How to teach children the importance of saving

Money is an essential part of our society, so it’s never too early to teach children the value and importance of saving so you can make responsible use of it as you age. go grow. Learning the principles of responsible money management and saving will give them many opportunities for advancement when they are older, so it is important to do so even at a young age.

Once children are taught the importance of saving correctly, they can begin to have a healthy relationship with money, thus avoiding inappropriate behavior or irresponsible use of money in the future.

Understanding mathematics in daily life

Once children start in school, work on the basic concepts of mathematics , you can start working on money and saving. It is important that you help him understand it with a little practice, for example playing with money at home, downloading games on the computer about money, doing problems, etc. What matters is that your child realizes that he is something practical and necessary.

Having a piggy bank

Having a piggy bank will teach children the importance of saving and they can begin to generate a sense of responsibility for managing of money. You can encourage your children to have a certain amount of money or to save coins of a particular value. It is necessary that the child sees it as a game, as a goal… so he will see it as a challenge and very interesting. You can set a date in time and open the piggy bank to see the savings. You can also make some kind of visual log to encourage your kids to save more and teach them the basics of a log.

Teaching children the value of money and saving

Take your child to the bank

Not everyone is a friend of the bank, but you can take your child to visit the bank and explain what it is a b account ancaria When you think he is old enough you can open a savings account in his name, but they must understand what an account is and be the one who supervises and controls it all the time. But this way you can tell them to deposit money every week. Try to make it an online service to avoid maintenance costs.

Plan saving expenses

Planning for future spending motivates kids to reach their savings goals. You can remind him that with enough money he can buy what he has in mind. Allows them to dream big so they can save more and reach their goals faster.

Shop themselves

Allow your children to do their own purchases and always pay in cash so that they can be realistic at all times. By paying in cash they will be better able to learn how to use money responsibly. When you buy, watch their attitude towards spending with money.

If your children want to spend more than they have, you must be patient and explain to them why that is not possible. Educate your children about responsible spending.

Be the best example

One of the best ways to teach children the value of money and the The importance of saving is leading by example… so your children will have greater responsibility. Give them an allowance – as long as they’ve earned it – for things they might want to buy, help them keep track and keep tabs on the money they’re saving.

These steps are simple but all of them are effective for children to learn to manage money responsibly and so that they can have good savings strategies for adult life.