Piggy Banks

Last week I was presenting to a group of parents at a local church. Before I went up to speak it struck me to ask them, "how many of you had a piggy bank growing up?" Every hand in the audience went straight up. I then asked them, "How many of you regularly were taught to put money in your piggy bank and save?" Every hand stayed in the air. Then asked them, "Now as adults, how many of you save money the way you know you should?" Every single hand went down.

Isn't it interesting that so many of us were taught to save money, but so few of us do it. I have a theory... It is because "to save" has no intended consequence if it is not done. Children and adults respond to consequence. "If you do not eat dinner then you will not get desert." "If you run the red light you will get a ticket resulting in a fine." We respond to the consequence to create a positive habit.

Why do we go to work? Because, if we do not then there will be potential disastrous consequences for our lives. Why do we lock our doors? Why do we go to school? Why do we have our kids do their homework? Why do we do anything that requires disciple, if it is not to better ourselves and protect ourselves from negative consequences. Consequences are a large part of the decision making in human nature. This is why the third rule of money for kids is written: "If you spend all your money you will not have any left."

When a child is operating in the Moola Monster System they learn right away what this means. When they do not have any money there is immediate consequences to what they are able to do. Teach your children how to understand the consequence of not saving very young. If they spend all they have, they will not have any money left.

All the Best,

Grant Magers
CEO
Moola Monsters, LLC
www.moolamonsters.com