Teaching children about saving is easy

  Teach children the habit of saving early, and they will carry the habit into adulthood. Start a passbook savings account for them. They can visually see the results of saving at a young age this way. Use different envelopes or cans to separate savings from things they want to buy like toys or gadgets. Make them save some of their allowance or lawn mowing money, and it will become a habit they enjoy permanently. I like the idea of charting long term savings and short term wants. They can see how far they are from getting that new toy or game while still having the ability to keep something for a rainy day in the future. Teaching them this kind of balancing is going to be an invaluable life time lesson. See you next time. Finwiz.