We were recently challenged by thinkmoney to decorate a piggy bank but to also think about what financial advice we want our girls to carry with them until they’re older. I was certainly never good with money and spent my very early “grown up” life in debt and borrowing money from my Grandad constantly. Meeting my hubby changed things, he put me back on track and taught me so much about managing money. I’m confident that my girls have got a really good example about managing money from Hubby and from myself.
We are in the process of teaching P1 the values of money and believe she is ready to start this learning curve so when we were challenged to create a Piggy Bank I knew that we would have great fun incorporating her favourite type of activities with a little bit of finance education. We were given a £30 Hobbycraft voucher to aid our crafting experience and so I used this as our first little tool to teach her about money. We sat with the laptop and placed items she wanted to use to decorate the pig we were sent into her online shopping basket.
I kept as close to our budget as possible to show P1 that you can only spend as much as you have in your bank/pocket and that actually some things cost quite a bit and others cost more. We had quite a few items removed or placed back in depending on prices. Budgeting like this is definitely one of the most important tips I want all my girls to remember because I don’t want them to ever be in debt and find themselves stuck.
P1 was so excited about her special delivery and when all the bits arrived Hubby took P2 out for the afternoon whilst P3 slept peacefully giving P1 lots of time to get creative. She started by drawing on some shapes to paint. She then got to work with the bright colours covering the whole piggy bank. Whilst she was painting we got to speak about all sorts of things and about starting school again. I love watching P1 do art activities, it’s like she enters a whole new world where it’s just her and whatever she’s doing.
I used the opportunity to talk about what her piggy bank would be used for when it was finished. Saving money. She told me that she wants to save to go to the cinema with her sisters when they are a bit older. I told her that Mummy and Daddy are saving to buy a house. She told me about all the different things she wants for our house to have and I explained that to get those things people have to save their money. It was lovely to hear her views on saving money.
I think that the most important tip that I want my girls to know about money is that it doesn’t grow on trees. I can’t print it off and have an unlimited supply, as I remember P1 telling me a year or so ago. Money is something you earn, something you work hard for, a skill you give to someone who rewards you by allowing you to have the money to save for those things you want whether it’s something small like a tin of beans or something huge like a house or holiday.
When the paint was dry on the piggy, stickers and feathers and glittery bits were added. P1 has such a crafty imagination and I’m actually really pleasantly surprised by the end result of her Piggy Bank. It’s so bright and fluffy. I especially love his pompom nose and tail.
The whole process of participating in this Piggy Bank competition with thinkmoney has opened my eyes up to how much P1 knows already about money, how much she still has left to learn and also that I would quite like to involve her more in money decisions as much as a 6 year old can.
*This post is my entry to win £200 to kickstart P1s piggy bank with thinkmoney. However, all photos and opinions remain my own*