Each month we will provide you one action that you can start with your children now. Over time these actions will help to develop a habit of saving money.
This Month's Step:
Start by encouraging your kids to pay themselves first. When they complete chores, earn an allowance, or receive birthday money, have them put some aside into a piggy bank or savings account. Then, help them keep track of how much they save vs. how much they spend. If saving money seems too boring for your kids, incentivize them with a savings match (i.e. if you save $10 this month, I'll put $10 in your savings account as well).
