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5 Tips: Teach Children to Save

Money Box Cover Image.jpg

It’s National Teach Children to Save Day! We are here to show off our cute money boxes and to provide you with a few tips for helping little ones saving their pennies for a rainy day.

Money Boxes

Not only are they a charming addition to their room, a money box can also help children learn the importance of saving. Teach them that they must fill their piggy bank full of their pocket money until they can’t fit another one in! Ensure you remind them that this is money for future and that the longer they keep it up, the more their money will grow!

Keeping Track

A timeline for saving may be a tricky concept for children to grasp. A fun way for you to help them track how they’re doing when reaching a savings goal is with visual encouragement. Create a timeline for mini goals along the way with dates and amounts. Every time they reach a new goal, use a sticker or a marker to celebrate! This will keep them on track and give them a better understanding of how long it will take depending on how much they save!

Be a good example

Have your own savings jar and add funds regularly. Let them know that every time you get money, you set a portion aside for the future. Don't worry, we've got loads of fun money boxes and jars for adults too!

Chores pay off!

Teach them the value of money by having them earn it through chores around the home. Once they feel that they have earned it through hard work, you can teach them the difference between wants and needs for how they then wish to spend that money. You can use your own budget as a guideline for them to create their own.

Mistakes are lessons

Tempting as it may be, do not step in if you think your child is going to slip up with their spending or put away less than they promised. Once they realise it was a mistake, you can let them know how to do better next time.

We hope these tips help your little ones to have big, bright and financially fantastic futures. With our wide range of money box designs, choosing the perfect one may be the hardest step of all! 

Already using one of our money boxes? Let us know! 

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