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Getting Kids Hooked on Saving

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For today’s ‘top pick‘ I’d like to propose an article that’s of great interest to me and many other parents (or future parents). We’ll find out how we can teach our kids about the importance of saving money and how to instill in them the passion for doing so.

Here are the top ways to get your kids hooked on saving:

  • Set a specific goal
  • Brainstorm ways to come up with cash
  • Match their efforts
  • Make the process visible
  • Keep the timeframe short

… there are more tips and tricks in the entire article: Get Your Kids Hooked on Saving. Please enjoy 🙂

5 COMMENTS

  1. For years I thought kids shouldn’t be taught about money, since they’re too young, but seeing the financial decisions our generation has made, it’s clear we need to take care of our offspring, so that they don’t make the same mistakes. In our household we have taught our kids about money since early age and now, as teenagers, they’re already making better decisions.

  2. I also thought we’d just ‘fill’ their brains with useless stuff, but I also notice that a lot of young people have little to no clues about personal finance. This is why I also consider that, teaching kids about money, at their own level of understanding, of course, is a good idea.

  3. I believe each child has their own personality, their own ideas and their own understanding of how the world around them works. However, I also believe that teaching them about certain aspects of life in a playful manner works. I try to teach my children about financial responsibility by making them “earn” part of their allowance, for instance. It’s time and energy consuming, but totally worth it!

  4. This is a pretty interesting topic. Most of my friends are married with kids. I’m the only single one without responsibility. But curiously, I find topics like this very informative and engaging. Unfortunately, the link no longer works. I would have enjoyed reading the article and share the ideas there with my friends. They’re children are growing and has vague ideas of the value of money. Any resources that could help them teach the value of money, especially the importance of saving money, would truly be helpful. Even though I don’t have kids on my own, I truly believe that it’s very important to slowly introduce to kids how to value money, how to save them, etc.
    tabby recently posted…how to withdraw funds from COLMy Profile

  5. You will not believe the importance of setting up a savings account at the bank for a kid. I would say that it is the number one factor that contributed to my savings habits, which are pretty darn good if I do say so myself. I talk to other people my age, and you can tell the people who had one growing up, and they are savers. It gets you in the mindset, and just think about it, if you are young and have 100 dollars, you can either spend it right away or put it away somewhere for later, and if it is bank that is just your de facto savings lesson. That is my opinion on the matter, at least.

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