Smart Savings

Smart Savings

Money makes the world go around. This is a popular saying because in many ways, it's true. People use money to purchase things they need or want. Adults often work jobs to earn money. Children sometimes earn money, too. They may get an allowance for doing jobs around the house. Some children make money by working at jobs or even have their own businesses.

Spending money can be exciting, but what if you can't afford to buy something? Some of you probably thought, I'll ask my parents for money. That might work, but there's another way: saving money. When you save money, you choose not to spend it. Instead, you keep some or all of it. The money you keep is called savings.

If you keep saving, in time you'll have enough money to buy the thing you want. The amount of money you need is your savings goal. Having a goal gives you a reason to save money and helps keep you from spending it all. A goal isn't necessary, though. Just saving money in case you need it later is also a good idea.

Once you have some savings, where do you put it? Many children put money in piggy banks. These come in all shapes and sizes. Many are shaped like pigs or other animals. You might find one in the shape of your favorite superhero or a character from your favorite show, You can even make your own!

Some piggy banks have a second opening so you can remove money easily, Others you have to break apart. Having to smash your bank might make you think twice about spending the money inside it.