Teach your children how to ...

Save Regularly

Teach your children how to SAVE REGULARLY - it's a confidence builder.

Quote: "With money, it's not what you make it's what you keep" Paul Brown.

Children learn by doing. They gain confidence by practicing and acquiring skills. Teaching them successful saving strategies helps them learn the fundamentals of sound money management. Here are some tips to help them become successful savers.

Tip 1: Make sure they have followed the PAY YOURSELF FIRST (PYF) step and have setup 2 Savings accounts. After depositing the 10% into their PYF account encourage them to put the rest of their money, that is not being used for regular spending, into their regular savings account.

Tip 2: Show them how saving some of their money on a regular basis allows them to buy the things they want and set goals for those "big ticket" items.


Benefits of SAVING REGULARLY

• Teaches the skill of how to save & builds that habit.
• Encourages budgeting.
• Supports the learning of delayed gratification.
• Introduces the "language of money" eg: interest, compounding.
• Encourages the acquiring of a life long skill.
• Builds their confidence.