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Making a Piggy Bank

Category: Crafts | Age Group: 5-7

TOPIC:

Saving Money

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RESOURCES NEEDED:

You will need an empty plastic pop bottle, scissors, 4 empty yogurt containers, glue, marker, 2 pieces of macaroni, coloured paper or felt, and a pipe cleaner

LEARNING OPPORTUNITY:

A piggy bank is a great way to encourage kids to save money at a young age. It can help them get into the habit of saving money by putting a little bit in their piggy bank on a regular basis. It can also help with teaching your child about setting goals—and how, by saving, your child can plan to reach a goal. If there is something your child wants, talk and work with your child to make a plan to save enough to be able to buy it.

The activity can also teach your child about recycling by using items around the house for a new purpose.

You can also use this as an opportunity to talk with your child about the resources that are usually used to make things—labour skills and talent, physical resources (e.g. the bottle, glue, marker, etc.), equipment (e.g. the scissors), along with creativity, innovation, and technology.

You may also want to talk about entrepreneurs—who are people who use “enterprising skills” to make new things, develop new ways, and start and run businesses to produce and provide products and services.

THE ACTIVITY:

Making a piggy bank can be a fun part of your child’s “savings plan.” It will require an adult to supervise. The activity is described in detail on the Bank of Montreal’s “Smart Steps for Parents” program. Open the link below to get complete instructions as to how to make the piggy bank. www.bmo.com

TIP/SUGGESTION:

You may want to challenge your child to think of a different kind of bank to make. That is, they can learn about following directions to make the bank described in this activity. They can also be challenged to be creative and use their imagination to think about, and maybe design and build, a different kind of bank to save money in.

POSSIBLE FOLLOW UP IDEAS:
  • Open the following Bank of Montreal website to see more ways to teach money skills through games, puzzles, and crafts — www.bmo.com
  • Take a look around your community and talk about some of the entrepreneurs that have started up businesses to provide products and services to people in the community.
  • You might want to have your child open up a savings account at a financial institution. You can talk with your child about why that might be a good idea (e.g. keep money safer, earn interest on savings, etc.). You can talk with your child about why a financial institution pays money to those who save money.