Teaching your kids about saving money from an early age is super important if you would like them to eventually become down-to-earth adults. We're not saying they have to start worrying about this issue as kids, but they can have fun with it as they internalize responsible practices, get empowered, and help secure a successful future for them!
Here are some ideas on how to impart this super valuable knowledge to your littles!
- Start with a super cute Money Bank. This is a simple and fun way to get them to start saving! It can be a game where the goal is to fill it all the way up, and then they can choose and get their own prize.
- Work on a Visualization exercise, where they can draw a picture of what they want to get and write its cost next to it to understand the value of the things they want
- Use Labels to keep track of what they are saving for and how far along they are
- Be a Role Model! Get you own money bank and your kids will most likely imitate your actions. It is undeniable that children learn by example, and it is their parents' job to be the best example they can be for their littles
- Use innocent questions to start a conversation. When your kids are starting to grasp financial concepts and asking questions about it, see it as a teaching moment!