1. An Awesome Piggy Bank
Saving money is the foundation to developing positive financial behaviors, but it can be a real struggle to convince your kids of that fact. A great way to encourage children to save their money is by giving them an awesome “piggy” bank to keep it in.
2. Math “Video Games”
“Grand Theft Auto 5” may be the game title of choice this Christmas, but you would probably rather improve your kids’ financial literacy than their criminal history. There are many educational tools on the market that take the form of video games, such as Leapfrog’s Leapster — a hugely popular and highly rated handheld gaming device for kids age 4 through 9.
3. Stock in a (Profitable) Kid- Friendly Company
More likely appreciated by somewhat older children, buying stock as a gift is a great option for the young entrepreneur in your life. Choose a company like Disney, Coca Cola, or if you’re feeling generous, Apple, and buy stock in a custodial account for the child. You can buy colorful, single-share stock certificates in some 200 companies — including Disney, Build-a-Bear, GameStop, Harley-Davidson, McDonald’s, Nike and Ninendo — at OneShare ( www.oneshare.com).
4. Cold, Hard Cash It’s hard to go wrong offering a crisp, green bill as a gift, but don’t pass on the opportunity to instill the all important value-of-a-dollar lesson. When giving physical money, it’s best to have a savings goal associated with the gift — like offering $40 specifically toward the purchase of a new bicycle.
5. Their First Wallet Children love it when they’re treated like miniadults, and nothing says “big kid” like owning a wallet. Depending on the child’s age, you can either give a toy wallet, or a real one.