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    Posted May 5, 2012 by
    Masterwraper
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    This iReport is part of an assignment:
    Eye on the Philippines

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    Pig teaches kids how to handle money

     

    Teaching kids how to save money is never easy. More often than not, children would want to spend allowance money on candies, stickers, toys or gadgets almost immediately after receiving it from their parents. Usually, it is the children who are more vulnerable to the temptation of spending cash on personal luxuries.


    To encourage the practice of saving money, there is a need to show children the benefits of keeping their cash. Once they understand the concept, it is easier to make it a habit.


    Thankfully, there is a tool developed specifically to help kids learn about money early. Developed by entrepreneur Mr. Rommel Juan and made by differently-abled staff from Bahay Pangarap, the Kiddie Entrep Piggy Bank offers a smart way of educating young minds about wise saving, investing, donating and spending.


    At first glance, the wood and plastic appearance of the Kiddie Entrep Piggy Bank makes it similar to the common piggy bank. However, the big difference is that it has four coin slots dedicated to four individual compartments. Made from clear and durable plastic, the compartments are emblazoned with easy to read labels; SAVE, INVEST, DONATE. SPEND was placed last to teach kids that there are other uses for money other than spending.


    This visual representation of money decisions will help kids understand their financial choices. SAVE will persuade kids to "pay their piggy bank" before they even think about spending. INVEST can show children how money can grow over time if invested wisely. Basic introductions to the world of business or the stock market can start from here. Learning takes time so it’s better to start slowly and gradually. DONATE will encourage kids to "give back" to their favorite community organizations or charities. SPEND will greatly explain the difference between "wants" and "needs" by having kids buy the things they "want" with their own money. The practice will make them careful about their purchases.



    The Entrep Piggy Bank was initially designed to teach Mr. Juan’s kids how to handle money. It’s simplicity and ease of use makes it easy for young minds to understand basic money matters. No wonder the product became the best seller in last year’s Kiddo-preneur Bazaar at the Rockwell Clubhouse.


    The Kiddie Entrep Piggy Banks, priced at Php500 each, are exclusively available through Juantrepreneurs (cousins namely Maxine, Francine, Carrine, Elias, Roque and Max Juan). You can order by emailing juantrepreneur@gmail.com.

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