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Nov 11

How to make saving money fun for kids?

All opinions in this post are 100% my own.

How to Make Saving Money Fun for Kids?

 

How to make saving money fun for kids?
Every parent dreams that their kids will set aside a certain portion of their allowance and spend wisely but how often does that happen? We forget that children are like raw slate unaware of worldly concepts and it becomes our duty to teach them the basic lessons that will help them in long-term. It is a fact that since the day child is born we parents pamper them and why not? Every parent wants to fulfill their child’s wish but along with it, they have to teach the importance of savings; teach them not to become spendthrift and how to have self-control. 

It is easy to teach a child but an adult and when these lessons are imparted at a tender age it forms a child’s nature and character. You may find many books on child psychology or parenting at Bydiscountcodes that will help you how to teach kids effortlessly but today I will share some smart hacks that will help parents to train their kids:
 Play thoughtful games: Kids love to play games and market is flooded with games that will teach them how to earn coupons, reward points or money. One of the classic example if monopoly. When they will play monopoly with family one it will teach them saving money is fun and makes them win; secondly, they will bond with family and learn fast. Also, it is anyway better than lecture system which makes them feel parents are old and boring.
 Set a target: Every kid asks this question why to save money? What is the need? But when they are given a target i.e. to save money for a party or a specific gadget it will give them a short-term goal. This will keep them motivated as they know there is an advantage of saving a few pennies from their allowance. It will also help them to prioritize what is important and what can be avoided and they will do healthy discussions with parents on budgeting and reach a mutual decision. So it will not only teach them how to save but self-control, brainstorming, proper communication and most important decision making.
 Open their bank account: Take your child to your bank and tell them what a bank is and you keep your money safe in an account. It will increase their curiosity and you can ask them if they need a bank account? The traditional way of saving money is in a piggy bank at home but today’s modern children are actually thrilled of having a child’ bank account with beautiful ATM cards. They love to flaunt their ATM card in front of their friends and are thrilled to hear how much money is in their bank account. Even you can take to work some times to show them how hard you or their dad works to earn money and why it is important to save money.
 Practice what you preach: Lastly, children observe and pick up habits from their parents. So always put aside some cash in your special bag and give it a cool name like a treasure box and let the child see you also save. This will make them feel excited about saving as they will see you as parents love to save and spend later on big things.

To conclude, there is no easy way to teach kids and being strict or disciplinarian will not help much. So try to make saving money fun and rewarding to teach them basics of saving money and form a habit that will help them at every stage of life.

2 comments

  1. Calvin F.

    neat trick, thaNKS

  2. Lujuana Miller

    I think saving money is a great thing and too make it fun for Kids is even better! Kids don’t have so much a concept of saving money so this is a good article to help kids do that. Thanks for sharing!

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