A big part of your child's financial education is kids savings. You
should stress the value of putting some money aside in the event of an
emergency or for a rainy day. To encourage your children to save their
money, you should set some goals for their saving activities.
This is just a small part of the valuable information that you will
find in our e-book about teaching finance to children. At www.TeachingChildrenAboutMoney.com
we know what guidelines you might need when you are teaching financial
information to your kids. Very young children can appreciate and learn
the power of kids saving if you present it in the right way.
Helping your kids prepare for their future with a wise plan for putting
money aside is the duty of all parents. Too many children and even
adults don't value the restraint that is needed to put aside a portion
of their money for a rainy day. It should be considered paying yourself
when you put a percentage of your income in an account for when you
might need it. Many people have separate accounts for their investments
and savings. It is important that you determine ahead of time how much
you will be putting away and stick to it.
Savings for kids can be as simple as a piggy bank in their room that is
used to put money aside for something special. As they grow older
having an account in a bank can be used to show the value of interest
and how their money can begin to earn them additional money. This is a
wonderful concept to teach to children and it will encourage them to
put the money into the account and watch it grow. If they have
something special that they want to buy, a steady plan of putting aside
money will help them to attain it that much faster. Show them these
lessons and they will be avid savers through to their adult years.
There are some interesting ways that you can encourage kids saving in
our plan at www.TeachingChildrenAboutMoney.com
You might have to use some creativity and imagination to keep your
children interested in the financial lessons that you are trying to
pass on. We can show you some simple techniques that your child will
respond to in the early parts of their education. There are even very specific
lessons on investments for children that will have them
putting their money to work for them. Just watch them build a portfolio
once they have this kind of information.