How can you teach your kids to be fiscally responsible, even at a young age? Once they’re older, how can you instill smart money-management habits? By making money matters an educational and fun challenge.
Start when they’re young. Remember the first time you saved and saved and paid for something on your very own? What a sense of accomplishment for a child! Start your little one saving young with a piggy bank that he or she can see, touch, feel, shake, and hear sounds that change after inserting each coin. Next, consider getting a digital piggy bank that tracks savings. For example, the decimal point and numbers show the amount inside “Piggy,” teaching your child what the numbers associated with the money look like. With each “cha-ching,” your children will see how saving money adds up – a very important lesson to help teach your kids about money management.