Did you know it costs over $160,000 to raise your child? Since you get what you pay for, find out how piggy banks save you money, give you a good return on your investment, and build character too.

You can't get something for nothing. Don't let your child get something for nothing either. Teach your child to fill his piggy bank by earning his own money. How? By chores, good grades, and working for your friends, relatives, and neighbors. If you do, you'll be teaching him the value of hard earned money.

7 Parenting Tips for Building Character with Money and Piggy Banks:

1. Don't accept IOU's. You don't want to become his credit lender.
2. Avoid giving him money just because he asked for it.
3. Brainstorm with him what he'd like to save his money for.
4. Brainstorm with him ways he could earn the money.
5. If you're able, match the money he saves. If he saves a dollar, you match it with another dollar. If he doesn't save it, don't match it.
6. Brag out loud (within his earshot) to friends and relatives about how well he saves.
7. Encourage him to buy little thoughtful presents for others at Christmas and for others' birthdays.

Conclusion for Money, Character, and Piggy Banks:

Raising a generous child who knows how to save for special things is an excellent return on your investment. When he earns his own money he won't be begging for yours. You'll be teaching him to save for rainy days when others are broke. His character will grow and you'll have taught him how to survive and thrive.