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Coin counters help children encourage saving habits

Coin counters help children encourage saving habits

Children learn many things during their young lives and can learn to save with the help of coin counters. One thing that children learn infrequently, however, is how to save money and invest for the future. In a recent events, American adults are continuing to save despite record improvements in the economy. How can healthy saving habits be encouraged in youngsters and teens? One of the oldest tricks in the book is to save cash and coins in a jar, then take it to the nearest coin counter. When a bank includes coin counters nearby ATMs and other business collateral, it sends the message that the brand is interested in helping its consumers save. As children and teens rarely have credit or debit cards, giving them the option to save valuable cash and reward those efforts with a coin counter is a promising bank feature. It also turns the bank or credit union into a friendly and welcoming place for young ones to learn about investing and finances.

Children and healthy saving habits

Children and teens can learn healthy saving habits in multiple places. This includes the home, school and mentor programs such as Big Brothers, Big Sisters. Coin counters encourage these children to save more money with the help of outside influences. For example, children who bring in coins for sorting will feel accomplished seeing their patience and hard work rewarded with a stack of bills. As an influence, bankers can also use these opportunities to sit down with both adults and children to talk about savings plans for the future.

Which coin counters are most effective? A good coin counter should be fast, easy-to-use and legible so turnaround for any individuals coming in to exchange their items is quick and efficient.

According to Bank Rate, people are becoming more frugal every day. Using a method such as coin counting for children and goal-setting for teens will help them be ready for a financially frugal future.

How can children be encouraged to save daily? According to Money Crashers, kids can be enticed to save with goal charts and different colored jars with how much they'd like to save. Small local banks can develop small programs for parents and children, such as a game night for children with money-based challenges. With these developments and coin counters, banks can create healthy savings habits for children of all ages.

April 6, 2016