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Boon Yee’s piggy bank.
Times have changed, our school going kids know what they want and they sometimes negotiate with parents about rewards for behaving well or obtaining good exam results (just like MBO or KPI)!
Children might not treasure toys or gifts which come free. Sometimes, they forget parents have to work hard to bring in the money.
POSB’s National Savings survey results indicate that Singaporean still believe savings is still important and virtuous.
(source POSB Survey)
We sometimes remind kids to buy less sweets and ice cream (and pencils from bookshop), and that their savings will grow faster. Every savings start from a coin, a dollar note.
We encourage our own kids to save for their wishlist (be it toys, balls or books). If they really want something, they must save for it. As a form of motivation, we sometimes match their savings dollar for dollar.
Besides sharing positive values of savings, we also hope to impress on kids the importance of thrift.
I am happy to find out that POSB will be bringing the National School Savings Campaign back at a national level. Remember this squirrel? POSB’s mascot Smiley is trying to encourage more school-going kids to save.
(image credit POSB)
To quote from POSB :
POSB National School Savings Campaign will be a 10-month long initiative by POSB, supported by MOE. Together with Smiley the Squirrel, parents can pledge their support for this campaign here.
A main element of the campaign is the savings stamp card as a tool to save. Each primary school student can get their POSB National School Savings stamp card from any POSB/DBS branch, SingPost outlet and at Pacific or Popular bookstores in schools from 02 February 2015 onwards. Stamps will be sold at Pacific or Popular school bookstores and at SingPost outlets.
The student will then deposit the stamp card into any POSB/DBS Quick Cheque Deposit location upon completion (20 x $0.50 stamps). The bank will then credit the full value of the stamp card ($10) and a $1 bonus (the bonus interest is limited to one stamp card per child, per month and only valid for POSBkids account holders).
(image credit POSB)
Digress a bit, our POSB runs over the year. The next time our children see Smiley, they will remember POSB’s National Savings Campaign.
Get on board this campaign today!
Sign up here for an ePOSBkids account if your child doesn’t have one.