In today’s generation, life and living is no longer as simple and uncomplicated as it was during our childhood days. It is very important to teach our children values and lessons that will save them from hardship when they grow up and stand on their own feet. One of the best way to help our kids build their future is to teach them how to save money. Teach them on wisely spending and other techniques so they can appreciate the value and essence of saving money.
Saving Money Activities for kids
•Money as a reward. Give them a glimpse of how money as a reward works. Example, give them tasks to sweep the floor, to water the plants, or clean the table after meal time. Give them money as a reward in successfully doing some weekly chores you listed for them. As early as 3-5, they will experience that money should be hard earned and should be valued.
•Money in a jar. Each time they earn money from chores or when someone gives it, make them equally devide the money to placenit in 2 jars (for wants and for needs). Each time they want to buy little kiddie stuffs like chocolate or candy, they can get the money from wants. On the other hand, when they need to buy something they think they really need, they can get from the other jar. Explain to them that saving is a very good means to get what they want or need as long as they keep their head on it.
•Goal for savings. Let them set goals like a storybook they really like to have, and set that as their main goal to save so that they will be motivated.
•Prioritizing and budgeting. When going to the mall to buy stuffs, let them have limited money and make them choose to what they want. Each time they get something, ask them if that is really2 needed. In the end, they should be able to get what they like or need the most and eliminate those that are just tempting to the eyes.
•Teach them about contentment. Make your kids see that as long as they have what they need and maybe a few of what they want, they should be contented. Spending money just because you have it is a big No No. Saving for emergencies and for the future should be discussed as well so your child can have a picture of what he is saving for.
•Be an example. Don’t teach your child to save wisely, then you keep on spending over things you are tempted to buy. Do what you have taught your children and set as a good example of someone who has effective savings plan.
Teaching kids about the value of saving is not really an easy peasy task. It would require patience and contentment to overdlow and avoid spending on things you don’t really need. In the future, once your child is already old enough, he will be come a money-smart person and surely, he will thank you for teaching him that as early as possible.