Do you talk to your kids about saving? How do they earn their pocket money?
My boys took part in this really sweet online video campaign for NatWest featuring young children talking about money and their attitudes to saving.
I sat in on the filming and it was so funny to hear some of their ideas about where money comes from (the cash machine of course!) and how much it might cost to buy a house in the future (between 2p and £600, apparently).
Despite some of their ramblings on camera, the babes are well-schooled on the need to store your cash for the future — i.e. the end of the week when you can exchange it for a toy that breaks in minutes!
As revealed in the video, we give them pocket money (10p for Jed, 20p for Ezra) when they do their chores and most of it actually does go into their ‘savings jar’.
We think it’s essential for kids to learn as early as possible that money doesn’t grow out of our wallets, you have to work for your rewards and that if you save your cash, the rewards can be greater in the long run.
Ezra figured this out to his delight when he managed to save enough to buy himself a new Skylander! Now he does his chores without hesitation. Kind of.
About Pigby & Friends
The video is a promotion for the new NatWest First Saver account for under 16s. The account marks the return of the NatWest pigs, familiar from the 1980s, given a makeover by the team behind Wallace and Gromitt.
Aardman Animations drew inspiration from the iconic pigs to create the new piggy bank range, Pigby & Friends, based on a drawing by 13-year-old Kwamina Longdon who won a national ‘pig design’ contest. Aardman Animations have also developed an educational app teaching kids about saving money.
The NatWest First Saver account is open to children under 16 and they’ll earn 1% on balances under £25,000 and 0.5% for balances over this amount. It’s an instant access account which means that savings are not locked in – helping children to balance saving versus spending.
NatWest will also provide First Savers, and their parents, with fun savings tips and tricks, initially through a welcome pack and ‘Pigby’s savings zone’ online portal.
And of course every child who opens a NatWest First Saver account gets to request their very own Pigby bank. Isn’t he cute?
In association with NatWest