How to Start Teaching Children to Save Money
Teaching children to save money
Money is a big part of life. Just about everything that you do involves some sort of exchanging of money. Yet a big percentage of adults haven't a clue how to handle their money. That's probably because financial literacy was never really a part of the curriculum in school. Therefore, if you want your children to grow up to become smart about money, you need to be willing to be the one to teach them about it. Because financial literacy for kids really does start at home.
Start Teaching Your Kids About Money Early
As soon as your children are able to count, you should give them some money to count out loud. Whether it's real or fake money doesn't really matter. The important thing is for them to get used to counting it all.
Make It Fun
Kids are all about having fun. Hence, if you want your children to become literate about money, you'll need to find a way to make it fun for them. Incorporate money into play time. You can set up a pretend store, and have your children be either the customer or the cashier. This will teach them that money is valuable because it enables them to buy things.
Teach Them About Saving Money
Once kids have learned the power of money, they are often eager to start spending. That's why it is important to start teaching children to save money early. Show them that when they spend their money on random things, they won't have enough money leftover to buy the things that they really want when they want it. Not sure how to introduce the concept of saving money to your kids?