It is very important that more people, of all ages, learn and have financial education. Children that acquire habits such as saving and the value of money, tend to have more healthy personal finances as they grow.

According to the results of the last National Survey of Financial Inclusion (ENIF 2015),  66% of adults were taught to save during their childhood and from this group, nine out of 10 received instruction from their parents.

Because of this situation it is important that children learn more about saving and the value of money, and as a parent you can implement the following actions to ensure that your children have better financial results:

How to Teach your Children About Saving

  1. Value of money

Earning money is both educational for children as well as helps them to be more responsible. The important thing is that they learn that money is obtained through work or the exchange of products and services.

They could start selling some product outside their home (under adult supervision), if you have several children, it is also an excellent option to teach them teamwork; The biggest brother can take care of the money and the other takes care of the sales, for example.

 

  1. Savings goals

Educating your children about knowing how to save and the importance of doing so is very important. The best way for your children to learn to save is through habit. You can give them a piggy bank and teach them to keep part of their money.

One way to make your children save is to set goals. For example, buy the video game, some toy or special experience.

 

  1. Good example

The best option to teach your children to save and have healthy personal finances is by example.

The model you show your children has more influence on them than any advice you can tell them, so if you want your children not to suffer from financial problems in the future, it is essential that you have healthy personal finances.

Show them how you make your budget, how you look for the best deals, how you save, how you invest and also explain to them what and how, while you do it.

Remember that your children are the most important thing you have and giving them a good financial education is the best thing you can do for them to avoid problems in their adult life.


Check out America's Best Bookkeepers
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file, critical financial documents and back office tools in an efficient and secure environment. Complete Controller’s team of US based accounting professionals are certified QuickBooks™️ ProAdvisor’s providing bookkeeping, record storage, performance reporting and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay services. With flat rate service plans, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.