In previous content, I have explained "How to Grow Your Saved Money?" But for this, you need to save the money. Saving is the habit. All do not save the money because they have the bad habit of consuming all earned money. If you can teach your children to save money by telling its importance, your children can make it as the part of its habit. Same money, they can invest to grow their business in future.
So, this content will help you to teach the steps about "How can a Child Save Money?" Same lesson, you can teach to your children.
1. Tell the Importance of Saving
My dear child, if you save today, you can make your better tomorrow. Today, I am giving you pocket money and taking the burden of all your expenses. So, it is your duty to save some of your pocket money. In future, I am unable to give your pocket money, you can get all time free pocket money because if you have big saving, you can deposit it in bank and get big interest on it which is more than the actual pocket money amount.
You have lots of dreams but I am giving very low pocket money. If you will start to saving, you can achieve all your dreams because you can invest your saving in business where you can get big profit on it which will be enough to achieve your dreams. In simple words, if you save today, you can smile tomorrow.
Moreover, you can read 10 benefits of saving money.
2. Buy the Saving Box
Every parent should buy the saving box. Tell, your children, it is best place where they can keep their money. Now one can take his or her money. It will surely encourage your children to save.
3. Divide the Pocket Money Saving Reward Policy
When you will give the pocket money, use the policy of divide pocket money into saving and consumption. If you child like to save money, give 10% pocket money. But its single money is to save 60% of saving of total pocket money.
6. Add Child's Saving in Big Locker
Now, saving box will full. Mind of your child will say to consume the money. Control on your child's this bad habit. Buy the big locker. Keep, your child's saving in it. You can also open your child's bank account also.
7. Teach to Reduce the Expenses
There are lots food which are harmful for your children. Your child waste the pocket money all such food and all these food also increase the health cost. So, teach 19 tips to your children to reduce the expenses.
8. Earning More Money for More Saving
You should also teach to earn money from childhood. There are lots of activities if your child will help you, you can give reward for his saving. For example, your child can grow the own vegetables in your kitchen garden, it will reduce your vegetable cost and it will be the earning of your child. Give save money to your child for saving.