Teaching Your Child to Save Money

It is hard to know how to teach our children the value of a dollar. When they start getting allowance and growing up – they seem to want it all. There are some ways we can help them appreciate how much they have, while learning to spend on only necessary items.1.A Family Vacation Jar is a great way for everyone to work together for a desired vacation. This will show children how much money it takes to eat out, get a motel, and go to amusement parks, museums, resorts, etc. Everyone will probably value the trip more and not take it for granted.2.Allow children to make their own lunch or clothing purchases. You can give them $20 for a pair of pants for instance. Watch them select their clothes much more carefully! Also, most children don’t realize how much it costs to eat out these days. If they only have $4 for lunch, that super-large drink might just turn into a small!3.Teach them to tithe by asking them to give some of their allowance to their church each Sunday. This also teaches them to be generous to God and others with their money.4.Start a bank account for each child when they are young. Put monetary birthday gifts, etc. in there. They will be able to see how long it takes to save money, and also how it is beneficial. When they are wise enough and old enough; they can be allowed to access the amount themselves.Teach your child to take pride in what they have. That includes their finances.