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Teach Children To Save Now 


When you teach children to save, some of them will just catch on really quickly. Some children just love to watch their little pile of money grow. If they will open an account with a credit union that will actually give them a prize every time they bring in a substantial deposit, it'll be like their official recognition that they've done something that matters. But how do you teach children to love to save like this?

The first thing you want to do is to not go in there braying about how they have to learn the value of money. You need to make it fun. That's the only way you'll ever make money appeal to them. A good way to actually get them to buy what you say about what's fun and what isn't would be to start them off when they are really young – before they start to think they're so cool they are embarrassed to even be seen talking to you.

 Now teaching a toddler about money can be easy. Even if it is an age when your child doesn't know the difference between monopoly money and real money. Young children see instinctively that there is something about money that's important. Some parents, to really show their children how money works, start a kind of in-house currency system.  You tell your child that he can earn house money for every little thing he does that is supposed to – like putting his toys away or something.

He can use the house money that he's earned and redeem it for TV shows he wants to watch or something fun. This could get your toddler started learning about how paper currency can actually mean something. When your toddler wants to do something really special – like be taken out on a trip to the amusement park or something, you could tell him that he needs to collect a certain number of house money bills to pay for it. This could be great way to teach children to save – to see that money actually stands for something.

When you move your child over to real money with an allowance paid once he turns five or so, he can easily make the lessons he's learned with the house money translate to the real money.

There are a lot of lessons to be learned about how to teach children to save that they can learn from the government. For instance, the government is so anxious to try to promote the saving habit among the citizenry that it will actually give you a tax deduction for money you save. The worker compensation rules of the land also have systems in place that encourage employers to match retirement fund contributions that workers make.

You could take a page out of the government's book and do the same for your child. Whatever he manages to save, you can promise to match it, to show your appreciation.

 



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