Savings Plan

We have started a savings plan for the girls that they can be involved in. We have a bank account for each one that we put birthday money and such in their account along with some tax return money. I also wanted to do something with the girls that they could be involved in. Thanks to a post on a friends blog Kari's Quads I got the idea to get the girls involved in their own savings. Now each week I save all of my change and divide it up for the girls to put in their bank. I had the hardest time finding a plastic piggy bank. Everything we found was ceramic and I knew the girls would not be gentle with their banks and ceramic would not work well. Today I found these electronic banks that counts how much money you put into it. I think it is amazing how technology has changed how you save and I think the girls will love seeing their totals grow. I bought some stickers so the girls can decorate their own banks. I hope they have a good time personalizing their banks.

We also plan to give the girls an allowance that they can also put in the bank. Each pay day we will give them an allowance that is double their birth years. So starting on their 2nd birthday they will each get $4 every other week to put in their bank. As they get older they will do chores around the house to earn their allowance. If they want to save an portion of their allowance, we will match what they save. I want to teach the girls the value of money and the value of saving. Hopefully we can help to teach them good savings practices that will help them in their future.