Stretch Your Dollar: Teaching your kids about money

(Image: Shutterstock)

(WTNH)– Saving money is seen by many as a very “adult” responsibility but it’s a conversation you should also have with your children.

Perhaps the best advice, your children will start to save by watching you save.The folks at “Windgate Health Management” says it all starts with a piggy bank and works up from there.

A penny or quarter here… a dollar there… in their piggy bank is an easy and fun way to save. Tell your kids to stuff as much money in there as possible until there’s no more room.

After that, have them count it all up and open up a savings account for them. They’ll have a good understanding of how much money they have and how interest works.

If your child wants something, tell them they have to save up for it. You can put various jars in their room with a picture of the item they want on it and when they get money, they can put it in each jar.

Experts say money shouldn’t be a taboo subject. Tell your kids it’s important to save. If they ask good questions, it could get them down the road to having a positive relationship with money.

WTNH NEWS8 provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Commenters who violate these terms, including use of vulgar language or racial slurs, will be banned. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review. Also, you can now block any inappropriate user by simple selecting the drop down menu on the right of any comment and selection "Block User" from there.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s