The savings rate in our country became positive in 2009 for the first time in years.  This means we actually spent less than we earned as a society.  It only took the worst recession since the great depression of the 30′s, and double-digit unemployment as our slap to the back of our head. (You NCIS fans know about slaps to the back of the head).

So now folks are scrambling to learn how to live on less than they make, and save for a rainy day.

So how do we keep this trend going, especially after the pain of this recession fades from our collective memory.

One way is to teach our kids the benefits of saving, and learning about the benefits of compound interest.  One Website that is designed to help is  “Three Jars”.  The theory here is that money given to kids, such as allowance or money for chores is submitted electronically to the Three Jars site.  The money is then divided into savings-50%, spending-40%, and giving-10%.

The spending money is available for the kids to use either with cash or card.  There is an option for the savings part of the account to earn interest.  The site is kid friendly, allowing them to check balances and to learn about money.  Now there is a charge of 30 bucks per family for the service.

The money in the giving jar is available to send to the charity of your choice or one of several national charities that are accessible through the site.

Now for you thrifty folks, can you do the same with a little effort, without going online, and paying thirty bucks?   Of course, but whether you spend the amount of time it takes to teach the kids about money, will be up to you.  And thirty bucks a year seems reasonable for the lessons learned.  And we all know kids are more motivated by a computer screen than a piggy bank….

So what are your thoughts?  Did you get an allowance?  If so, were you encouraged to save part?  Were you encouraged to give to charity?  And if you have used, or know someone who has used Three Jars, let us here from you.