Multi-colored ceramic piggy banks © Andy Roberts, OJO Images, Getty Images

My 6-year-old daughter loves her sparkly piggy bank, but she loves searching for abandoned coins even more. She has no qualms about picking up pennies from germ-ridden floors.

Her concept of money is still pretty shaky, but that doesn't stop her from regularly dumping out her $18.60 in coins to count and admire.

My husband and I know it's time to develop a savings system with our daughter, but where do we start? From elementary schoolers straight through the teenage years, I spoke with a few savers and their parents for a peek at what other families are doing:

Coco, 6, Chichester, N.Y.

Coco painted her own piggy bank.

Coco's accomplishments: After saving up change and the money she's been given for birthdays and holidays, Coco has managed to save a whopping $2,400!

How she does it: Like my daughter, Coco collects all the loose change she finds and keeps it in her piggy bank, which she hand-painted at age 3. Last January, the family decided it was time to open an official account in Coco's name. They paid a visit to their local bank and Coco laid out her plastic baggies filled with change on the wooden desk. She and her parents have agreed that her savings are for college, although Coco currently insists she won't go away for school because she wants to stay with her mommy.

Vivian, 7, Bethesda, Md.

Vivian splits her money into savings, spending and charity.

Vivian's accomplishments: Vivian saves her allowance in three buckets, for saving, spending and charity. Because she has been diligently stashing funds away, she has been able to buy fun things for herself, like doll accessories, hair ribbons, charm bracelets -- all from her own money. Recently, she contributed her own money toward her little brother's birthday gift.

How she does it: Vivian started getting an allowance when she was 5, with a dollar for every year in her age. So, as a 7-year-old, she receives $7 a week. Vivian's allowance isn't tied to chores. Her mom Susan says: "I don't want my kids to ask how much I'm going to pay if I ask them to do a chore that is not on their standard list."

Susan hopes this system will teach Vivian how to manage her finances. "It seems like a lot of money each week," she says, "but she will be responsible for paying for more and more stuff, even stuff that I probably would have spent on her anyway."

Clark, 10, Chevy Chase, Md.

Clark used his savings to purchase Lego sets.

Clark's accomplishments: "I save for whatever I want to buy," says Clark, a Lego-loving 10-year-old. With over 30 sets, his room is getting close to capacity. But he's not done. "I'm saving for the Lego Museum, which is $59," he says.

How he does it: Clark has been saving money from birthdays, holidays and chores since he was 6. (He helps his parents with vacuuming, cleaning his room, setting the table and making his bed.) Clark divides his money between his wallet, a plastic mini safe and a piggy bank. "Every week or so I count my money," he says. With $26 saved, he needs another $33 before he can buy the coveted Lego Museum. "That's a lot of chores!" Clark says.

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