Three Ways to Show Your Youngster the Importance of Saving

Preparing to get back into the school year routine is a great opportunity to get your youngster into other great routines too.  Kids are never too young to start saving, but often it’s easier said than done.  Here are three ways you can get your kids excited about saving.

1.  Set goals with your child – whether you are giving $5/week for good chores completed or $1/week, showing your child how that amount can add up to something is important.  Give them a goal of a certain amount saved with an incentive.  You know your child the best, so set a goal that will speak to them. Maybe it’s ice cream or maybe it’s a new pair of shoes, whatever will get them excited!

2.  Get Visual – once you’ve set a goal, get a visual tracker that your child can easily understand.  Maybe it’s a giant thermometer that will let them see how close they get.  This will also help solidify the idea of small amounts all adding up to a larger amount over time.

3.  Student Credit Unions – if your child’s school has a student credit union, this can be a great way to get them to continue thinking about saving when they’re not at home, too.  Honor has 13 student credit unions in local elementary and middle schools right now that make saving fun and exciting for kids of all ages.

What other ways do you get your child excited about saving?  Let us know on twitter @honorcu using #askhonorcu 

Listen to the Mason Jar Monday about fun ways to get your kids excited about saving money from 97.5 Y-Country below!