| Your daily routine provides a number of teachable | | | | know that money is not just for spending. Every so |
| moments. They grocery shop with you, they watch | | | | often you can sit down with them and see how much |
| you go to work, they love the spending money you | | | | they've accumulated and tell them that this is money |
| give them, they listen to how you feel and think about | | | | for a future goal. A toy, a store trip, college or |
| money. All impressionable moments they keep with | | | | whatever other goal you decide with them. |
| them. Give them a healthy respect for money. It's not | | | | Letting them have their own bank savings account is a |
| the end all and be all, however, it's necessary to | | | | great way to teach them financial responsibility and |
| manage it properly in order to function in a healthy | | | | balance. Let them make the deposits to their savings |
| way. | | | | accounts. Help them fill out the deposit slip for their |
| If you don't already, let them know why you're going to | | | | deposit. Take the time and let them stand on line in the |
| work. Let them know that it takes working day in and | | | | bank and make the deposit to the account. When their |
| day out to make money to pay for everything in the | | | | statement comes in the mail give it to them unopened |
| home. The food, the video games, the clothes etc. | | | | so they can open and read their monthly statement. |
| Seeing you get up every day and going to work | | | | Give them a folder for keeping track of all their |
| provides the impression of financial responsibility that | | | | deposits and statements. |
| lets them know that they too eventually will work for | | | | Choose a consistent amount for them to contribute. |
| an organization or themselves one day and have to | | | | For instance, if you give them $9 spending money, give |
| be consistently responsible. | | | | them $1 for their savings account. The dollar amount is |
| This is especially true on the rough days. The rainy | | | | not the important part. What is important is that they |
| days, the semi sick days, the minor headache days, | | | | learn the behavior of consistently saving. |
| the bad mood days. Let them know that it's those | | | | Try to choose a bank that is close to home or school |
| days that you must get through to be financially | | | | that way at some point during the week you can |
| responsible. It obviously also gives them a healthy work | | | | make time to visit the bank for the savings contribution. |
| ethic but it's part of the necessary process for them | | | | Time constraints are a serious challenge however, try |
| to consistently work and bring home a steady | | | | your best to keep these appointments. Remember, |
| paycheck to pay bills. | | | | traditional school classes are not teaching this kind of |
| Piggy banks or child friendly safes are a great way for | | | | money management behavior so this is the role that |
| them to get started saving when they are very young. | | | | you can play to fill that void. They have to learn this |
| Let them put their spare change in them so they can | | | | behavior to function well in the real world. |