How do you teach your children to save money?

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  1. Turtlewoman profile image90
    Turtlewomanposted 13 years ago

    How do you teach your children to save money?

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  2. Cre8tor profile image71
    Cre8torposted 13 years ago

    I have 3 sons and this to me is one of those areas where you just say, "I know what's best for you." We have made our children put aside a portion of just about any money they receive. Sure, we've sometimes gotten that look but now that my oldest is nearly 16, he's thanking me. They will never understand how a few bucks here and there adds up until you show them.

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  3. Writerly Yours profile image69
    Writerly Yoursposted 13 years ago

    My son actually has a mini-toy ATM in his room with a debit card.  He saves his allowance and any other money given to him and when he wants something he makes a withdrawal and makes sure he keeps track of it.

    This teaches him the value of money by using it in real life! He loves it and completely understands why Mom and DAd are always saying the "B" word---BUDGET!

    Great question!

    thank you!

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  4. MargaretC0923 profile image60
    MargaretC0923posted 13 years ago

    Start small with quick rewards. Let them earn a bit of money for a week and start saving it in a jar/piggy bank/bank-account. Take them to the store and let them buy something. The next time, let them save for two weeks. Explain the difference in their options than the previous time. Work it up until they're saving for months at a time, and allow them to come to the realization that the longer you save, the more you save, the more useful it is in the long run!

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