The act of saving money is for everybody.
It is not only for the adults.
But also for the kids.
How do I teach my kids to save?
My girls help in doing household chores.
They decided to divide between them the things needed to be done at home.
Small tasks like watering the plants.
And feeding Tiny, our pet.
Sometimes I buy them something as a gift.
Or I give them a few dollars and/or some coins.
The moneys I give them, they decided to save.
For a start, we bought a small box where they can put their savings.
It is a small box as simple as this.
It’s worth 25 cents at the store.
Eventually we got a book-like bank shown below.
We call it a bookie-bank because it looks like a book.
It’s like this though inside.
Zoe, my younger daughter, puts here her savings.
There’s a small notebook and a pen inside.
She uses these to monitor her savings.
Faye on the other hand has this wooden box bank.
She just inserts the savings money in the hole.
The girls save a dollar or few dollars at a time.
It adds up.
The important thing is they know the wisdom of thrift.
And the value of saving.
They have learned that they can’t just spend every penny they have.
Like what Faye said, in times of emergency they have money to use.
And by the way, if I think that they already have more than $20 in their bookie banks.
I tell them my schedule of going to the real bank.
And casually ask them:
“Do you like to put money on your real bank too?”
They both have kiddie savings account in the real bank.
They are responsible in filling up the deposit slips.
When they have no classes, they come also at the bank.
Where they personally deposit their money to the bank teller.
They also fall in line.
Wait for their turn to approach the teller.
All their bank transactions they are responsible in keeping them.
They each have a folder of their bank records.
We need to start them young.