Finances for the little ones: here’s how to teach your children to save

teach children to save it’s a financial capacity valuable information that will serve you throughout your life, with patience and consistency little by little you will acquire a solid understanding of how to manage your money and develop healthy financial habits. According to conductFrom the age of three, children begin to recognize coins and they understand that money is used to buy things, so it is beneficial to encourage the habit of saving from this age.

How to teach children to save?

According to experts in the field, it is important that children develop healthy financial habits from an early age, as it gives them the tools and knowledge to manage their money well in the future. By cultivating these habits, children will learn to manage their resources, to take informed financial decisions and set realistic financial goals, this will allow them to avoid debt problemsmanage your money responsibly and build a strong foundation for your financial well-being throughout their life.

And although the subject seems quite complex, some strategies have been adapted so that the little ones can learn to save, as well as mothers and fathers must be present to convert the saving in a habit and guide them with information according to their age; Some strategies are:

• Establish goals: Help your children set realistic and achievable savings goals. It can be something small, like saving for a toy, or something bigger, like a family trip. Encourage them to visualize the goal now pledge to save to reach it.
• Give them an allowance: Give your kids a regular allowance or allow them to earn extra money through extra chores. Teach them the importance of setting aside part of their allowance to save, and you can suggest that they allocate a specific percentage or a fixed amount each time they to recieve money.
• Teach Them How To Budget: Help Your Kids Understand how to manage your money allocate different percentages or amounts for different purposes, such as savings, personal expenses, and donations. Teach them to keep track of their bills and adjust your budget as needed.

• Encourage informed decision-making: Invite your children to compare the prices and features before making a purchase. Encourage them to research and evaluate different options to make informed financial decisions and learn how to get the best value for their money. money.
• Lead by example: Be a role model for your children by adopting healthy savings habits. show yours pledge to save and explain your financial decisions to them, it will help them understand that saving is an important part of adult life.
• Set up a savings system: Help your children establish a physical or digital savings system. They can use a piggy bank, a savings account, or a money management app. Be sure to praise and reward their efforts when they achieve their goals. savings goals.

In addition to the famous “little pigs” which allow girls and boys to save money in a fun way, some banks have implemented savings accounts Aimed at them, it teaches them more formally how a bank works, and even gives them tools to understand how ATMs work; Some banks that offer this service are:

• Azteca Bank (Guardadito Kids)
• Santander (junior account)
• BBVA (link card)