Tips for Teaching Children to Save: Start Early! - Saving is the most basic and important thing for human survival. Reported from cermati.com, saving can improve mental health. We will get used to being disciplined, the mind can be calmer. So that children can grow up to be someone with a healthy financial situation, the sciences of saving must be taught from an early age. Therefore, let's start learning and teach children to save!
By saving, there will be many benefits that are felt by children. Children will become confident, parents will no longer be anxious in supervising their children's finances. Well, here we present tips to teach children to save. Come on, take a look!
Also Read: Teaching Children Responsibilities
Tips for Teaching Children to Save
Give an Understanding of Money
Before teaching children how to save, first give them an understanding of the meaning of money. Give an understanding of what money is, its uses, and the types of money that exist in Indonesia. Also explain the amount of money. Given this understanding, children will appreciate money more.
Set Savings Goals and Timeline
So that children are more enthusiastic about saving, help children to set savings goals. Allow children to buy things they want. Once the goal is set, help the child calculate the value of the savings goal. Also make a savings timeline so that the child knows how long it will take for the savings to be sufficient. That way, children will enjoy the process of saving.
Help Children Refrain from Spending
During the process of saving, of course there will be times when children are bored and tempted to buy other things outside of their savings goals. Moreover, when they are in a shopping center, children are easily distracted from what they suddenly want. Help the child to refrain from spending, namely spending money outside the purpose of saving. Encourage children to be disciplined and responsible for their choices.
Give Money
Because children already have a saving goal, we must also provide income for their savings. So, give the child money to save. When there is a celebration, give more money than usual. When there is nothing, you can just give money to the child.
However, if you want to give money and play at the same time, give your child a little bit of work. Then, give money in return for the task. You can use the Assignments feature in the Whiz finance app to digitally assign tasks and increase your savings!
Be a Good Example for Children
Parents are role model for his son. When you want to teach your child to save, save is good too. All advice given to children, from setting goals, proceeding, and discipline, apply to yourself. As parents, we must be able to go hand in hand with children. Be better, so that children will also be the best! It also helps you manage your savings, you know.
Create a Fun Atmosphere when Saving
As a parent, you have to help your child think that saving is fun. Because the process is long, use creative ideas so that children don't get bored. You can invite children to draw a piggy bank. You can also create a satisfying atmosphere, such as breaking a piggy bank with a celebration. Children can feel euphoria which made him addicted to saving.
Benefits of Saving for Children
If children have saved from an early age, many benefits can be felt by children. Children will be more disciplined and efficient in managing their finances. This is very helpful for parents. In addition, by inviting children to save from a young age, children will be more confident. It also fosters a bond of mutual trust between parent and child.
Other savings benefits are explained in the link below. Please read, yes!
Also Read: The Benefits of Saving for Children, What Are They?
Although every family has different saving habits, hopefully the tips above can serve as an illustration of what to teach children about saving. You can also use financial apps to help kids save!
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