Many would agree that teaching children to save early in life is an important skill, habit and attitude to learn. This short presentation shares 5 ways to start the savings habit in young children. It comes courtesy of Daniel Britton creator of the Financial Fairy Tales series of books, fun financial education for children
Beginners Guide to TikTok for Search - Rachel Pearson - We are Tilt __ Bright...
5 easy ways to create the savings habit for kids
1. 5 Easy Ways to Start the
Savings Habit in Kids
Daniel Britton – The Financial Fairy Tales
2. Encouraging your child to start
saving early in life can form a habit
that leads to financial freedom
3. 1. Set an example – have a jar or money
box where you deposit your spare
change
Even better, use a series of jars, one
for saving, one for sharing and one for
fun!
4. 2. Add interest – when your child is old
enough to understand the concept of
interest, you can act like a bank and top up
their savings.
This gives a little more incentive to save
plus the opportunity to develop some
maths skills
5. 3. Open an account – go with your child to
the bank and open a savings account.
Then make an occasion about going to
deposit.
6. 4. Save for a purpose – it’s much easier to
create an interest in saving (excuse the
pun), when there is a strongly desired
outcome on the end of it.
Label a jar or piggy bank, or attach a picture
of what your child is saving up for
7. 5. Be consistent – For saving to become a
habit it must be done regularly and often.
By doing something every day, like putting
in your loose change, the habit of saving
money becomes automatic
8. The Financial Fairy Tales
Making Learning About Money Serious Fun!
www.thefinancialfairytales.com