How to teach your kids to save

Photo credit: Google Images

Don’t you feel that your ears are just about ready to pop, because you tween daughter keeps egging you to buy her an HTC desire for her upcoming birthday?  In today’s difficult times, everyone in the family has to understand the value of money.  We should try to make our kids realize that money doesn’t grow on trees.  Anything they want, they have to work hard for, or save up for.

How do we teach them to save?  We could start with the proverbial piggy bank.  Encourage them to make it a practice to put aside even just a tiny amount from their daily allowance.  In a month or so, they’ll see how the little money they set aside each day can grow into something they could use to buy their extra wants.  When they’ve saved up enough, you could help them open up a bank account.  Then, they’ll really understand a few money mechanics, so to speak.

 

Comments

  1. OSeñorita says:

    That’s how my parent’s taught me to save. I remember saving half of my daily allowance and money gifts. Then I’ll use that money to buy whatever I want. And I am teaching the same with my children now.

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