Teaching Your Kids to Save
Once children are in elementary school they are ready to start learning about money management. This is a perfect time to start giving an allowance for chores and open a savings account at your local bank. One idea is to have two buckets-one for saving and one for spending. This helps introduce children to the concept of dividing their money so that some gets allocated to savings. Talk to your child about how much they are permitted to spend and how much they should save.