Buying a piggy bank to a kid - Good or Bad

I have had the opportunity to understand money from a very young age. Though I did not know the value of money, I did have the chance to use money wisely from a very young age. I think that was because I got exposure to money from a very young age. These days I have seen many parents earning a perfect amount of money and not letting their children know the value of money. Not all parents but I have seen some parents who keep their children in the luxury of money. I think I'm good with finance because I did not have that luxury during my young age.

When I was a kid, I used to have a piggy bank where I used to save the money relatives give me. My sister also had a similar piggy bank and we were very happy to check how much we had. We used to frequently check our money and have fun with each other. One thing that we missed doing was to share the money which is very important for siblings. That thought at a very young age will only let them grow to be generous at a later stage.

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Some parents think that kids should not be exposed to money at a very young age. This will not let them focus on their studies. Even though it is a good thought, I would say that as soon as the kids know what money is, they should have the opportunity to know it much better. That's when they equally get a chance to know both good and bad about money. Keeping the kids completely away from money may not be good because they will need that knowledge to handle money later in their lives.

I remember my friend used to get some money from his parents whenever we are going out or going to our college. But when he is spending the money he used to be very cautious about the money saying that it is his parent's hard earned money. I thought this discipline comes only if the money is hard-earned from the parents. But I have seen a different thing. I used to do part-time jobs and earn money for my college spending. Whenever I spend that money on unnecessary things or just eat some junk with friends for the sake of spending, I will realize how hard it was for me to earn the money and the importance of not being very careless while spending it.

I think this type of knowledge will reach kids only if they get exposure to money and only if parents teach them all their experiences about money. There are both good and bad things but we as parents should be able to guide the kids at the right time. I feel buying a piggy bank to a kid is a very good thing and giving them financial education from a very young age is also a good thing.

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