Holiday gift idea: Money-minded toys
The Virginia Society of Certified Public Accountants (VSCPA) donated 100 piggy banks to Toys for Tots, teaching children to use money, make change, and accrue savings this holiday season. If you would like the lessons your children learn to last longer than the toys they receive, Virginia CPAs recommend giving gifts that teach financial concepts this holiday season.
In addition to the piggy banks donation, VSCPA chapters statewide participated in a toy drive to collect money-minded toys. More than 100 children around the state will receive money-minded toys this holiday season thanks to Virginia CPAs.
Toys that allow children to play "grown up" have always been popular. Now, children can play with toys that allow them to make withdrawals and check account balances at their very own ATM machine using a secret Personal Identification Number (PIN). Other money-minded toys include board games such as Monopoly, LIFE, and Pay Day, piggy banks, toy cash registers, safes, money play sets, money-themed books, coin collection sets, bubble gum machines, and money sorters.
Virginia CPAs say that whether or not a money-minded toy is under the tree this holiday, the most important gift you can give your children this season is a lesson in smart money management habits. You should explain saving, investing, donating, and spending in terms your children can understand.
The VSCPA's gift to Toys for Tots is part of its pro bono financial literacy initiative to improve the financial health of all Virginians. Called Financial Fitness, the award-winning campaign is part of a national effort of the CPA profession to reach out to the community and educate the public — from school children to retirees — on topics related to money management and fiscal responsibility.
Find more money management information and free financial resources for children and young adults by visiting the VSCPA's consumer Web site.