Saving money is a habit that parents can teach their children at a young age.
The first step is to explain important concepts such as savings, a budget, and goals—then keep the conversation going.
Giving children an allowance can teach them the value of money and—if chores are involved—hard work.
Younger children might keep their savings in a piggy bank, but older ones might want to keep their money in a real bank while working on their goals.
Children can learn the importance of living within their means, which is one of the basic tenets of saving.
The first step is to explain important concepts such as savings, a budget, and goals—then keep the conversation going.
Giving children an allowance can teach them the value of money and—if chores are involved—hard work.
Younger children might keep their savings in a piggy bank, but older ones might want to keep their money in a real bank while working on their goals.
Children can learn the importance of living within their means, which is one of the basic tenets of saving.
