When is the right time to teach kids to save? When they learn to buy things for themselves? When they start asking for things they like? When you can start explaining when things are expensive or not?
Since my little girl now knows how to count, we’ve been asking her to choose between two things when it’s needed. We always try to give her options and to make her own decisions. At times she’d really want both, especially for toys and books, and that gave me the opportunity to teach her how to save her own money.
Although she might not know the exact value of money yet, what’s important is for her to learn that SHE can buy something she wants if she saves her own money. We hope that it will make her learn how to strive for things she want and inculcate in her the values needed to make her work hard in the future.
To try and encourage her to save, we’re looking at money boxes for children and maybe having it customized with her name on it. We’ve seen a lot of designs that I’m sure she’ll love so I know getting her own money box is a superb idea. Since she now fancies horses and loves riding carousels, I think this is perfect for her.