Teaching Kids Savings Habits
Teaching your kids healthy savings can be so beneficial for them in the future! But how do you start a savings habit with your kids? Here's a list to help!
Find Something to Save For
Whether it's a vacation or a new toy they've been wanting have them save for it. Keep track of how close they are to reaching their goal! They'll get a boost of self confidence when they can purchase what they've been wanting by themselves.
Percentages
Teach them to save a percentage from their allowance. Have them set aside a certain percent of their allowance and they can pocket the rest as spending money.
Treat Yourselves
Self care is also important when teaching your kids about money. Sometimes it's ok to splurge a little. Sometimes we need a little pick me up. As adults we grab a fancy coffee from our favorite coffee shop after a hard day. It's ok to set aside money for self care.
Set a Good Example
Our children learn by watching us. Let them see you budgeting and managing your money. Don't give in to every little thing they want. I know people always say to never tell your child that you can't afford something, but that is reality. Sometimes we just can't and we should be setting realistic expectations for our kids.
Happy Saving!
<3 Bri