• How to Teach Your Big Kid to Save

    Here are simple and practical ways to help impart to your big kid the value of saving money and energy at a young age.
  • piggy bankSaving money is a lesson parents should teach their children. It imbues discipline, responsibility, patience, and other valuable qualities a child would need later in life. Children today have a precedent that those before the Internet age do not have.

    The world is literally at their fingertips—from their cellular phones right to their personal computers, they have access to more information and market places than any single person can process.

    Start them young; they’re more likely to keep good habits all through their lives when they learn early. no small change. Bring your child with you on grocery trips. They will most likely notice your transactions; and when they do, it’s the best time to teach and explain.

    •    Giving them ten pesos to buy snacks at the local grocery store is a good starter lesson on budgeting and purchasing. If a small pack of snacks is worth five pesos and your child handed over a ten-peso coin, explain to him that he should expect one five peso coin or five one-peso coins in change. Your little tyke will learn about denominations through this process; remember your child will have to handle real money in order for him to learn how to use it.

    •    Putting money inside a piggy bank can also be a fun activity for your child. Together, keep tabs of what he has put inside. You can do this via a small chart with stars or other paraphernalia representing his peso. If next time, he asks for snacks for your next trip to the grocery, have him draw the amount he needs from his collection and subtract the corresponding star or stars from the chart.

    •    An allowance should match the child’s age. Before they turn age 9 or 10, you will have given them a small allowance and paid them for chores they don’t usually do. By the time they are in grade 5, their allowance should come with a budget so they will learn to spend within their means. conserve and preserve. It also happens that conserving energy around your home can save you money in the long run.

    In The Times article “Cut Carbon Emissions Now or Face Economic Calamity Later,” by Greg Hurst, the author warns that the cost of confronting climate change far outweigh the consequences if human beings do not. Applying green habits with your children will teach you and your kids of your part in taking care of our planet.

    ADVERTISEMENT - CONTINUE READING BELOW

     

    Click here to learn more ways on how to teach your big kid to save.

      1  of  2  NEXT

View More Stories About
View more articles