Tips for Teaching Kids to Save

As of  June 7, 2021

Summer is a great time to save.

School is winding down and soon kids will have more time to help with household chores, open a lemonade stand, mow neighbor’s lawns, or apply for a summer job. Teach the children in your life how to save by talking about it early and often.

Help kids form good lifelong saving habits.

Here are a few tips to get started:*

  1. Talk about money (this newsletter is a great resource)
  2. Discuss needs vs wants (for little ones, download these fun coloring pages)
  3. Have them earn money from chores or a summer job
  4. Set savings goals (and maybe offer milestone incentives)
  5. Be a savings role model

Have questions or looking for a little help with your savings plan? Lesley Warn, Financial Wellness Coach is available to chat about all things money management. Get in touch with Lesley.

*Source: American Bankers Association