Teaching our children to save
By r3jcorp
@r3jcorp (1382)
Philippines
August 9, 2011 1:52am CST
Does your children have piggy banks or bank books?
Money nowadays are very hard to earn and it is good to train our children how to handle their cash at an early age. My daughters have their own money given regularly by their grandparents and aunts but we discourage them from using it with unimportant things. We talk it over before buying things and we both agree on the things that they will buy. They already purchase their own electric fan, cabinets, shoe rack, etc. They are also allowed to buy upgrades or games for their game console but on a very limited times. My eldest daughter is now saving money for her guitar because she wanted to learn to play it and was almost near her goal. Both my children have a bamboo banks where they put the cents where they put their changes.
Maybe in the future they will appreciate the training we made for them.
1 person likes this
8 responses
@myfb2009 (8296)
• Malaysia
10 Aug 11
Yes, i taught my son to learn to save money since he was only a few months old. I think children should be taught from young on how important is money. At least, they know and appreciate money in future. They know that money is not to be spend carelessly as it is not easy to earn money. I am happy to see nowadays many saving products being promoted by the banks to encourage more saving among parents.
@viju0410 (2286)
• India
9 Aug 11
I did start the practice of piggy bank and then now a days I find that both my kids are not much into saving and spent on items required for their school or project when me and my husband are out for work during the day. I really appreciate the habit of savings among children. Wish I could restart the system again.
@jugsjugs (12967)
•
11 Aug 11
All six of my children have bank accounts and they also do put money in it so that way they will have something, when they leave school.I use to put their birthday money in their accounts when they were a lot younger, as at that time there was nothing that they needed or wanted.I think that it is good if you can get a child to respect the value of money at an early age, as well as teach them if they want things they have to save for things.
@dynzdolina (381)
• Philippines
13 Aug 11
incidentally, my parents emphasized the value of piggy banks. Even when i was still a kid, i own a piggy bank which I appreciated a lot. now that i am a mom myself, i make it a point that my kids do the same.
@thetis74 (1525)
•
9 Aug 11
My daughter has two piggy banks and the other one is mylot. Our greatest piggy bank. Since I was a child I have always wanted to save money. And I am not just teaching her how to save money, but water, paper, chalk, food, etc. Anything that I could think of. We rather share the money we could save to help her cousins little things like pencils, or pens or anything for school. Because her cousins are less fortunate. So she also saves. And gladly when we go to shop she would not have tantrums if I don't give her what she does not need. If she ask for a doll I would tell her your doll is much prettier and you don't need another and let's not waste money because it is very hard to find and that daddy is having a hard time finding it and there are expenses in school if you still want to study and go to school. She is only four and can now at least understand these things a bit. And hope that she would grow up frugal.
It is a good thing that we do these things for our children. I am sure they will be teaching these to their children and to the next families in the future to come.
@r3jcorp (1382)
• Philippines
10 Aug 11
I do the same. My children are also aware and practicing conservation on power consumption as well as recycling. Yes, we do share things to her cousins, the good thing is that they are younger than my daughters. Before we go to the mall or grocery, I make it clear to both kids that we are only to buy things that are needed by the whole family, we don't have extra money for their wants. Sometimes, I do give them the option to buy 1 thing they want but they should make sure that it is within the budget limit.
My daughters knows very well how to handle their money and I'm so proud of them for being so considerate and mature enough to understand things here.
@durgabala (1360)
• India
9 Aug 11
yes, it is a nice habit for kids to maintain a piggy bank. even my kids maintain one. they put their gift money from grandparents, aunts, uncles into the toy laughing Buddha. my daughter used her saved money to buy a new dress for her birthday, my son got a new shoe. its good habit to cultivate, this will make them responsible citizens in future and they will start saving money. 
@Elainerlily (27)
•
9 Aug 11
good habit.if a children can save money buy themselves,they will have a good skill to life for future
