Holicent
VIP Contributor
Saving money is an important skill for kids to learn. Not only does it help them have more control over their lives, but it also teaches them the value of money and how to spend responsibly. You can help your kids start saving money by getting them involved in various activities that require a financial investment upfront (such as sports), or by making saving fun with games like piggy banks and jars. Here are some easy ways to teach your kids how to save money:
1. Have your kids set aside a certain amount of their allowance each week so they can save up for something they want. You can also encourage them to make small deposits into this account every time they get paid.
2. If your child wants something like a new toy or game, have them work out how much they need to save up before they ask you for it. This will give them an idea of how much money they need, which will help them make better decisions about how much they should spend on other things.
3. You can even set up an automatic transfer from your paycheck into their savings account each month so that there's always some money in there for emergencies or unexpected events such as birthday parties or vacations.
1. Have your kids set aside a certain amount of their allowance each week so they can save up for something they want. You can also encourage them to make small deposits into this account every time they get paid.
2. If your child wants something like a new toy or game, have them work out how much they need to save up before they ask you for it. This will give them an idea of how much money they need, which will help them make better decisions about how much they should spend on other things.
3. You can even set up an automatic transfer from your paycheck into their savings account each month so that there's always some money in there for emergencies or unexpected events such as birthday parties or vacations.