Learning to save is a healthy habit for children and is not only the bridge that will allow them to achieve a goal in a given time, but it is also the key to forming financially responsible, capable and bold individuals.
With the premise that every sacrifice to save will be rewarded, parents can have the greatest influence in developing healthy and lasting savings habits in children.
Encouraging children to save at an early age will give them the chance to get simple things like ice cream, a toy or an outfit. Later it will be a bicycle, a cell phone or a video game and, in adulthood, a car, a Caribbean vacation, an apartment or a house.
Importance of saving
It is very positive to transmit to your child the idea of saving, giving them the opportunity to responsibly dispose of their savings is already meritorious and rewarding. It is important to instill in them that perseverance and sacrifices give satisfactory results.
Teach your little one to create a savings plan, help them sort their accounts to know how much they can save by setting their priorities; this is also a good way to put math into practice. Teaching your child to save will not be a problem if they also do it at home, as the saying goes: "lead by example". If parents are thrifty, their children will be too!
Reinforcing the child's savings behavior will convince him/her that he/she is on the right path and parents will feel that this path will lead them to the good management of their personal finances in their adulthood. Praise and congratulate them when they achieve their first goal.
How to do it?
When talking about finances with the youngest members of the household, it should be done in a simple way, so that they find it interesting and entertaining. It will be fundamental for their future if they learn the value of study, work and money.
Encouraging savings in your little one will turn him/her into a person capable of making financial decisions in accordance with his/her economic capabilities. But don't forget to also teach them the importance of being generous; that's why helping others is included as one of the best uses they can give to money; this way they will establish a healthy relationship with money and far away from greed.
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When instructing your little one about the importance of saving, it is necessary that they understand the management and control of money, establishing savings goals with them so they can acquire the little things they ask for and remember to provide a piggy bank for them to keep their money.
It is never too late to teach children to save, however, it will be much better if they start early, from the age of 3 they will already be able to start saving with the guidance and support of their parents.
So, start now to teach your little one the importance of saving!
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