Has any one saved in a cash can?

Debt_Free_Chick · 19 May 2006 at 12:59PM

K9cuddles wrote:

I still disagree.. but then having an argument over cash cans is pretty sad!!

:rotfl: :rotfl: :rotfl: :rotfl:

dora37 · 19 May 2006 at 1:07PM

Joe_Bloggs wrote:

@dora37
I think you should pay your DS some interest on the money saved to illustrate the interest principle. There are some excellent young savers accounts around with impressive interest rates and banking facilities.
J_B.
You new you were poor when your mum put an IOU in your piggybank.

He already has a savings account which has his pocket money paid straight into and just draws when he needs something - which has a favourable rate of interest.

The cash can has a novelty factor for him and he has chosen to put £1 coins that he gets along the way (ie grandparents for sweets etc) in it. He saw it as a challenge, that he has persevered at and now he will pay it into his account, unless he wishes to buy something.

Teaching children about saving doesn't always have to be about the best interest rate. However the principle of saving his money (in whatever form) to be able to afford the things he wants IS a vital lesson.

We obviously are going to have to agree to disagree.....I think basically we agree saving is good....teaching your children to save if they want something is good...sometimes children (& adults) need to feel they are sometimes doing things for fun too otherwise they probably wouldn't do it and that would be a shame!

dora37 · 19 May 2006 at 1:09PM

K9cuddles wrote:

I still disagree.. but then having an argument over cash cans is pretty sad!!

Argument is a bit strong.....maybe a debate!

K9cuddles · 19 May 2006 at 1:38PM

dora37 wrote:

Argument is a bit strong.....maybe a debate!

True.. But look what MSE has done to us!! :rotfl:

dora37 · 19 May 2006 at 1:50PM

K9cuddles wrote:

True.. But look what MSE has done to us!! :rotfl:

We obviously haven't got that Friday feeling!:j

savingpennies · 19 May 2006 at 10:27PM

But saving isn't always about the interest we can earn. It might mean saving towards a particular item. It may also be that all you can afford to save is coins. Any kind of saving is good and if you can see it mounting up in front of you surely that's providing some kind of incentive?