• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Home
  • BLOG
  • Meet Sarah
  • Shop With Me
    • My Amazon Store
    • LIKEtoKNOW.it
    • Buy Plexus (the pink drink!))
    • Buy Arbonne
  • Contact
  • Nav Social Menu

    • Facebook
    • Instagram
    • Pinterest
    • Twitter
    • YouTube
The Fashionable Housewife

The Fashionable Housewife

Because Moms Should Look Good, Too!

  • Fashion
    • Today’s Outfit
    • Outfit Ideas
    • Spring Fashion
    • Summer Fashion
    • Fall Fashion
    • Winter Fashion
  • Beauty
    • Hair
    • Skin Care
    • Makeup
    • Nail Polish
    • Organic or Eco-Friendly
    • Hair Removal
    • Sun Protection
    • Cosmetic Surgery
  • Health
    • Fitness
    • Weight Loss
    • Pregnancy
    • Vitamins & Supplements
    • About The Dukan Diet
    • Review of i-Lipo Laser Liposuction Treatment
  • Home Life
    • Home Improvement
    • Home Decor
    • Outdoors
    • DIY & Crafts
    • Homesteading
    • Finances
  • Marriage
  • Faith
  • Parenting
    • Baby Gear
    • Babywearing
    • Breastfeeding
    • Cloth Diapers & Diapering
    • Pregnancy
    • Natural Birth
  • Homeschooling
    • Raising Wild Saints
  • Recipes
    • Food & Snacks
    • Baby Food
    • Gluten Free
    • Keto
    • Coffee
    • Cocktails
  • Travel
    • Story Land in Glen, NH

Here Are 6 Ways to Teach Your Kids About Saving Money

Modified on March 17, 2023 at 6:38 PM

Sharing is caring!

0 shares
  • Share
  • Tweet

Money makes the world go around, so it’s a crucial concept that your child needs to understand. No matter their age, you can communicate with them about money on a level that makes sense. Every child can comprehend the benefits of savings. You can teach them how to save their money to take care of themselves when they’re older. When they’re equipped with financial literacy, they’ll be able to tackle their future without much trouble.

1. Show How Investments Can Help

Investing and saving are similar ways to grow your money over time, but they have different nuances. Investments are a great way to build your wealth and feed into something larger than yourself. Your child should recognize that investments shouldn’t be a get-rich-quick scheme. Rather, they should be considered a long-term solution to build wealth that will help them in the future. 

The market can be volatile at times, so you must communicate with your child that they won’t always see net gains with their money. However, it’s bound to appreciate over time, so investing is still a worthy use of their income.

Show them your investments. Make a point to look at them every day after the stock market closes. This way, you can show your child how their investments may fluctuate from day to day but still appreciate over time. It also demonstrates to them that they don’t need to panic in the future if it looks like they’re losing money on their investments.

2. Open a Bank Account

One of the best things you can do to set your child up for the future is to open a bank account for them. A bank account โ€” specifically a savings account โ€” will teach them the value of saving money over time. Interest can multiply rapidly, especially while they’re young. The compounding interest may be a draw for your child to continue saving. After all, when they put more money in, they will get more out of interest.

3. Be a Role Model

Your child will look to you for habits they should work on, from money to life goals. To show them how to properly handle money and savings, you’ll have to model good behavior for them. If you’re part of the 96% of Americans who pay their bills when due, you’re already showing your child how to be responsible with their money. You can show them all the options, like automating bills using technology, to work toward success.

You can also be a great role model by demonstrating how achieving financial goals is possible. Inform your child when you set a new goal, no matter how small it might be, and let them know once you’ve achieved it. It’ll be the best way for them to see that patience pays off. They’ll know that if you can reach your goals, they can as well.

4. Teach Them About Credit

If they’re old enough to understand the concept of credit, you must teach your child how to handle credit cards correctly. As they age, their credit will be essential to several things, like getting a loan or purchasing a home. If they know how credit cards work when they get their first one, they’ll be less likely to spend irresponsibly.

Show them small ways to increase their credit over time. Emphasize the importance of paying fees when they’re due and not letting them run over โ€” lest it has disastrous effects on their credit. Teach them there’s always a way to build their credit back up, just in case they make a mistake. You might even research credit cards with them to help them pick one out once they’re old enough.

5. Work on a Budget With Them

Budgets are essential, no matter your income level. They show you where most of your money goes and how to reduce purchases to achieve future financial goals. A budget journal can help you keep track of anything from tracking purchases to fixed expenses, and it can make you feel more responsible with your money. Getting your child a journal to track their money could be a great way to teach them the value of a dollar and why saving is important.

6. Answer Their Questions

When your child grows up, money will be an important asset in every area of their life. They’ll likely have some questions about how money works or what they could use it for. Have an open, honest discussion with your child about finances. Explain how saving money can help put them in a more comfortable position than if they spend without a thought.

Your child might have questions about your finances. It’s best to be honest with them. Were there any financial mistakes you’ve made in your past that you want them to avoid? Tell them about it. Your child can learn from your mistakes and be better off for it.

Teach Your Child the Ins and Outs of Savings

Saving money is an essential part of being an adult. Though it can be tempting to spend your money on something frivolous or an item you think you need right away, take a step back and put the money into your savings instead. Teach your child that the impulse will pass and that there are healthier ways to deal with complex emotions than through retail therapy. When they learn the many benefits of saving their money, your child might be more willing to spend smartly.

Related posts:

What To Do When You Can't Make Ends MeetWhat To Do When You Can’t Make Ends Meet Creative Ways To Save Money This Fall!Creative Ways To Save Money This Fall! Maximizing Your Wealth: The Advantages of InvestingMaximizing Your Wealth: The Advantages of Investing

Posted By The Fashionable Housewife
on March 17, 2023 at 6:38 PM
Filed Under: Finances, Homeschooling
Tagged With: finances, financial planning, how to save money, money, money advice, money saving tips, save money

About The Fashionable Housewife

Sarah-Jean Ballard is the Editor in Chief of The Fashionable Housewife blog and Founder of Fashionable Media. Married to a sexy Molecular Biologist, housewife, mom to 5, homeschooler, Certified Personal Nutritionist and entrepreneur who's mission is to help moms just like you look and feel GREAT! Other interests include dancing, yoga, positive intactivism, natural birth and breastfeeding support, babywearing, paleo & gluten-free cooking, and promoting an overall healthy lifestyle to all.

Disclaimer

The Fashionable Housewife is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for blogs and websites to earn advertising fees by advertising and linking to Amazon.com. We alsoย participateย in various other affiliate programs, and we sometimes get a commission on purchases made through our links. There is no extra cost to you! For more info, please see our Disclosure & Privacy Policy.

Previous Post: « How To Spruce Up Your Wardrobe With A Graphic T-shirt
Next Post: What Is It Like to Live in Clearwater Florida? »

Primary Sidebar

  • Email
  • Facebook
  • Instagram
  • Pinterest
  • Twitter
  • YouTube

Hello, there!

Sarah-Jean Ballard

Hi! Iโ€™m Sarah-Jean. Iโ€™m a Christian, the wife of a handsome Molecular Biologist, and the homeschooling mother of 5 beautiful kids!

I enjoy homesteading, reading, writing, cooking, baking, crafting, home decorating, Xtend Barre, and of course,ย fashion!

This blog is a place for me to share how we live and what I love most. Iโ€™m on a mission to help busy moms like you, be fashionable too!ย Read Moreโ€ฆ

Never miss a post


Use code FASHION10 to get 10% off your order at www.mapleandlark.com





Use our exclusive coupon code
LS-SARAHJEAN for $20 off your first order!


DHgate fashion dresses for sale

Use coupon code ‘FHW‘
to get 20% off your order!!!

Latest on Instagram

fashionablewife

๐’ฏ๐’ฝโ„ฏโ„ฑ๐’ถ๐“ˆ๐’ฝ๐’พโ„ด๐“ƒ๐’ถ๐’ท๐“โ„ฏโ„‹โ„ด๐“Š๐“ˆโ„ฏ๐“Œ๐’พ๐’ปโ„ฏ
โ€ขChristian, Wife, & Mama to 6 ๐Ÿ‘ฉ๐Ÿป๐Ÿง‘๐Ÿป๐Ÿง‘๐Ÿป๐Ÿง’๐Ÿผ๐Ÿ‘ฆ๐Ÿป๐Ÿ‘ผ๐Ÿป
โ€ขFashion, Food, Health, Fitness, Home & Loss
โœ‰๏ธ Email me, letโ€™s collab! ๐‘ซ๐’Š๐’”๐’„๐’๐’–๐’๐’•๐’”๐Ÿ‘‡๐Ÿป

๐•Š๐•’๐•ฃ๐•’๐•™ | Fashionable Homemaker & Large Family Life
Work from home? You need @flexispot_official The Work from home? You need @flexispot_official 

Their standing desk and exercise chair is a GAME CHANGER!! ๐Ÿ™Œ๐Ÿป๐Ÿ™Œ๐Ÿป

Whether you have a laptop or a desktop pc, being able to adjust your desk at the push of a button and stand for a while is absolutely essential to working long hours at a computer. 

This bicycle chair is designed specifically for this desk and a great way to keep your body moving. You could also use an under desk treadmill like @superun_fitness for even more flexibility! ๐Ÿ’ƒ๐Ÿผ

Just because you have to work at a desk all day doesnโ€™t mean you need to be out of shape. ๐Ÿ’ช๐Ÿป๐Ÿ‹๐Ÿผโ€โ™€๏ธ๐Ÿคธ๐Ÿปโ€โ™€๏ธ

Motherhood and working from home is hard. FLEXISPOT makes it easier. 

Check out my blog and search โ€œFLEXISPOTโ€ for more info!!

Comment and tell me how many hours a day you spend sitting! Be honest! ๐Ÿ‘‡๐Ÿป๐Ÿ‘‡๐Ÿป๐Ÿ‘‡๐Ÿป

#motherhood #motherhoodunplugged #workfromhome #athomeworkouts #athomefitness #fitmoms #fitmomsofig
If putting up your Christmas tree brings you joy, If putting up your Christmas tree brings you joy, go for it!! 

Our new @kingofchristmas 7.5' Queen Flockยฎ Artificial Christmas Tree is absolutely amazing! ๐Ÿ™Œ๐Ÿป๐Ÿ™Œ๐Ÿป

The kids couldnโ€™t be happier so I have no regrets putting our tree up before Thanksgiving. ๐Ÿ˜‚๐Ÿ’๐Ÿผโ€โ™€๏ธ

Follow my shop @fashionablewife on the @shop.LTK app to shop this post and get my exclusive app-only content!

#liketkit #LTKSeasonal #LTKHolidaySale #LTKHoliday #kingofchristmas 
@shop.ltk
https://liketk.it/4n9gW
Loving our new 5 bin storage unit for the playroom Loving our new 5 bin storage unit for the playroom from @guidecraft_official !!

The bins hold a surprising amount and I love how solid and sturdy this is. Perfect for organizing toys at kid eye level. Itโ€™s also great for seasonal home decor! ๐Ÿคญ๐Ÿ๐Ÿ‚

Whatโ€™s your favorite piece of furniture in your house?! 

Tell me in the comments! ๐Ÿ‘‡๐Ÿป๐Ÿ‘‡๐Ÿป๐Ÿ‘‡๐Ÿป

#homedecor #momlife #homeorganization #playroomorganization #playroomdecor #homedecorideas #fallhomedecor
An often-overlooked element to planning your perfe An often-overlooked element to planning your perfect hiking outfit is finding the perfectย minimalist backpack! 

You donโ€™t want to be weighed down by an oversized, clunky backpack that boasts all the bells and whistles but delivers nothing more than unnecessary muscle strain. You want a backpack that is minimal on the outside, functional on the inside, and sustainable all around. Waxed canvas is always a top choice for me!

Iโ€™m obsessed with this backpack from @hellodayowls ๐Ÿ˜

It has that perfect boho minimalist look that I love, in the perfect color for fall. This has become my go-to handbag for autumn. 

Perfect for all our outdoor adventures, hiking in the mountains, exploring the woods with my kids, and everything motherhood throws at me! ๐Ÿฅพ ๐Ÿง—๐Ÿผโ€โ™€๏ธ ๐ŸŒฒ 

Learn more about this bag on my blog ๐Ÿซถ๐Ÿป

#backpacking #outdoorfashion #wildandfreemama #mountainmama #motherhoodjourney #minimalfashion
I miss summer already ๐Ÿ˜ญ Take me back to a bett I miss summer already ๐Ÿ˜ญ

Take me back to a better place ๐Ÿ‘‰๐Ÿป summer time at @storylandnh !! ๐Ÿฅณ๐Ÿฅณ๐Ÿฅณ๐Ÿฅณ

Canโ€™t wait to go again next year! ๐Ÿ™Œ๐Ÿปโœจ๐Ÿคธ๐Ÿปโ€โ™€๏ธ

#summertime #familytime #familyadventures #motherhoodunplugged #childhoodunplugged
What they remember about their childhood is in you What they remember about their childhood is in your hands ๐Ÿซถ๐Ÿป

#motherhood #motherhoodrising #motherhoodunplugged #motherhoodthroughinstagram #motherhoodintheraw
This is what our homeschool looks like sometimes. This is what our homeschool looks like sometimes. ๐Ÿฅณ

Canโ€™t believe my oldest son is 13 and outside helping dad do home projects like building a new deck. ๐Ÿคฏ Seems like yesterday he was in his walker on this back deck and it looked a lot better ๐Ÿ˜‚

Thankful that @homedepot has great prices so we could finally afford to do this home reno project! ๐Ÿ’ช๐Ÿป๐ŸŽ‰

#motherhood #motherhoodunplugged #hereisourhomeschool #motherhoodthroughinstagram
My first born son turned 13 years old today. ๐Ÿ˜ฑ My first born son turned 13 years old today. ๐Ÿ˜ฑ

Somebody hold me. ๐Ÿ˜ญ

I asked him if he could stay 12 for one more year but he didnโ€™t like that idea. ๐Ÿ˜’ Was worth a shot, right? 

Scroll for the outtakes ๐Ÿ˜‚๐Ÿ˜‚๐Ÿ˜‚

This kid blows me away daily and makes me so proud to be his mom. I donโ€™t have enough words to describe how much I love this child. ๐Ÿ˜ญ

Drop a comment and wish this boy a happy birthday! ๐ŸŽ‰๐ŸŽ‚ 

#homeschoollife #homeschoolfamily #momlife #momlifeunfiltered #momlifeunplugged
Being a mom is hard. Being a mom and trying to sta Being a mom is hard. Being a mom and trying to stay healthy and fit is harder. ๐Ÿ‹๐Ÿผโ€โ™€๏ธ๐Ÿฅต

Luckily, there are holistic wellness products that can help make the motherhood journey easier!

Lost Empire Herbs stands out as a remarkable family venture led by three health-conscious brothers who share a profound dedication to a wholesome, active lifestyle. 

Their journey began with a modest kitchen table and the introduction of pine pollen, but it has since evolved into something truly remarkable, exceeding all expectations.๐Ÿ˜ฑ

What truly sets Lost Empire Herbs apart is their extensive collective knowledge, derived from years of hands-on experience, unwavering commitment, and a willingness to explore new horizons. Driven by a genuine desire to enhance lives, they made a resolute decision to make the benefits of these exceptional herbs accessible to a wider audience. 

Their primary focus revolves around offering hormonal support, a vital consideration given the prevalence of endocrine-disrupting compounds in today's world, although their scope extends beyond this singular realm. ๐ŸŒฑ 

I'm genuinely enthused about the prospect of trying out their products, eagerly anticipating the chance to personally experience the transformative effects of these wellness herbs. The brothers' evident passion and expertise have left me intrigued and eager to embark on a journey towards total wellness, guided by the offerings of Lost Empire Herbs.

@lostempireherbs #lostempireherbs #holistichealth #holistichealing #holisticwellness #holisticlifestyle #motherhoodunplugged #motherhoodjourney #motherhoodthroughinstagram #unleashthepowerofnature #rootingforyourhealth #hormonehealth @apexdropofficial

Footer

coffee

Each product we feature on The Fashionable Housewife has been independently selected and reviewed by our editorial team. If you make a purchase through the links in our posts, we may earn a small commission at no extra cost to you. Thank you for supporting us!

Work from home? You need @flexispot_official The Work from home? You need @flexispot_official 

Their standing desk and exercise chair is a GAME CHANGER!! ๐Ÿ™Œ๐Ÿป๐Ÿ™Œ๐Ÿป

Whether you have a laptop or a desktop pc, being able to adjust your desk at the push of a button and stand for a while is absolutely essential to working long hours at a computer. 

This bicycle chair is designed specifically for this desk and a great way to keep your body moving. You could also use an under desk treadmill like @superun_fitness for even more flexibility! ๐Ÿ’ƒ๐Ÿผ

Just because you have to work at a desk all day doesnโ€™t mean you need to be out of shape. ๐Ÿ’ช๐Ÿป๐Ÿ‹๐Ÿผโ€โ™€๏ธ๐Ÿคธ๐Ÿปโ€โ™€๏ธ

Motherhood and working from home is hard. FLEXISPOT makes it easier. 

Check out my blog and search โ€œFLEXISPOTโ€ for more info!!

Comment and tell me how many hours a day you spend sitting! Be honest! ๐Ÿ‘‡๐Ÿป๐Ÿ‘‡๐Ÿป๐Ÿ‘‡๐Ÿป

#motherhood #motherhoodunplugged #workfromhome #athomeworkouts #athomefitness #fitmoms #fitmomsofig
If putting up your Christmas tree brings you joy, If putting up your Christmas tree brings you joy, go for it!! 

Our new @kingofchristmas 7.5' Queen Flockยฎ Artificial Christmas Tree is absolutely amazing! ๐Ÿ™Œ๐Ÿป๐Ÿ™Œ๐Ÿป

The kids couldnโ€™t be happier so I have no regrets putting our tree up before Thanksgiving. ๐Ÿ˜‚๐Ÿ’๐Ÿผโ€โ™€๏ธ

Follow my shop @fashionablewife on the @shop.LTK app to shop this post and get my exclusive app-only content!

#liketkit #LTKSeasonal #LTKHolidaySale #LTKHoliday #kingofchristmas 
@shop.ltk
https://liketk.it/4n9gW
Loving our new 5 bin storage unit for the playroom Loving our new 5 bin storage unit for the playroom from @guidecraft_official !!

The bins hold a surprising amount and I love how solid and sturdy this is. Perfect for organizing toys at kid eye level. Itโ€™s also great for seasonal home decor! ๐Ÿคญ๐Ÿ๐Ÿ‚

Whatโ€™s your favorite piece of furniture in your house?! 

Tell me in the comments! ๐Ÿ‘‡๐Ÿป๐Ÿ‘‡๐Ÿป๐Ÿ‘‡๐Ÿป

#homedecor #momlife #homeorganization #playroomorganization #playroomdecor #homedecorideas #fallhomedecor
An often-overlooked element to planning your perfe An often-overlooked element to planning your perfect hiking outfit is finding the perfectย minimalist backpack! 

You donโ€™t want to be weighed down by an oversized, clunky backpack that boasts all the bells and whistles but delivers nothing more than unnecessary muscle strain. You want a backpack that is minimal on the outside, functional on the inside, and sustainable all around. Waxed canvas is always a top choice for me!

Iโ€™m obsessed with this backpack from @hellodayowls ๐Ÿ˜

It has that perfect boho minimalist look that I love, in the perfect color for fall. This has become my go-to handbag for autumn. 

Perfect for all our outdoor adventures, hiking in the mountains, exploring the woods with my kids, and everything motherhood throws at me! ๐Ÿฅพ ๐Ÿง—๐Ÿผโ€โ™€๏ธ ๐ŸŒฒ 

Learn more about this bag on my blog ๐Ÿซถ๐Ÿป

#backpacking #outdoorfashion #wildandfreemama #mountainmama #motherhoodjourney #minimalfashion
I miss summer already ๐Ÿ˜ญ Take me back to a bett I miss summer already ๐Ÿ˜ญ

Take me back to a better place ๐Ÿ‘‰๐Ÿป summer time at @storylandnh !! ๐Ÿฅณ๐Ÿฅณ๐Ÿฅณ๐Ÿฅณ

Canโ€™t wait to go again next year! ๐Ÿ™Œ๐Ÿปโœจ๐Ÿคธ๐Ÿปโ€โ™€๏ธ

#summertime #familytime #familyadventures #motherhoodunplugged #childhoodunplugged
What they remember about their childhood is in you What they remember about their childhood is in your hands ๐Ÿซถ๐Ÿป

#motherhood #motherhoodrising #motherhoodunplugged #motherhoodthroughinstagram #motherhoodintheraw
This is what our homeschool looks like sometimes. This is what our homeschool looks like sometimes. ๐Ÿฅณ

Canโ€™t believe my oldest son is 13 and outside helping dad do home projects like building a new deck. ๐Ÿคฏ Seems like yesterday he was in his walker on this back deck and it looked a lot better ๐Ÿ˜‚

Thankful that @homedepot has great prices so we could finally afford to do this home reno project! ๐Ÿ’ช๐Ÿป๐ŸŽ‰

#motherhood #motherhoodunplugged #hereisourhomeschool #motherhoodthroughinstagram
  • Home
  • Meet Sarah
  • Contact Us
  • Disclosures & Privacy Policy

[Est 2005] Copyright © 2023 Sarah-Jean Ballard and Fashionable Media | Beloved Theme

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish.Accept Reject Read More
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT
0 shares