Tip Tuesday: Start a Savings for the Kiddos

It's very important to teach our children the value of a dollar when they are young, so having them earn money to put in a savings account is a great way to get started. Recently, my son said he wanted some new toy that just came out in stores. I told him that it was a lot of money and that he should try to earn it by doing chores around the house. His response..."No, you can just slide your card through that machine they have at the store."

It got me thinking. Does he think it's a magic card with an unlimited amount of money on it? Oh, I wish! lol So, I decided it's time to teach him that money is earned, not given. An easy way to do this is by getting a piggy bank or a jar for him to put money in. Here's the catch though...your child has to earn the money. Then, once it is full, go to the bank and start a savings for your child. A good way for them to want to continue to save is to make a goal of how much they want to save and/or a goal of what they are saving for. They will feel a great sense of accomplishment for reaching their goal and knowing that they earned it! :)

I hope this Tip Tuesday was helpful. Keep a lookout for more things coming soon. I have some projects in the works! :)