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As parents, we all want to set our children up for success. But in a world where financial literacy is often overlooked in schools, how can we ensure our kids grow up with a solid understanding of money management? Enter the humble SAVINGS JARS – a simple yet powerful tool that can transform your child’s financial future. 

The Magic of Visible Savings 

Savings jars offer a tangible, visual representation of progress that’s especially powerful for young minds. Unlike abstract concepts of digital savings, these physical jars provide a concrete connection between effort and reward. 

Picture this: Your 7-year-old son carefully drops a shiny quarter into a clear jar labeled “Savings”. His eyes light up as he watches the pile of coins grow, inch by inch, for the new hockey stick he’s been dying to have, (yes, my boys were both hockey players). This isn’t just about saving money; it’s about watching dreams materialize. 

Key Benefits of Savings Jars 

1. Financial Literacy 101 – Savings jars introduce fundamental financial concepts in a fun, interactive way. Children learn about income, expenses and the value of money through hands-on experience. 

2. Goal Setting Superpowers – By choosing specific savings goals, kids develop crucial goal-setting skills. Whether it’s a new hockey stick or a charitable donation, they learn to plan and work towards their objectives. 

3. The Art of Delayed Gratification – In our world of instant-gratification, savings jars teach the invaluable lesson of patience. Kids learn that good things come to those who wait (and save!). 

4. Math Skills are Boosted – Counting coins and dollar bills, calculating percentages, and tracking progress – savings jars are a sneaky way to improve math skills without it feeling like homework. 

5. Budgeting Basics – As children manage their savings jars, they naturally learn about budgeting, allocating resources and making financial decisions. 

Practical Tips for Parents for Making Savings Fun 

DIY Jar Ideas 

Transform ordinary mason jars into exciting financial vessels! You can find reasonably priced ones at Michaels, Walmart, HobbyLobby and Amazon, to name a few, and is a great craft activity you can do together. Try these ideas: 

• Savings Jar: Have your child decorate this jar with what he or she is dreaming of having some time in the future. It could be a printed picture that he tapes onto the jar or his own drawing of what he’s saving towards. It encourages your child to set long-term goals and recognize delayed gratification.  

• Spending Jar: Label this jar for the things he can spend immediately. It allows kids to make budgeting choices about what he or she needs versus things they may want.  

• Sharing Jar: Create a special jar for charitable savings to nurture generosity and encourage conversations about all the great social causes out there that need our help. This fosters a sense of empathy by helping those in need and could be decorated by your child’s choice of charity and/or who he or she wants to help.   

We taught our boys when they were in elementary school our 45/45/10 rule – the money we earned was used for 3 things: the future (savings), the present (spending) and for God and helping others (sharing). One year when our boys got birthday money or sold their toys in our garage sale, we implemented this and they would always “save for college”, have some money to buy the latest toy they wanted so badly and then they both chose to give to the local animal shelter. When we visited the shelter to see all the dogs, our oldest would never want to leave and would cry his eyes out because he wanted to take them all home with us … yes, we raised dog lovers. The beauty of the animal shelter was in return for their cash donations, they would get monthly letters in the mail about the dogs they helped. They would look forward to getting those letters every month and would proudly display them in their rooms. Research causes that resonate with your child and go and visit them so they see where their money is going. These jars not only brought a powerful sense of accomplishment to our boys but also a psychological boost of knowing (and seeing) what their generosity did for those abandoned dogs.  

Your Child’s Financial Journey Starts Here 

Implementing these jars is more than just a fun activity – it’s an investment in your child’s financial future. By starting early, you’re equipping them with skills that will serve them for a lifetime. 

Ready to get started? Here’s a simple action plan: 

1. Choose jars or containers with your child.

2. Decide on savings goals together. 

3. Set up a system for “income” (e.g. allowance, chores, gifts, etc.). 

4. Regular check-ins to count savings and discuss progress. 

Remember, the journey of financial literacy starts with a single coin or dollar. Why not make that first deposit today? 

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