Explaining Mortgages to a Class of 6 year olds

Parents of Eden' Grade 1 class were invited to make presentations about what they do for a living. I do mortgage presentations often, but this one was by far one of the most challenging. How do you explain to 6 year old kids what a mortgage is? I wondered. 

After bouncing ideas off people, I realized that all kids of that age know what piggy banks are. So I made up an exciting storyline supported by animations and props with the following main takeaways: 

1. I help people buy houses by giving them piggy banks full of the money needed to buy the house

2. BUT I also give them a 2nd piggy bank with no money in it. They would need to put some money in it every month. That's called a "Mortgage Payment!"

3. One day, they would have to give back the piggy bank once they've saved enough in it to pay back the money that was in the 1st piggy bank

Then I said: "The piggy bank I give that contains money is called a mortgage! Repeat after me! MORTGAGE they all said excitedly.

Every kid went him with a branded piggy bank and a $2 coin inside it. Hopefully that gets them started saving towards their 1st home. :)