Register | Login
Login
Sign in with:
---------- OR ----------
Create Account | Login
Create account
As a Member You Can:
  • Join clubs to discuss your interests
  • Connect with people like you
  • Share information, seek advice, get support

   
parenting
in Mumbai (change city)
Select City
  • All
  • Delhi
  • New Delhi
  • Gurgaon
  • Noida
  • Mumbai
  • Pune
  • Banglore
  • Hyderabad
  • Ghaziabad
  • Chandigarh
  • Ahmedabad
  • Kolkata
  • Chennai
  • Coimbatore
  • Jaipur
 
Raising Children Topics..

 
You are here : home > Raising Children > Related Articles for Raising Children > 7 Creative Ways for Teaching Kids to Save Money

7 Creative Ways for Teaching Kids to Save Money



Teaching kids to value money and save it is very important. Read on to find more about the 7 creative ways for teaching kids to save money.

It is important for everyone to be financially independent, irrespective of the age. Kids do not earn, but out of the pocket money that they get every week, they should develop the habit of saving money out of it. It is a part of the responsibility of the parents to motivate their children so that they start saving. Here are some of the strategies given how to teach your child the principles of savings. Have a look at these.

1.  Do Not Start Up with Money First

Teaching your children the art of savings should be started as early as possible. If you want to start up with your toddler, to whom the concept of money is not much clearer, then instead of teaching her to save money, teach her to save some coupons. For example, say your child loves to watch cartoon on T.V, in order to teach her the matter of saving, give her some coupons at the beginning of every week and exchange some coupons with letting her watch her favourite cartoon.

Fix the number of coupons that are needed for watching each program on T.V. this way she will learn to save. When she grows up, she will learn to save money just as she is savings her coupons now.

2.  Model an Example of Saving

Children like to absorb things quickly that they see their parents doing. Show your kids that you also save money. Show her your saving jar, where you put all your savings. They will quickly follow you with ease. This way you can teach your kids the good habits of saving.

3.  Make Saving a Fun Game

Do not force your kid to save money. Instead make saving a part of a fun game. For example, tell your child, that if she can save a particular amount by the end of the week, she will get a surprise gift. This way your kids will be encouraged to save more.

4.  Let Your Child Learn from Mistakes

When you see your child spending all her pocket money without thinking, do not rebuke her or lose your temper in front of her. This is a trick to teach your kid a good lesson. If your kid spends all her money, a time will come when she will run short of money and cannot buy things of her choice. She will come to you to ask for extra money for the time being. This is the time to teach your child a very good lesson.

When she asks for money in the middle of the month after spending all her money, never give her any extra money. Let her understand the value of money, so that the next time she goes on a spending spree she will think twice before spending all her pocket money. She will learn to save money for future.

5.  Open a Bank Account

When your kid grows up a little to understand the operations of bank, open a savings account in her name or may be a joint account with you taking her as a minor. Tell her to deposit whatever she saves at the end of every month. Show her that if she deposits more she will get some money as interest from the bank which is ultimately profitable at the end of the month.

6.  Get Those Exciting Jars or Piggy Banks

To make savings more exciting, get your kids interesting jars preferably of their favourite superheroes. It is a very good idea if you can get them a transparent jar so that they can see their money piling up each day.

7.  Avoid Watching Illusive Advertisements

Kids are often tempted to buy certain things which they watch on the television with their pocket money. Teach your kids that those are false selling propaganda which will be useless to spend money on.

Habits of saving money should be imbibed in kids from the early childhood days so that when they grow up they will understand the value of money.

How to teach children to save money? At what age should parents start giving pocket money to children? What are the ways to teach the value of money to children? Discuss here.

You may also be interested in:

Smart Parenting
(45214 views)
Fussy Eating Habits
(21214 views)
The Dirt on Dirt - II
(11662 views)
Your Child's Room
(10387 views)
Parenting on the Web
(8210 views)
Cancel
Save Edit
parenting
Notifications
3 Comments
Sort by Newest

Sneha.1 year ago
The first thing that parents need to do is, open a bank account for their children and they should save money for them first before children start saving.
 
 
 
.
Reply
Naina.1 year ago
Savings are the basics of teaching money management to children. It is the first thing that parents need to teach children in financial planning.
 
 
 
.
Reply
Ishika.1 year ago
Savings are very very important and we must teach our children to save money.
 
 
 
.
Reply
Back to Previous Page   |   More on Raising Children Index

 
 


All tips on Related Articles For Raising Children
You ever wanted in one place.
No need to go anywhere else. No spam.

*No spam only genuine emails
Follow us on:




Featured Articles - Infertility | Baby Development | Health and Fitness | How to Get Pregnant | Parenting Advice | Weight Loss | Pregnancy Advice | Name Numerology
Baby - Baby Photo Contest | Lucky Names | Lucky Birthdates | Horoscopes | Chinese Calendar | Compatibility Test | Fun Zone
Parenting - Message Boards | Planning a Baby | Pregnancy | Parents of Babies | Baby Names | Baby Name Poll | Birth Announcements | Parenting Quiz
Family - Cooking Club | Love & Relationships | Beauty Tips | Kids Weight Calculator | Recipe Maker
General - Calorie Counter | Personality Quiz | Love Signs | Compatibility Quiz
Home | Site Map | Privacy Policy | Comments or Suggestions | Indiaparenting News Articles | Contact Us | Advertise with Us | | RSS
Copyright (c) 1999 - 2017 India Parenting Pvt. Ltd.

ASK A QUESTION
What kind of things do kids hide from parents? Why do kids keep secretes from parents? How to encour...
ASK NOW !