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Top 8 Ways to Teach Children to Save Money Effectively

Saving is a good habit. And the most important thing when starting out is creating excitement to save. The sooner you teach your child to save money, the more likely your child will no longer have to worry about how he spends. So here are a few ideas to help you teach your children of all ages to save money effectively, let’s refer and apply right away!

1. Teach children basic financial knowledge

Children of different ages have very different understandings of money, however, it is best to teach them at an early age. Many parents often wait until their children are 13 or 14 years old to teach their children the importance of money management.

That thinking is completely wrong because it is too late for children to know the value of money and proper money management. The important thing that parents need to do is to confide and teach them about financial knowledge from a young age to have appropriate spending habits.

2. Raising piggy bank

Compared to a tablet or phone, raising an economical piggy bank is a toy that is both cheap and multi-use. Not only having a cute shape, the piggy bank is also an assistant to help children get many useful lessons. First, parents do not forget to introduce to their children the meaning of thrifty piggy banks. The piggy bank is a tiny “bank” for children to initially learn how to accumulate money for a certain purpose. To teach children to raise piggy bank economically, parents should let their children keep their own money. It can be lucky money, monthly pocket money or other people’s money for children, bonuses… Every day, parents can give their children a little change and cleverly remind them to give them a habit of giving up tubes. saving pig. If your child has questions about why we have to save money, remember to explain it to your child with specific examples such as: “Every day I put 5 thousand dong in here, after 1 month I can buy a toy car. and know!”.

In addition, parents should also give children joy when waiting for the money in the piggy bank to fill up and when beating the pig to get the desired amount. Initially, the waiting time will be short with a small savings piggy bank. Next, parents and children can choose to buy 1 or more larger sized piggy banks to prolong the waiting time. During this time, remember to show your baby how to plan for spending money when the pig is full!

3. Be frank with your children about the family’s economic status

Currently, many parents worry because their children are always nagging asking for money to buy toys and snacks from their parents. According to a survey conducted recently, up to 96% of parents surveyed agreed that it is necessary to teach children about money to see the value of money and labor. One of those ways is to be frank with your children about the family’s economic status. Sharing openly and honestly with children about money and family economic circumstances will help them prepare psychologically to cope with real life.

Instead of refusing when children ask, explain to them that the family budget does not allow. If your family is going through difficult economic times, and still trying to buy things that your child requires but doesn’t need, it will make him think that is not realistic. On the contrary, when children understand the economic situation of the family,

It means you are forming the right mindset about money for your child.

4. Create conditions for children to earn money

The value of money will be best expressed by the effort to earn it. Encourage your child to look for an odd job in their spare time. Children often do not fully understand the value of money. Light daily chores let your children do it themselves and create conditions from those jobs to help them earn money from their own labor. Therefore, parents, please teach your children about money by creating conditions for them to earn money to prepare their children in life, to make them more mature.

Mowing the lawn, cleaning the car, serving burgers or other light chores. Not only does it help to appreciate your kids’ real efforts, but it also teaches them humility and respect for hard earned money.

5. Set an example for your child

Parents play an important role with their children, even when they have a negative influence. Children often imitate what we do more than we say, so stop the “endless” shopping habit in your spare time, as it will make your child think that money is an “infinite resource” and spend it. To satisfy my own interests is really interesting.

Parents should have a reasonable spending plan, then teaching children to save will have good results, because “theory” without “practice” is just a cliché.

6. Help children have savings goals

For example, children want to buy something they like, parents should not give them money to buy it, but encourage children to accumulate money to buy them themselves. Parents can tell their children that when they have money, they should not use it to buy miscellaneous things, but accumulate enough money to buy more expensive things that they need.

Therefore, it will help them realize that saving has to wait and need patience, so when using it, they must consider and choose accordingly without wasting.

7. Invest for the future

It’s never too early to teach kids about investing for the future. You can start with something basic, such as education. It is very important to map out the educational path that children want to pursue in the future with their children, along with career orientation.

Teach your children to consider the expenses they will need for their future education, such as the cost of studying abroad, including tuition, housing and more if they wish to study in a foreign country. later development.

See also: Improving The Quality Of Your Sleep

8. Responsible for Credit Cards

Learning how to spend money is just as important as how we make it. When children are small, help them have a good foundation on money matters, how to spend and how to save should be formed gradually to become good habits for later. For preschool children, you should teach them to recognize facades, what they need money to buy, and orient them to work to get what they want. For older kids, it’s important to teach them how to compare prices before shopping, be careful when shopping online, and save money to buy things when they need them. Before buying things should make a list, then consult in different stores, set financial goals. And you can teach them how to save money by using discount codes when shopping. There are many discount codes, verified coupons at Findcouponhere.net, search and use them the easiest way to save maximum costs.

Credit cards are becoming more and more popular in Vietnam and it is very likely that your child will study abroad in the future, so it is very important to teach your teen to be responsible for their credit card spending. importance. Explain to your child the consequences of overspending on credit cards and bad debt. This way, once a child is old enough to own a credit card, he or she will know how to use it sensibly. However, you also need to get into the habit of using credit cards properly before teaching your children how to save.


One of the important things that parents can do to help their children succeed is to talk to their children about finances, and teach them how to save so that they are well aware of the value of money and how to spend it scientifically. In addition, you should also teach your children how to keep track of discounted products during big discount events such as Black Friday sale, Cyber Monday sale, Christmas sale,… Children whose parents talked about money at least once a week were more money-smart than children who never talked to their parents about the topic. Have you applied an effective way of teaching children to save? So try to apply one of the above methods, very simple but absolutely effective.


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