Gifts for Kids

r children save a portion of every dollop of pocket money they receive? Or are they more likely to blow it on lollies and cheap toys? It’s never too early to begin a child’s education in the proper use of money – and their own savings account is a terrific start!

Opening childrens account or kids savings account is probably the easiest way for you to teach your kids how to save for the future. So here are the top 4 tips you can follow to effectively teach your children how to save money.

Let Them Open Their Own Kids Savings Account

Most parents open childrens savings account for their kids. Often the account opening amount is a present from a parent. Although this is a good step to teach children how to save, your kids might not understand the value of their kids savings account. They may miss the point, that their money will grow when placed in a children’s saving account.

What you should do is to talk to your children and discuss about the benefits of a kids account. Then you should accompany them to the bank and let them open their own children savings accounts.

This important financial step can have a big impact on your kids. With patience, any youngster can learn the benefits of regularly feeding their savings account.

Give a Matching Bonus for Your Kids

Once your kids have their own childrens account, you must encourage them to regularly deposit whatever savings they have. One way of enticing a child to regularly fund their kids savings account is to give a match bonus for any amount deposited in the bank.

For example, you can give a 100-percent matching deposit to your childrens savings accounts for every dollar saved. This contribution will greatly encourage your children to regularly deposit money in their childrens savings accounts.

Teach Your Children to Set Goals and Priorities

If your children want to buy something, you should teach them how to prepare for the purchase. Further stimulate their saving by mapping it on a chart, and placing the chart where they can see their savings growing.

Teach them to set goals so they can focus on their upcoming purchase. Help your children with their savings plan by showing them how to focus on a particular goal. This way, they will be more conscious on their spending habits and they could monitor the growth of funds in their childrens savings accounts.

Lead by Example

It is best if you can show to your children that you are saving too. Take them with you when you visit your local financial institution, and demonstrate your own investing.

A child will be encouraged to fund his or her kids savings account if parents show that they too are saving money in the bank. So better lead by example so that your kids will make it a habit to regularly deposit money in their childrens savings accounts.

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What started out as a dream, turned out to be the most beautiful reality for Kurt Penberg. He believed that personalized children products would make a great business idea and thus he put the basis of the successful company he runs today, named Kids Juke Box. It was in San Diego, California that this idea took birth and in the same place where it was operated for the first time. Kurt Penberg took his CD with personalized music and the incredible selection of 800 names, presented it in a shopping mall and instantly knew he struck gold. That is one incredible story and certainly one incredible man.

It didn’t take too long for Kurt Penberg to diversify his product line and develop even bigger ideas for the future. The personalized music revolution continued and the number of CDs grew, just as the list of names included for the increased personalization process. It took a lot of great effort, hard work and tenacity but the results appeared. In just a couple of years, the names of Kids Juke Box and Kurt Penberg were on everybody’s lips when it came to personalized products for children. The number of CDs had reached 13 by the year of 2003 and amazingly the music collection encompassed over 2000 children names. Trying to satisfy everyone, including from a language point of view, Kurt Penberg demonstrated once more his intelligence by producing personalized music CDs in more than one language.

Kurt Penberg did not have the recipe for success from the beginning but he quickly figured out the main ingredients. He realized that it was impossible to succeed without constantly improving his company and most importantly, his products. Kids Juke Box continued to grow under his constant and close supervision, developing new product lines and thus increasing in popularity. Kurt Penberg started to pay attention to the modern story books and came up with an entire line of personalized story books on compact discs. This time, there were over five stories, with an amazing number of 8000 names and five languages to be presented in. It was definitely a recipe for success and Kurt Penberg knew that perfectly well.

Another crucial detail for Kurt Penberg was to obtain a license for all the products he had invented and produced with care. It was the start of 2005 when Kids Juke Box released on the market personalized products for children that were licensed and another moment when Kurt Penberg realized how many great things he has accomplished. Two years later, Kids Juke Box became a partner of important names such as Marvel Entertainment and Care Bears. The contract signed by Kurt Penberg stated that new and personalized products will be released on the market, representing the main characters of the companies mentioned above. It proved out to be the beginning of a beautiful friendship, the agreement increasing even more the popularity of Kids Juke Box and of its founder as well.

Kurt Penberg did not stop at personalized music CDs and story books. Adapting to the needs and requirements of children and parents, he started to include other exciting products just as personalized. These refer to popular ringtones, growth charts and poems. The patented technology of Grab and Go has also brought Kurt Penberg into the spotlight, many retailers being interested in the advantages it brings. Just imagine, being able to commercialize personalized products with even caring about the names. The huge selection of names presented with every personalized product has clearly proven that Kurt Penberg is a man that knows that flexibility means. It just goes to prove how important it is to follow your dreams and believe in your inner strength!

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