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Help Your Kids Save Money With These Easy Tips That Won’t Cost You

November 5th, 2017
Help Your Kids Save Money With These Easy Tips That Won’t Cost You
We all want to instill the very best values in our children. We want to teach them to be kind, caring, affectionate and a good listener. Our job as parents is also to teach them how to survive in the real world when they grow up. They need to learn how to cook and clean, how to grocery shop and how to save money. Luckily, they learn most of these skills just by being member of a loving household. Today, we will focus on saving money because let’s face it, we adults struggle with this very thing, as well.

Sometimes it can be hard to teach kids to save money if we have none to spare. So, here’s some tips to teach the little ones how to save money without you spending any of yours.

Holiday money

Relatives are always giving kids money, whether it’s a few notes in a card or for helping them with something, those little bits can truly add up. Teach your child to put at least half of what they receive aside to save. If you start this when they are young, then it will not be a struggle as they get older and they will have a good chunk of cash for the future saved up.
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Open a savings account

Take a field trip over to the bank and open a savings account with them. They usually need only a very small amount of money with them to open one. Teach them about interest and how about their money creating more money by simply keeping it in the bank. My daughter just loves seeing her account go up by doing nothing at all!

Spend wisely

Now, since they only saved half of their money, they will still have spending money. It is important to show them the value of a purchase. Would they rather waste all their money at the toy store or perhaps use it to do something with their family or friends. You can even help them use the money to buy supplies to make lemonade and they can make a lemonade stand to sell the tasty drinks and earn some extra money.
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Helping the elderly

If your child is old enough to do yard work, there are plenty of elderly folks (and others that are just too busy to do it themselves) that would love to have a young person to do some yard work for them and will pay them for their time. This is a good way to instill the value of helping others, caring for our older generations and hard-earned money.
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Have you done any of these with your child? How do you help them save for their future?

Natalie x

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