Get Kids to Save Money

Saving money is the one thing we all agree on in our family.  Something we can do every day is to teach kids to save money.  No matter what we are purchasing, whether groceries, gas, clothes, toys, or services, there is always a discussion of how to save money on that purchase.  Our children know what the standard response from us is any time they ask if we can buy something:  “How much does cost, is it on sale, and is there a coupon for it?”  Many people might think this is a bit extreme but it is important to us.

By asking these questions, we have been able to teach our kids ways to save money.  In addition, they have learned to avoid impulse purchases.  Here are some of the things we’ve taught our kids to look at in order to save money:

Get Kids to Save Money

 

• Price tags:  By looking at the price tag, you can learn a number of things such as the regular price, the sale price, and the unit price.
• Coupons:  The hunt for coupons (whether they be in “blinky” machines or on product displays) is not only fun for kids but makes shopping easier on parents since the kids view it as a treasure hunt.
• Name brand vs. store brand:  What is the difference in price?  What if we have a coupon for the name brand item?  Will the store brand item still be a better deal?

Get Kids to Save Money now! No matter what your child’s age, there are lessons to be learned.  The youngest of children can learn what money is.  By the time our son was three, he knew four quarters was worth more than four dimes, which was worth more than four nickels, and much more than four pennies.  Each shopping trip is an opportunity to teach kids about money and ways to save money.

By including our children in the decision making process, we’ve laid a foundation for their future.  Let us know what tips you have to Get Kids to Save Money.  We’d love to share them with our readers!

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