5 Reasons Why I Bought My Kid a Coin Jar: Teaching Children to Save Money

 

 

You may have read the backstory to this purchase, in ‘When a Good Idea Smells Like Cinnamon and a Fart‘:

 

When a Good Idea Smells Like Cinnamon and a Fart

 

Quick recap:

 

I purchased a counting vessel, for storing my children’s coins. The story itself is a bit long-winded (pun intended), but it’s meant to be light and airy, and leave you with a laugh.

 

In this post, I cover the ‘how’ the coin vessel I wrote about accomplishes what it sets out to do (measure coins and keep track of the total), along with the ‘why’ (5 reasons why I bought it in the first place!).

 

How does it even measure the coins in the first place?

Simply by measuring the size of the coins inserted.

As a coin gets pushed in by little hands, the force required to get it in pushes a lever over. In this way, the jar measures the size of that coin and knows the denomination, since US coins measure different sizes! Wow, physics!

 

If you’re dubious in any way, know that the US Mint confirms this. Per a reference website (and check out the Mint’s graph showing actual sizes!):

 

According to the United States Mint, the purpose of having different sized coins is to make it easier to identify them. The size of a coin is not determined by its value, as demonstrated by the fact that a nickel is worth less than a dime but is larger in size.

 

 

 

 

Why I bought it.

 

 

Here are my reasons why (& if you can think of any additional ones, weigh in below!):

 

 

Reason #1

It teaches kids to value money!

When they collect it, they’re actively engaged in valuing it. It becomes ‘theirs’ so it means more.

 

 

Reason #2

It teaches kids the value of the smaller things in life!

Just because a nickel is worth a mere five cents doesn’t mean it can’t have value. Especially when pooled together with its other nickel friends. Cumulative worth takes our savings a pretty long way. I could segway into lessons from a metal detector here, but I’ll spare you that one, as I’ve never actually done this, although I’m sure others have..)

 

 

Reason #3

It teaches the kids to save!

As they watch vessel fill up, the number on top gets bigger right along! Soon, pennies and nickels turn to into a small child-size fortune, and little Joey has enough to buy his favorite toy! An otherwise unaffordable toy (we’re talking piggy-bank affordability here, bear with me) becomes affordable to their delight.

You can also recite a famous quote to them, uttered cleverly by the one and only, Warren Buffet:

 

“Don’t save what is left after spending; spend what is left after saving.”

 

 

Reason #4

It teaches the kid physics!

Different coins made of different sizes? Who knew? Now you’ve got a cool teaching point and an instant demonstration to boot.

 

 

Reason #5: (the neat-freak’s favorite!)

It helps get rid of loose change!

Our kids essentially become Coin-Hoovers. That’s where, instead of lying around our countertops, accumulating, the change magically disappears, now lying inside their new home: the change vessel. Voila: a win-win!

 

 

Cool.

 

Warren Buffet famously said, 'Don't save what is left after spending; spend what is left after saving.' Now it's time to pass this concept on to our #children. Click To Tweet

 


 

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A Coin Vessel stands in the background of the darkened image, with the article title in the foreground.

5 Reasons Why I Bought My Kid a Coin Jar

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