Tips To Teach Kids How To Save Money

Last Fall our then 4 year old told us he was going to start his own business

We asked what his business would be

He said shoveling driveways.

He named his company "Jonathan Makes Money".

Several months later he was so excited to see the heavy snow.

So he and his free intern (me) went to work.

His goal was to save money to buy a car when he is 16!

When Should Kids Get their first savings account?

Kids should open their first savings account when they are old enough to remember the learning experience

Why is opening a savings account important for kids?

Every day, each of us spends money, makes money, invests money, or saves money.

but...

The school systems don't really teach financial basics.

But parents can!

Talk to your kids often!

Explain the tradeoffs of spending vs savings often.

Click Learn More for ideas and strategies to help teach kids how to save money.

Click "Financial Basics" if you are looking for your own starting place