We all know how vitally important financial skills are, but it’s a little surprising and unexpected that schools don’t really teach kids about money and how important it is to manage this. As early as now, it’s best that you educate your children about valuable financial lessons such as saving, where physical and visual interactions are necessary when teaching them. Here are some great ideas on how to teach your kids great money saving tips:
- Save Using a Clear Jar
Yes, piggy banks and the like are the usual things kids use to save money which are good too, but if kids cannot really get any visuals to have a pretty good idea how much their money is growing, then that won’t really work effectively. With clear jars, your kids will see that yesterday, they had a dollar bill and a few dimes while today, they have a dollar bill and more dimes plus a quarter than yesterday! Talk about this with your kids then make a big deal out of it.
- Let your Kids Set Goals
Let your kids set goals like buying one of the toys they like. Ensure that the toy is not too expensive that they will not be able to afford it for months, which in turn will be frustrating on their part. Have them save up for one of the cool Original Copter toys that they’ve always wanted and cheer for them once they have succeeded with their goals. Remember to come up with realistic goals and if your kid does have expensive ones, think of a matching program that will help him or her reach for this at a practical time frame.
- Offer them Rewards for Successfully Saving Money
Such as credit unions where they offer various prizes, consider rewarding your children too for saving their money. For example, if your children do not spend over a specific amount of time, you can give them a little treat or reward for this. Also, you can give them extra play hours to enjoy their Original Copter toys since you and your child deserve this type of quality time treatment.