Innocence and Training

My three year old, Claire, just found a penny and wanted to put it in her ladybug bank. She said she's saving for a car. She also told me she had "a green one" in there too! I was very excited to use this as a learning experience, not just for her, but for me as well. I told her she had an account at the bank and if she put her "green one" dollar in the bank it would grow bigger and help her save for a car.

I've told all our children if they save money for a car, Daddy and Mommy will pay for the other half. Dave Ramsey calls it 401K Dad.

She asked where the bank was and I told her it was on the computer. Her account is at ING Direct. So she sat on my lap and we logged in. She looked for her name and found it on her savings account. I transferred a dollar from our savings account to her and told her she now had more money in her account. Then I took her real one and put it in my wallet to deposit back into our savings account.

She looked a bit sad, but she'll thank me later!


  1. Shay,

    Very interesting so far. Any time you want to talk money and psychology with me I'll jump at the chance for conversation with you! You have great ideas and lots to share! I'm wondering... did Claire really understand that her "bank" was on the computer and not just that you took her dollar? Would it make it more clear for her if she actually took her dollar into a bank building and handed it to a teller and then got a receipt? Also, have you found a bank that has a free kids savings account without limits or charges on transactions?


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