It is never too early to teach children about money management. Handling their finances well is an important skill they will carry towards adulthood. Their attitude towards money ~ whether in saving, earning, or spending, once they grow up and attain purchasing power will rely greatly on how they were taught about money when they were small children. Here are a few tips and tricks on how to teach the small ones about money and the value of spending it wisely and saving up.
Give Them A Piggy Bank
Smaller children may not yet grasp the concept of keeping a piggy bank, but it is ideal to teach them to save coins and bank notes as early as possible. Make it fun by getting them a cute piggy bank they cannot resist. Instruct smaller kids to put whatever money they get from families and relatives during holidays and birthdays into the piggy bank while the school-aged kids can set aside a portion of their school money to be put in the piggy bank daily.