how much money does she have right now? It sounds like none. So she won't stop asking you to buy things for her and she's not learning how to spend and budget herself because she has no money. There will time in the future for her to learn how to earn money. But right now it sounds like you're trying to teach her to value money and it isn't working because she has none and she doesn't have an idea of the limits of how much you have.

The grandparents can do what they want. That is in their budget. Edit: And you can switch to telling your daughter, "That's not in our budget. Did you spend all of your money/bring your money?"

Consider getting daughter a moonjar to more explicitly teacher her the concepts of save, spend, and charity.

I have no advice on the chore chart. :(

I like my research on finances for my still-too-young daughter, but I think chores are going to be more of a theory-trial-error process for me. It'll be a little while before I see how my first theory stacks up. But I think the financial stuff would have worked very well on me when I was a child. My mom would forget to give us our allowances most of the time even when we did chores :(

Edit: Most of my financial theory/advice comes from Ron Lieber's book, "The opposite of spoiled".

This parrot has found its soul mate.

link

Feel better!!

Pot of dreams. Also adorable.

Some of these Salt & Pepper banks are cute. Also this and this.

Cute also.

There's a cool Marx piggy bank.

First, I know exactly what you're talking about. I had one. I remember mine being colorful-- it was cased in clear plastic so you could see the coins, with a blue(?) edge, and each little wheel/lever that split up the coins was a different color. No batteries, it was just based on the weight/size of each coin.

That said, I'm really surprised that I can't find it anywhere online. I've tried every combination of [kids/childrens] [coin/money] [bank/sorter/toy] and I came close a couple times, but could not find this one.

Similar (but wrong) findings:
An OLD coin sorter toy (similar concept) that popped up on Etsy
A mechanical coin sorter on Amazon

I'm Jewish, but non-practicing. This is not intended to upset anyone, but how about you get one of these for your home?
https://www.amazon.com/DIAMOND-SELECT-TOYS-Smiths-Christ/dp/B00KMUK3I2

Can't go wrong with a statue of the ol' boy himself:

https://www.amazon.com/DIAMOND-SELECT-TOYS-Cthulhu-Figure/dp/B00RHXJ70W/ref=sr_1_1?ie=UTF8&qid=1549909060&sr=8-1&keywords=cthulhu+bank

not on amazon

Amazon

I got you

I've been using the bust of Karl Marx as a blade bank for a few years, and it's only about 2/3 full

https://www.amazon.com/Kikkerland-PB20-Karl-Marx-Money/dp/B00E9A5Z6G/ref=sr_1_1?ie=UTF8&qid=1481936215&sr=8-1&keywords=karl+marx+piggy+bank

I got this Marx piggy bank for my undergrad thesis adviser and sent handwritten letters to the rest of my profs.

Similar and functional. not really.

Ha, nope. Would've been funny, but this is the one I bought. It's sitting on our bookcase, so far none of our friends have commented on it.

This coin bank/statue is probably one of my favourite pieces of memorabilia period. It's functional (although getting the coins out is kind of a pain, strange angles and all that), well crafted, nicely detailed and in my opinion exactly replicates what I imagine Inspector Lagrasse's captured statuette to be.


https://www.amazon.com/gp/product/B00RHXJ70W/ref=oh_aui_detailpage_o00_s00?ie=UTF8&psc=1


In truth I began my real venture's into Lovecraft's work only three years ago, coming across an audiobook of The Call of Cthulhu on YouTube and listening to it while working as a grocery store stockman (listened to it about 17 times since then). But after my third or fourth time traumatizing myself I established that I must delve into all that the greatest of mad men has created, and found a tome capable of opening all those vistas to me. Enter, the Ultimate Collection.


https://www.amazon.com/gp/product/1502724456/ref=oh_aui_detailpage_o00_s00?ie=UTF8&psc=1


One EXTREMELY IMPORTANT PROBLEM with the book however; instead of The Dunwich Horror, there is a second printing of The Shadow Over Innsmouth. It is entirely possible my copy was misprinted but I do not know for sure as there is only 1 review on the listing and I hadn't discovered the problem until nearly a year and a half after purchase (turns out I have to keep putting it away lest the terrors therein haunt my dreamscapes from constant reading).