How can we teach children to save

Does your child know the value of money? Does your child know how to save? Those have been one of the lessons that has cost me the most with my daughter. How difficult it is to teach children to manipulate money without giving it much importance, right? In my house, we started teaching our daughter

Does your child know the value of money? Does your child know how to save? Those have been one of the lessons that has cost me the most with my daughter. How difficult it is to teach children to manipulate money without giving it much importance, right?

In my house, we started teaching our daughter to recognize each coin, each note, and then relate them to the value of each item such as bread, milk, fruits ... Once she learned how much it cost a few things, we started teaching her why saving is so important

The value of money for children

There is no educational method or school that teaches a child to manage money and is something that will always be present in our lives. Children learn to use money naturally and spontaneously, by imitation or example they see at home. That is why it is so important that we are always and as far as possible, a model for our children.

Where should we start teaching savings to our children? Let's start, for example, to tell them that money does not grow on trees or reproduce like fish in the sea. What should children learn?

1- That money is used to acquire something in return.

2- That a thing is a whim or a wish, and quite another is a real need. That is to say, money is above all to meet our needs.

3- Not everything you want can be obtained with the money.

4- That everything has a value and a price.

5- That their parents can not have unlimited amounts of money. Money has a limit.

How to get the habit of saving money

Once the child has assimilated the value of money, it will be time to teach him to save, that is, save money. It is important that little by little children have control of their personal finances. In addition, it will help them to be more organized and responsible with their resources.

You can teach your child how to save, for example, by inviting him and doing grocery shopping with him. Tell him he has X of money to buy a list of things. If you save, for example, buying quality products but at a cheaper price, you can spare money so that the next purchase is not so limited, or simply to use it to treat you, or to keep it in a piggy bank or a savings account. This technique can be used with your child when they go to a stationery store to buy school supplies, or to a bookstore, or even to an amusement park. You save here so you can spend there.