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.