Although the holidays are just around the corner and we live in a capitalist society that thrives on debt (the U.S. is, after all, the world’s biggest debtor), there is no harm in trying to inculculate the habit of saving that is so important when a child is still young. Most kids these days do not know how hard their parents toil at work and at a business, only to think that money literally grows on trees. The Children’s ATM Bank from Hammacher would be one of the better $39.95 investments that you plonk down in your kid’s life in order to give him/her a sense of achievement when they have managed to save up a certain amount of money while preventing them from blowing it all in a moment of frivolity.

The Children’s ATM Bank looks like a mini version of the electronic teller machines you see out there, and has a maximum savings limit of $999.99. All the child needs to do is to insert real coin and currency deposits, where the on-board computer will then perform a quick calculation and give an updated report of the account details. This takes the hassle of of counting every single coin and note whenever you break open the porcelain piggy bank to purchase that new game you’re desperately wanting.

It even comes with its very own ATM card as well as PIN number which can be used to check out on the account balance or when making deposits and withdrawing funds. This educational toy also helps kids with their mathematics as they have to enter bill amounts separately. Powered by a trio of AA batteries, the Children’s ATM Bank is a winner this Christmas. I wonder if this can be programmed to accomodate different currencies like the Japanese Yen, the Euro, and even the stubborn Sterling Pound.