Teaching kids to save money from an early age
When teaching kids to save money, it’s important to start at a young age to build good money management habits. Saving money isn’t always easy, no matter what age you are. As you begin your life as a parent or grandparent, how do you teach your children to save? Whether it’s learning to count or counting the pounds for the latest toy, kids and saving are linked from the beginning.
Teaching kids to save is no easy task as more than 15% of parents say they don’t feel confident teaching their kids about money. But introducing money to children doesn’t have to be taxing; there are fun and simple ways to introduce finance at every age and stage – believe it or not! Whether you have children that are under seven, or your kids have hit their teenage years, knowing how to deal with money and the best ways to save it will help them, especially later in life.
It’s hard enough as an adult saving money, so you may be thinking how on earth are you going to start teaching your children to best way to go about it? Luckily, Sainsbury’s Bank have detailed a few different teaching methods to introduce finance to kids of every age that you can check out below…