Back-to-school is a great time to teach kids the importance of saving.
Take the opportunity to have conversations about budgeting for school supplies, or earning money from an after school 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:*
- Talk about money (this newsletter is a great resource)
- Discuss needs vs wants (for little ones, download these fun coloring pages)
- Have them earn money from chores or an after school job
- Set savings goals (and maybe offer milestone incentives)
- Be a savings role model
Have questions or looking for a little help with your savings plan? Our Financial Wellness Coaches, Erika Taylor and Lesley Warn, are available to chat about all things money management. Get in touch with them.
*Source: American Bankers Association