teach your child to save money

Hello, That is a good thing to do teach, our children how to save money, my son is two years old and I will be taching him how to save really soon, I though about doing it sooner, then I changed my mind, I wanted to wait untill he gets a little older to to understand what he is actually doing, but I'm all for teaching the little ones on how to save. Happy My Lotting!

My grandmother use to tell us that we always have to save 10% of our income so as we can have funds for emergencies. But at one point, eventhough I know what to do, I always end up saving nothing. It easier said than done. I better start saving now before it's too late. I also would like to teach my future kids how to save and to implement it.

It is a very good suggestion to a child. It should understand the importance of saving money even from a very young age. The child should understand the hardships of the parents in bringing up the children.

It is easy to teach kids to save as first.. they dont know about spending until you teach them about that! and Second...they love to look at all that money in their banks! My 9 yo GD started saving few years ago... she was given a tall Crayon bank - looks just like a crayon but is about 3 feet tall. She now has 3 of them filled and lining the wall of her room. THen mom took her with some savings bonds she cashed in and opened her a savings account... took her with her and the little one signed and everything! Was totally involved in the whole thing! So she thinks that is just the coolest thing to go deposit her money - fills out the deposit slip and everything... so she kind of has it both ways... on paper and in her hand and she enjoys both ways!

Yes,it is good to teach children save their own money.When they grow up,they will have a plenty of money and not need to worried about to pay something need big money.My parent also teach me to save money.I have a loan study but i will not use my saving money in bank to pay it back untill i get many money from my saving's interest.Many benefit parent and their children get if they start save their money now.

yes ! i think we need to do it ! i agree with you ! thanks for your goog suggession

my parents always teach me to save money since i was a child and it is a habit that i bring until now... i can't thank my parents enough for teaching this good habit to me so that now i know how to manage my money and my family's finances... anyway, this is such a wonderful story to hear that a 5 year old can actually save so much money... sometimes we adult really have to learn from children and be ashamed of ourselves... take care and have a nice day...

To save money is one of the most important habits! Money saved is money earned! We must focus at our real economy by saving money, not borrowing! This child must stand as one landmark for saving! Thanks and have nice savings!

We do teach our daughter to save. Currently we are going on money walks. We put the money we find on the street, grass, sidewalk etc. into a gallon milk jug that I cleaned out. I don't know how much we have saved yet. But it is good exercise.

yes, you are quiet right. After reading that story u told us , i felt so disgraceful. i am an adult girl, but no knowing save money. i will spend them all..or just shopping..

Wow that was awesome! I am very glad with what that kid did. She was able to save a lot at a very young age. I hope I could teach my son that too. My son is now seven months old and I have been reading a lot of things I could teach him in order for him to become a good boy someday. And saving money is a good start and a way to discipline kids too. It will educate them and tell them the important of saving and that is valuing what they have like excess money.

the girl's parents are smart i think.what kid do always was taught by parents .5 years old is good age to build up good habit.once kid learn skill and thought from parents.they will keep good habit long time.

I am really pleased for her.he should be very pround and happy.I hope my son will do the same as her.one day he go to bank,he also would have the unusual feeling,both proud and please.we will learn much interesting thins from our life by doing this kinds.

I think everybody should teach their children to save money. I know at all of us want to give our kids all the happiness and joy in life so we try to fulfill all their demands. But this is no always good. If a kid get everything he/she wants then he/she will never understand the value of money. He/she will never understand that we have to work hard to earn it. I think this incident that you mentioned should be an inspiration to all parents and children and they should learn something from it.

hi! that's really great news and inspiring for kids and everyone who wants to save. :) i still have a piggy bank until now. since i was a kid, i've been trying to scrape up funds that's why i started a small business when i was 6-7 years old. i've been earning very little at the time but nickels and dimes combined is worth something after a while. thru my work, we partnered with credit unions and other microfinance institutions in creating savings products for kids and teens. we had a very successful campaign drive and educated kids on savings. it's a great experience that i applied to my nephews and nieces too. i bought everyone a piggy bank the other year and taught them to save. after a while, some of them saved enough to open a kiddie savings account at a local bank near us. i encourage them to deposit whatever amount they saved up for the week and visit the bank. i let the kids try to fill out the deposit form, fall in line and transact with the teller on their own. (of course i'm just behind them in case something would go wrong hehehe) now, 2 of the kids actually saved up more than their parents' savings at the bank.

i do teach my child, how and when to save money and make her understand that it is very important for us to save a penny everyday. although she is very small to understand the ifs and buts but still i make effort to teach are all the pros and cons of saving a money and i think it helped a lot and she has already saved some cash...

many small kid are like to spend money for many things, although they were small, but always like to spend money ,and also ask money from parents. so i don't want to give them many money ,because , they don't know how money can come.

I teach my children to save, they each have banks at home that tally up the amount of money they have in it, every time it reaches 120.00 they are allowed to spend 20.00 and the other 100.00 goes into a savings account for them. They get real excited to go to the bank with us and make their deposit. They know where their bank books are and like to show them off to their grandparents etc. i think it is very important to teach children about saving and money at an early age.

Well, considering this it is very important to teach children money management because without the skill they spend as soon as they get and that can be very bad in situations. Another good skill is saving which helped my son at a young age.