52 Money Save Ways: Week 16: Teach Your Kids About Money

52 Money Save Ways: Week 16: Teach Your Kids About Money

52 Money Save Ways: Week 16: Teach Your Kids About Money

Welcome to another week of Money Save Ways tips. If you are just joining us, make sure you look at previous weeks as there is a lot of valuable ways for you to save money in everyday life.  The tips contained in this series are designed to be a supplement to the 52 Week Challenge. If you are following along, place $16 in your savings this week or $37 if doing it in reverse.

 

52 Money Save Ways: Week 16: Teach Your Kids About Money

It’s no secret that having children is an expensive venture to take on. They have so many needs and as they get older, quite a lot of wants as well. It can be draining on anyone’s income, no matter how much money you have. There are so many joys to parenthood, though. One of them is knowing you are teaching your children good lessons that they can take with them into adulthood to be well adjusted adults.

One of the most important lessons, in my opinion, is teaching your children to understand the importance of spending money wisely and living frugally. It is not only important for their growth and development into maturity, but also so your family can save money in any way possible.

One way to do this is to help your children understand needs vs. wants. With small children, and even teenagers, it can be hard for them to distinguish the difference. One way you can help them is to practice the waiting game. This can be hard for small children to do, as we know that they aren’t well-known for their ability to be patient, but it will pay off in the end.

Another way you can do this is through allowing your children to have opportunities to earn money for something they want. Children are often impulsive, but if they see that saving up takes time, they can learn that in reality, getting things you want takes work and time. Your children might even surprise you and decide that after saving up for a while, they don’t want the original item as much and instead want to buy something else.

If you can find ways to curb your children’s impulsive wants, you can ultimately save money in the long run.

Be sure to check out some of my other tips to help your kids save money and make it fun:

10 Ways to Save Money Teenagers

Fun Ways To Save Money For Kids

Make sure you check out past weeks for more Money Save Ways tips.

 

Tatanisha
Thanks for stopping by! I'm Tatanisha! When I'm not blogging here on the latest Meijer Deals, our latest travel adventures or stuffing my face with a budget-friendly recipe, you can find me over at A Worthey Read! I love to do simple DIY projects, drinking wine, watching the latest reality show or just having fun with family and friends. I'm always looking for ways to save money, but value quality over quantity. I enjoy reading and also finding out ways to keep up with the latest social media changes!
Tatanisha

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  1. […] Some parents are afraid to teach their kids about money because they may “scar” them from their childhood. Your kids don’t need to know about your financial problems, but it’s okay to teach them about paying off debt and why your family tries to cut back on save money. Read: Get kids involved with saving money! […]

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