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Home > Videos > How to teach children to save money - बच्चों को बचत करना हम कैसे सिखा सकते है? | Indianmoney Hindi

How to teach children to save money - बच्चों को बचत करना हम कैसे सिखा सकते है? | Indianmoney Hindi

Every year, one day in April is designated as "Teach Your Children to Save Day," a day that is all about enlisting parents to help their kids become smart about money from an early age. According to a 2019 National Foundation for Credit Counseling survey, just 55% of adults give themselves an A or B when grading their knowledge of personal finance, making the financial literacy of the next generation even more urgent. Saving money is a habit that parents can teach their children at a young age.  The first step is to explain important concepts like savings, a budget, and goals—then keep the conversation ongoing.  Giving children an allowance can teach them the value of money and the importance of hard work. Younger children might keep their savings in a piggy bank, but older ones might want to keep their money in a real bank while working on their goals. Children can learn the importance of living within their means, which is one of the basic tenets of saving. Tips to Teach Your Child to Save Money :  1. Discuss Wants vs. Need 2. Let Them Earn Their Own Money  3. Set Savings Goals  4. Provide a Place to Save  5. Have Them Track Spending  6. Offer Savings Incentives  7. Leave Room for Mistakes  8. Act as Their Creditor  9. Talk About Money  10. Set a Good Example

 
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