Teach your kids about money with Seattle's clever Moonjar banks

Our nation’s credit economy is boomeranging on us, from the national to household level. New debt and default fires seem to break out daily. Without intervention, we may be setting up our children for equally bad habits. And you don't want your kids to turn out like the ones in this disturbing New York Times article.

One solution might be found in the Capitol Hill neighborhood, where Moonjar sells their award-winning tin moneyboxes ($24.95). The Moonjar's three separate slots give kids choices: spend, save or give. Kids can glue photos or drawings onto each section to help them visualize their goals.

“I think they need to understand that you need to put some money away in savings, even if it feels like you have less,” says Mary Ryan Karges, a director at Moonjar. “And the giving part of financial literacy is just as important as the saving part.”

Moonjar’s tiny storefront offers the moneyboxes, in addition to picture books to help parents start financial literacy conversations, stuffed animal characters from the stories and an animated CD for the family PC.

Karges says they’ve been fielding plenty of questions lately. Most inquiries are from parents interested in supporting their children’s financial literacy, through banks and books. “The thing I love about the Moonjar is that they can make a choice,” she says, about how they allocate their coins and cash. “There is an intention.”

Using money wisely and well -- first, we start with the kids. Then we start on our business and political leaders. Who would you send a Moonjar to?

Copyright © 2009 The Seattle Times Company