In high school my husband must have been desperate for a date because he took a ceramic class for the sole purpose of meeting girls. What resulted from that class is a terribly ugly piggy bank that my son has inherited.
My husband didn’t realize that his attempt to get a date in high school would one day play a huge role in developing his son’s financial foundation. Every few months the piggy coughs up his coins, my son rolls them, and then we make a trip to the “big bank”.
Yesterday was International Credit Union Day. I only know this because I actually have time to read the newsletter from my son’s credit union. It was the perfect day to make a little piggy deposit. They gave us a cup and cookies…which we promptly ate. My son even got to enter a coloring contest..the prize is $50.00. That’s “a whole bunch of money” as my son puts it. He’s right.
I had to laugh one day a few months ago when I mentioned going to the bank to deposit his coins. He informed me that the bank was closed because it doesn’t have money anymore.
He had been listening to the news reports about banks going under and he really must have thought they were talking about HIS bank. I had to explain to him that his bank is still open and there are lots of other banks in the world, some of which are having financial problems. My son will not start his life wealthy, but at least he will have a better start than his parents did understanding and comprehending the financial system. There is lots more to learn, but for now I’m just excited that my 4 year old son knows what the definition of saving is instead of just spending!