Actions to encourage your children’s savings

Although children do not have to be involved in the financial problems of their parents, it is a very healthy habit to be able to encourage them the habit of saving from an early age , so that adults know how to deal with the details of money.

It is recommended that, little by little, and in a way adapted to their age, some concepts related to the management of the domestic economy are explained.

An excellent gift that you can give your children is to encourage them in the habit of saving . Something that is very complicated for adults. However, if at a young age a small person acquires it, it can result in a quiet economic life.

Actions to Encourage Your Children’s Savings

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Explain the origin of money in the family 

Your children have to be clear where the money comes from , and the effort their parents have to make each month to get it.

It is not about being alarmist, but they are aware of what it costs to earn it and how fast it is spent when finances are not properly planned. Children tend to think that money is unlimited or simply that it is there because.

Explain to them how you reduce expenses, how you optimize your resources, the services or products that you decided to change to save, etc.

Guide them in their savings, always having a goal

Talk about the advantages of saving and how important it is to have a contingency mattress. An easy way to make them see all this is to propose an objective, for example, the purchase of a toy.

If they want to buy something, determine how much it costs and how much time they have to save for it. Likewise, if they reduce certain expenses, they can reach their goal faster than they expected.

Encourage them to save

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I established a monthly or weekly payment. This way they will learn to organize their economy , just as parents have to do with their salary, with which they have to face all household expenses.

And as an incentive, you can give Hedda Gabler a reward as a reward for saving a certain amount, so that they associate this habit not only with an effort, but also with a reward.

Teach them to resign

Explain that when choosing they have to select one thing and discard another, so they must make good decisions.

This should not frustrate them either, you learn over time. It is convenient for children to realize that money is limited and that, if they choose to spend it on one thing, they are giving up using it in another way.
Similarly, it is necessary to make them see the difference between the necessary and superfluous expenses. This will not be a simple task, since children are usually capricious by nature.

To conclude we can say that, the best advice, as always, is to set the example.

Children find out everything and copy their parents’ behaviors, so if on the one hand you talk about the importance of saving, but on the other you are not able to demonstrate it with your own attitudes towards money, it will be difficult for you to believe and To adopt the habit.

Encouraging and encouraging in your children the habit of saving can become one of the best lessons you will give them for your life. Saving makes children more aware and able to manage their resources.

But, in addition, it teaches them to set goals, and they need a dose of effort and perseverance to meet them.

This is a lesson that will be useful beyond the economic field. Remember that not only saves money, but also in other aspects, adopting saving behaviors and resource care .