Kids Storing Cash

we did different color see-through piggy banks from the Container store. Clear was saving / blue was giving / pink was spending. It has a release on the bottom and was pretty easy to get to. Plus I like the idea of being able to see the cash accumulate.

However, if you're not wanting piggy banks, per say......

What about attaching plastic *folders* or container cups to a bulletin board? That way you could still SEE the money, but it would be easier to handle. You could just put the bulletin board high enough that little sister can't reach.

Alternately you can go "Dave Ramsey" and use regular envelopes in a shoe box. That way she can still "split" her money into categories, but she can then close the shoe box and store out of reach.

Really you can't get money out of a piggy bank easily?All you do with the piggy bank is unplug the stopper on the bottom use a few shakes or your fingers depends on how packed it is with money.I have 4 kids they all were given piggy banks before or after they were born to store money in.As they have gotten older to use a wallet tney are allowed to take some dollars and put into wallet when we go to the store.When the piggy banks become to full I dump them into a ziploc with their name and deposit the money into their savings account have had theior own accounts since babies

In our house, the kids get allowance every two weeks. 10% goes in an envelope for tithe (which is given once a month), 20% goes into an envelope for long-term savings (more if they wish), and the remainder is kept in their wallets for spending or saving as they wish. The envelopes are kept in our room, their wallets are kept in theirs.

They get 50 cents for every year they've been alive. :-) So my 10 year old gets $5 a week, my 11 year old gets $5.50. Raises occur on birthdays, and they can lose money for demerits due to misbehavior.

When they have $50 cash in their savings envelope, we take it to the bank for a deposit.

Best of luck!
♥
C. Lee

ETA: The current Parents Magazine has some articles on teaching kids about money:
http://www.parents.com/kids/responsibility/money-manageme...
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Okay I have 2 kid who are now 6 and 10.
They, since when they were younger than your child, have a "jar" piggy bank. To put coins/bills in.
And they also have a wallet to put things in.
And they have a bank account. Which we need to help them with.
Since my youngest was even younger than 6 years old, we taught my kids about money/saving etc. And there are kiddie books on money, from the kiddie section in bookstores. We have those too.

My kids can put their own money in their own jar piggy banks just fine. Its just a screw top lid.
And they know, what's in it, the amount.
And they also put some money in their wallets. That is to spend. It can be coins or bills that they have gotten as gifts or from us.
And they put some aside to save.
We help them decide how much in each, but we mostly we let them... decide. So they get adept at making decisions.

Even when my daughter (she is the eldest and my kids are 4 years apart) and when her brother was 2 years old, it was no problem.
They knew they each had their own place to put their money. And with a Sharpie pen, we wrote their names on their piggy bank.
So there is no fighting and they do not take each other's money.

Just use some mason jars. Label it with a Sharpie. And that's it.
You don't have to buy expensive things. Just make your own.

My kids, we even let them sell some of their things. And then, THEY got the money from it, we split it up evenly, and they got to save some of it and then spend some of it.

Get a piggy bank that displays how much money has been put in. At the end of the week (or however long you want) make a 'deposit' into the safe for however much she has put into the piggy and reset the counter. The safe then becomes her 'bank account'. If she wants to make a withdraw, you can subtract it from the weekly deposit.

Our daughter was given one of those vintage post office boxes with a combination lock.. She even took it to college.

Here is a good lock box for your child.. and it is only $9.00

http://www.amazon.com/Frontier-Safe-Steel-Combination-Pur...

Isn't that why children have a piggy bank, so that it's hard to get the money out? It goes in the slot and stays there. The child can see the piggy bank, but doesn't go in and out of the money because it's too hard for little fingers. SO... money doesn't get lost around the house and little sister doesn't get into it and play with it.

Dawn

My 5 year old has a piggy bank (well, train bank!) and enjoys putting his money in it. I actually liked that it made it more difficult to access than when we were just putting in a box, until I tried to get something out of it this weekend! I'm so afraid of breaking it and the bottom just does not want to pop off easily. I ended up "floating" my son $1 loan. :)

I do have some of his larger bills in a drawer in my room. He doesn't know about them, but they are his. When we go to the zoo or train show or something I grab that so he has some spending money if he asks. But he's getting smart: he'll ask me if he can have something, and then ask if it is his money he's spending or mine. If it's his, he usually changes his mind!

I hope it's teaching him to make wise decisions and that money - his and mine - isn't unlimited. He is saving for a very pricey lego plane so the request for small items has diminished if I make him spend his own. He does like to suggest that my money should buy his food and clothes and his money should be for toys!

My daughter loves money!! When she was that age she loved the metal cash boxes like we used at PTA functions.

We have the piggy banks (give, save, spend) from Dave Ramsey. Whatever doesn't fit nicely in those goes to the bank to be put into their savings accounts.

My daughter deposits 2/3 of her cash into her checking account. The balance she shoves into a clear mason jar and stashes in the corner of her closet, out of view in case someone not-so-trustworthy happens upon her closet.

Kids can keep their money anywhere, in a shoebox, in a ziploc bag or envelope, in a jar or coffee can, in the underwear drawer, it really doesn't matter. It seems like anyplace away from little sister would be fine.
You could always open a bank account, but I think that's a concept better understood around age 8 or 9.

I got my boys' banks at Mardels, it's called The Giving Bank or something like that. It's one bank, but 3 "buildings", and we decorated them with the stickers that came in the box (we used a glue stick though to make sure it stuck good): one building is a bank, one a church, one a store with fun stuff in the shop window. They've been learning since age 3 that 10% goes to charity/tithes, 10% goes to savings, and 80% is there's to do with as they like. I call out the numbers and the boys both (age 6 and 3) type the numbers in the calculator, I help my 6 year old count out that money, and they get to put it where it goes. It taught them early not only our beliefs on how money should be handled, but how to count, how to work the calculator, the names and values of coins, etc. A couple times a year (as needed) we take our savings part of the money to the REAL bank where they have savings accounts and their little check registers. Savings don't get spent (they will be for bigger things later on----like their portion of a downpayment on a car or motorcycle, etc) but my 6 year old has been saving up his spending money and buying camping gear, fishing rods, gifts, etc since he was 3. My current 3 year old has only bought one thing: an angry birds game from the toystore. We really like The Giving Bank because it's a tangible way to see (it's see through even though it's blue) where their money goes and how it's growing.