April 12 - Teach Children to Save Day

it is so important to teach your kids how to save money and how to live frugally, saving for what they want. i wish a class like this was taught to kids in highschool. credit card debt here in canada is growing to be much too high.

I don't have kids, but when I do I think I'll adapt a few different things I've seen and been taught myself. First I suppose not all the time, but most of the time when going to the store I'll teach them the value of what they want, even when it comes to food. My grandfather did this, when going and searching for food with him the questions to have ready to answer were this : 1. How much is it? 2. Will you eat it? . My sister gives my niece and nephew a quarter or something like that a day if they are behaved. They can then cash it out whenever they want and can buy themselves a toy, it's already taught my nephew to save. I think he had nearly $100.00 one time to go shopping with. Not too long ago my nephew wanted to get something for himself and yet didn't have the money for it, so he bartered with his dad, the dad got to keep the toysrus gift card my nephew got for Christmas or sometime, and his father would buy him what he wanted that day. I think I'll be doing almost the same things that I've listed above but adapting it a bit to suit how I feel they should be rewarded / taught. Just not sure what I'll do.

When I was in elementary school, my mother used to give me two dollars every day to buy after school snacks for me and my younger brother. I had to use the money very carefully in order buy enough snacks for the both of us and to still have twenty five cents left to save in my piggy bank. I think my frugal ways now is a result of my mother's care. Teaching children to save is definitely important.

I don't have kids, but I remember that I was able to save enough money by the time I was 9 to buy myself a bike. This was back in the 60's, but to have $20 was a big deal then! I wish I could get myself to save the way I did back then. I would be a lot better off than I am now!

My sister does this with her kids. She gives them an allowance and they have three piggy banks one for spending, one for savings and one for Christmas. Evey year for Christmas they buy gifts for each other and also one for the toys for tots program. My sister counts to see how much each kids has saved and she matches it. The kids are really good about saving. Once in a while when they have a lot of money in the spending piggy bank the kids will buy a little surprise for their mom (which I think is sweet). The kids help around the house. The ages of the kids 9 and the triplets are 6.

My son is only 6 months old, but I do plan on teaching him to save and to show him he has to work to make the money. I put a few coins in his piggy bank when my husband leaves his change lying around. But we are a very tight budget, so we are unable to save much for his future at the moment, but we do have plans to in the future... Just need to pay off some bills first.

I really don't know there is such kind of day, now-a-days these kind of special days are being increased, i tell youngsters always all about such, but sometimes i don't follow those, i know that's a wrong thing.

hi 3SnuggleBunnies we never had a lot of moneywhen our kids were little so we taught them to save but also to spend wisely and also let my son do certain tasks around our home to earn his spending money;we lost our little girl when she was 8 so there was just my son. in his teens he also did errands for neighbors and earned some money too. He was thriofty and he always saved some back too.I was taught as a child to work for my pockoet money and later encouraged to sell our own produce and take my share for the work I did. I was always pretty careful with money, and not a spendthrift.

I am not a parent yet but I agree with this idea. I think it will be helpful for both parents and the children. The children will learn how to value money and/or resources and the parents will be able to learn to be as good as possible in guiding the children to do the task. I have in mind that whatever happens in the future there is something to save the kids ... their savings. Nice topic! Thumbs up!

good disscussion

Really? I didnt know that. Anyway, i think I will always remember to teach my kids to save and other children to save even if its not April 12. My nephews save money from their allowances cause its what their mom taught them. My mom also taught me that so in the future, I will teach my kids the same things.

i applaud you for you effort. Every parent should learn to do the same. If we were taught (and I am sure some were) and obeyed our parents teaching, we might not be in this current pathetic situation. I am saying myself, at least. Thank you for reminding all those who come into this discussion such a good lesson.

Your thinking is great and this is needed in our life style. Me too get this point from you my friend, thank you very much let me know this. After my marriage me too go in your way....

In china,parents just have one kid according to the policy of country,the kids are the No.1 in the family,they can get everything what they want!In their young mind,money is so easy to earn that just asking for........I talked about this just want to remind the parents stoped the wrong way,the way you take is harmful to the kids!Parents had to teach their child to save money in teenage,let them learned the proper financial plan

I try to be fair teaching them to spend some and save some. but my hubby disagrees and insists on saving it all in fact he goes to the extent of saving their pocket money too and depositing in the account in their own name. I feel a little bit of independent spending too should be allowed and child should be judge of that but somehow that message gets lost between our different thinking and upbringing. If you insist too much on saving too, I feel child will have yearning left in his heart and will be running after money all through his adult life and will spend way too much once he grows up. It should be a balanced thing , too much on either side will eventually send a wrong message.

For me yes so that they know how much to do the time by there owned self too.

I dont have children yet. But when the time comes that I will have children, I will eagerly teach them on how to save money. I will teach them the importance of having money hidden for rainy days. I will control their wants so that when they grow up they will have self control in buying things and to classify their needs and wants :)

I still don't have any kids yet but sooner I know I'm going to have one. And definitely i would really teach them how to save money for their wants and needs. It's really hard when it's raining and you don't have anything saved for the rainy. When they do learn how to save at their very young age, they won't have a hard time saving when they are old enough for their future and family. :)

Thanks for reminding that parents should teach their kids how to save. I havent' thought yet about teaching my kids to save. Even if their still young, they should know the value of money and spend it moderately.

That's a good idea.. My Mom has taught me to save since I was a kid and I was awarded most thrifty in my Grade School year..Now, I'm 21 years old a fresh graduate of Nursing and still a constant saver ;) it's really helpful and is a great boost for independence