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.
- 52 Money Save Ways: Week 15: Splurge When it Matters
- 52 Money Save Ways: Week 14: Wash Your Car At Home
- 52 Money Save Ways: Week 13: Meat-free Monday
- 52 Money Save Ways: Week 12: Create a Price book
- 52 Money Save Ways: Week 11: Avoid Fees
- 52 Money Save Ways: Week 10: Cut Your Own Hair
- 52 Money Save Ways: Week 9: Watch your Electricity
- 52 Money Save Ways: Week 8: Turn Off The Tv
- 52 Money Save Ways: Week 7: Drink More Water
- 52 Money Save Ways: Week 6: Maintain your car
- 52 Money Save Ways: Week 5: Reap the Rewards
- 52 Money Save Ways: Week 4: Practice the Waiting Game
- 52 Money Save Ways: Week 3: Buy Seasonings in Bulk
- 52 Money Save Ways: Week 2: Buy Your Clothes Used
- 52 Money Save Ways: Week 1: Make Lists
- 52 Week Money Challenge
- 52 Week Money Challenge Tracker (Printable and Electronic Versions)
1 Comment