Many would agree that teaching children to save early in life is an important skill, habit and attitude to learn. This short presentation shares 5 ways to start the savings habit in young children. It comes courtesy of Daniel Britton creator of the Financial Fairy Tales series of books, fun financial education for children
5 Easy Ways to Start the
Savings Habit in Kids
Daniel Britton – The Financial Fairy Tales
Encouraging your child to start
saving early in life can form a habit
that leads to financial freedom
1. Set an example – have a jar or money
box where you deposit your spare
Even better, use a series of jars, one
for saving, one for sharing and one for
2. Add interest – when your child is old
enough to understand the concept of
interest, you can act like a bank and top up
This gives a little more incentive to save
plus the opportunity to develop some
3. Open an account – go with your child to
the bank and open a savings account.
Then make an occasion about going to
4. Save for a purpose – it’s much easier to
create an interest in saving (excuse the
pun), when there is a strongly desired
outcome on the end of it.
Label a jar or piggy bank, or attach a picture
of what your child is saving up for
5. Be consistent – For saving to become a
habit it must be done regularly and often.
By doing something every day, like putting
in your loose change, the habit of saving
money becomes automatic
The Financial Fairy Tales
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