Best Savings Tip for Ages 4 to 10

I wanted to offer a Kidz 4 Money tip on preparing your child for a life of eager saving. In the home, one of the most discussed topics is money, whether indirectly or directly. Kidz begin to learn at early ages that money has a value and too often that value equates to spending in one way or another. Start your child early with a solid savings plan. It could be from an allowance, gifts, or even money found around the house and have a consistent place where that savings is kept. Now, the best way of separating this savings from the element of spending is rename this saved money as 'Points'. Every child loves to play challenging games and most like to win. The 'Points' system automatically turns saving from a chore to a fun activity. This small name change from money to points will give them a festive feeling of accomplishment and an eagerness to excel. Offer thresholds of achievement during the savings plan, rites of passage, and celebrate them. The name change also gives the savings a distinction unrelated to spending. Start them as early as 3 or 4 and even as they grow to understand that the 'Points' is just money, they will have developed a habit of winning and saving.