Do you remember your first piggy bank? Here is a story I came across and thought you would love.
“This was a time when a dad used to pick up his son from school. They used to buy ice cream every day
from a nearby vendor. We will know how Piggy Banking Your Finances help you and your family grow.

On one such extremely hot day, they couldn’t find their usual vendor. They
stopped by a supermarket and bought ice cream, which was slightly more expensive than what they
normally bought. The dad told his son, “It is expensive.” And to his surprise, his son replied, “What is the
difference?”

That is when it hit him. He couldn’t explain the term expensive to his son. ‘It’s time to get him
THE PIGGY BANK’, dad chuckled.”

Each time the son opts for a less expensive option, he gets to save the difference in his piggy bank. It
also taught him about budgeting and saving something he carries with him to this day.
But why this story now? Yes, Financial Literacy!

As parents, we play a key role in teaching our children about financial literacy. I believe that financial
literacy starts from home and everyone in the family should be financially literate and should focus on
developing a strong grasp of money management.

By doing so, families can develop good financial habits that can last a lifetime. Giving financial literacy in the family can be done in many ways.

Rule of Piggy Banking Your Finances:

  1. Be the role model.
  2. Engage children in financial decision-making.
  3. Making them understand financial concepts like budgeting, saving, investing, debt management etc.
  4. Encourage saving and investing by providing incentives like matching contributions or a portion of investment returns, parents can encourage their kids to save and invest.
  5. By encouraging financial literacy within the family, parents may set a good example for their children and help people develop healthy financial practices from a young age.

Needless to say, when it comes to investments, we have the best team in town to assist you!

You can also refer your friends and relatives to our team of experts for custom-built portfolios and any queries with asset management, please contact us at [email protected].

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