Most children may not like running errands with their parents, but the opportunity to learn more about money and use a self-service coin counting machine on a trip to the local bank may be a stop many kids don't mind. In fact, many youngsters find it fun to pour the change from their piggy banks into these machines and see just how much they've managed to save.
Using self-service coin counters can provide parents with an opportunity to teach their children about different coin denominations, which can help them learn to count and manage change. Showing them how pennies, nickels, dimes and quarters all have different sizes and values can help them begin to understand the value of money. After they receive bills in exchange for their change at a coin counter kiosk, parents can find it helpful to take a moment and explain the numerous currency values, what a child can purchase with their money and then help them deposit money into a bank account.
Allowing kids to save up change and eventually have it counted at a self-service coin machine can also allow parents to teach valuable lessons about saving and money management skills. Whether children hold onto all their change to save up for a special item or putting money away for the future, it's never too early for parents to start advising them on the best ways to set aside money. Having children keep their change in a jar and taking it to a local bank to be counted once it is full can help them learn to be financially savvy in the future, and they can feel rewarded once they are able to purchase something they wanted or deposit those funds into their bank account.
May 22, 2013