Tips to teach our children how to save

As parents, we have a responsibility to give our children the skills they will need to enjoy a happy and successful life.

Just as it is better to encourage a child to enjoy sport before they become unfit and a healthy diet before they put weight on, time spent showing your child how to look after their pennies will pay dividends throughout the rest of their lives.

Quite often their eyes will quickly glaze over and their attention will soon be grabbed by their games console unless you make this most serious of subjects fun.

That is why I have added this very helpful ideas chart to give you some tips to help turn this potentially dry issue into an entertaining pursuit for children.

By starting early, these positive skills your children will learn will become lifelong habits which will give them the best chance of avoiding unhelpful debt and having the funds they need for a fulfilling future. The tips shown in the infographic courtesy of Finance and Lifestyle are great to help get your little saver started on their financial journey.

Making saving fun is the key so you will find tips about setting targets to save for a particular purchase or day trip; adding motivation by using charts to let children see their savings grow and talking about emergency bills, such as batteries for their favourite toy.

The graphic here also reminds us to set our children a positive example by including them in the family’s financial planning and talking to our children about our experiences (both positive and negative) of saving for large items and the lessons we learned from this.

By introducing this subject early into our children’s lives, they will have the skills and tools they need to have the best chance of a successful financial life.

Infographic courtesy of Finance & Lifestyle

Do you have any tips to share on how to help your child save their pennies? 

*This is a collaborative post

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