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Introduce the Children About Saving Culture

Updated on December 17, 2009

Money is not everything. But, without the money of our lives would be more difficult to live. As parents, we certainly want our children have financially independent and skilled in managing money. As a teacher I always give suggestion to my student. One of my suggestion is how to use money wisely. There is a subject in my lesson talk about it. How can we life frugally? In my place a parent usually give their children a pocket money to buy some food and drink in the school canteen. Maybe we can't find it in US, because the lunch was served in US school. This is a culture in my place. Start from $0,1 up to $0,5 for elementary student. As children they spend all the money. This is naturally. But, when we don't train it start from the beginning, I am afraid it also carried in the future.

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The greater influence of electronic media and the various influences of the environment surrounding us,made the children more consumptive . In fact, a long time ago my parents taught me how to save well. I remembered when I was a kid, I always save my money in the clay piggy bank. Until we were introduced to the concept of saving money in the bank.

The increasingly diverse needs of life and the amount of influence from outside the family. How can we teach the children in saving and value the money? Introducing the concept of saving can be started by giving an example to the kids to save coins to piggy bank. During the time when the coins in a piggy bank began full, you can save money to deliver the coins to the real bank. In that way, you can also introduce the concept of banking to children. ''To successfully teach children to save, as parents we also have to do the same thing"

Pocket money is a tool for children to learn money management skill. The main principle in the granting of a pocket money is to give children the opportunity to save money, create a budget, and spend his own money.

In the Preschool years, children generally are able to distinguish coins, knowing its value, and begin to understand that money can be exchanged with objects. When children start school, they generally are ready to accept the pocket money. This moment can be used to start training them how to manage money well and correctly.

Simple way to train children to manage money.

We can train children about how to manage their money, like:

  • Provide three piggy banks. The first piggy bank for donations, the second piggy bank for savings, and a third for investment.
  • Buy a wallet and piggy bank that can be opened without a break. Piggy bank for savings, and wallets for spending their money. Both device help the child understand the concrete differences between saving and spending money.
  • Familiarize the child to make a budget for kid above 10 years old. When the saving have been sufficient. Open a bank account by his own name, to keep the saving result.
  • When open the bank account, let your child filled the bank form by himself and learn to speak with the bank officers. This is to built self confidence and give him a new experience.
  • Allow your child to buy somethings he had dreamed with some of his savings. This will give a sense of satisfaction and training to prevent the child's spontaneous purchases.
  • Donations. These habits will develop a sense of balance within themselves in terms of money, building relationships with others, so that the child will growth become a loving person.

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As a parent we want the best for our child. Give a good example to our child by spending money that could be imitated children. Try to create a shopping list before going to the store. With good interaction in teaching children how to use the money well I hope this way can strengthen the relationship between parents and children. Required two-way communication between children and parents. I hope by reading this hub, we can be a good parents.


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    • prasetio30 profile imageAUTHOR


      8 years ago from malang-indonesia

      Welcome to my hub, esllr. I am glad this hub benefit for you, especially for your grandchild. I hope she can learn from this hub and always saving her money. I wish she want learn much from this hub. have a nice day!

    • esllr profile image


      8 years ago

      Great hub, I would use this information with my grandchild who is eight.She wants to spend, so she should learn how to respect money.Especially giving back.

      Thank You!

    • prasetio30 profile imageAUTHOR


      8 years ago from malang-indonesia

      Thanks As multifunctions for coming to this hub. You have good comment. As parents we must accompany them. We have to explain what needs to be purchased and what is not. Such as daily need. At least we should give a good example. I hope we can treat children well. And they know the essence of saving and managing finances. I give my big appreciation for you.

    • multifunctions profile image

      Sanjay Sapre 

      8 years ago from India

      i think that they should be trained for proper spending as well in the same seriousness as they should be for saving. a deep sense of proper spending gets you some money to save .

      lure makes saving habit a victim as soon as you lay eggs on the wishlists.

      child should be encouraged to participate in all your purchasing and should be asked her/his suggestions . this perpetrates a thought process about spending in the initial stages.

      nontheless your article is admirable

    • prasetio30 profile imageAUTHOR


      8 years ago from malang-indonesia

      Your welcome salt. I am glad you get some benefit by reading this hub. This is very important for life. Better when children also learn about saving the money earlier and we hope they will become wise person in money management.

    • salt profile image


      8 years ago from australia

      Thankyou! I learnt alot from this and will use this in the future. Thankyou!!!

    • prasetio30 profile imageAUTHOR


      8 years ago from malang-indonesia

      Thanks breakfastpop. You always accepted in my hub.

    • breakfastpop profile image


      8 years ago

      Terrific hub and very wise advice.

    • prasetio30 profile imageAUTHOR


      8 years ago from malang-indonesia

      Thanks for all who give the best comment about this topic. Before I write this hub, I guess that we all agree that saving is very important in our life. When we treat this habit along time ago. And every people have saving in the bank. I think financial crisis will not happen, like this condition right now.

    • Hello, hello, profile image

      Hello, hello, 

      8 years ago from London, UK

      A very import advice and well written hub. Thank you.

    • Veronica Allen profile image

      Veronica Allen 

      8 years ago from Georgia

      This is so important - teaching children at an early age to learn how to save. Getting them in this mentality will help them for years to come.

    • DeBorrah K. Ogans profile image

      DeBorrah K Ogans 

      8 years ago

      Prasetio, Nice hub! Very good practical and resourceful ideas in help making children budget conscious! Thank you for sharing, Blessings!

    • Pete Maida profile image

      Pete Maida 

      8 years ago

      Very wise advice. I wish that US public schools had an official course in budgeting. There is plenty of need for one and plenty of course material. I guess in the age of cut backs in public school it is not the time to make new courses.

    • prasetio30 profile imageAUTHOR


      8 years ago from malang-indonesia

      Your welcome, Bail Up! you are the first reader of this hub. I hope this hub have benefit for us. Maybe it difficult to do. But we have to give explanations and examples to our kids little by little. I hope they will understand. I always give my big appreciation to Ceko who give us a great tips. I agree with you Ceko. Thanks to both of you.

    • ceko profile image


      8 years ago

      this is a great info. my tips - make saving a habit for 21 days, then it will become a daily task forever.

    • Bail Up ! profile image

      Bail Up ! 

      8 years ago

      Awesome hub on the importance of teching our kids to handle money. Hope they are lucky enought to learn this lesson well. Thanks for the hub.


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