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How to save for school children can be taught from an early age by parents. This is important to home skills and teach them not to waste money so they can be more self-sufficient and grateful.
The money saved can later be used by children to buy the desired items or other needs. To start teaching school children how to save, here is an explanation that you can refer to.
How to save for school children
How to save quickly for school children is not a difficult thing to do. So that children are diligent in saving, parents must be a good example by doing the same. You can fill a piggy bank at home or take your child to the bank.
In addition, here are a number of ways to save for school children that you can try.
1. Define goals and plans
If your child is starting to become interested in saving, you can help determine their goals first.
For example, if your child wants to buy a new bike for Rs 1,00,000, help him figure out how long it will take to get there based on the money he regularly saves.
Thus, your little one can be more enthusiastic about saving and not be tempted to use the money for other things.
To make your child more motivated, you can put a picture of the item he wants to buy next to his piggy bank. By setting goals and planning, how to save 1 million per month for school children is not impossible.
2. Use an attractive piggy bank
You can give an interesting piggy bank for a child. However, there's nothing wrong with letting your child choose a piggy bank he likes or making one from an old can.
Transparent piggy banks can make it easier for children to see the contents of their increasing savings. As a result, he was even more excited to add to the contents of the piggy bank.
3. Set aside pocket money to save
How to save for school children can be done by setting aside pocket money. For example, if your child is given an allowance of Rs 1,000 you can advise your child to save around 400-1000rs.
In addition, half of the THR money or red packets that the child gets from the family can also be saved. Even if you only set aside a little money, over time the money you save regularly will increase.
4. Save the change
The next way to save quickly for school children is to collect change. Teach children not to underestimate the nominal money of Rs. 100, Rs. 500, Rs. 1,000, Rs. 2,000, or others.
Instead, put the change in a piggy bank. Without realizing this way of saving school children will make the money saved even more.
5. Saving to the bank
If the child is old, there is nothing wrong with inviting the child to save in the bank to make it more secure. This way of saving school children can make children feel happy because they are doing activities that are usually only done by adults.
In addition, taking the money saved in the bank is also not as easy as taking money from a piggy bank. So, this method allows children not to take it carelessly.
6. understand the proper needs and wants
Sometimes, children may feel like they can't stand to use their savings, for example for snacks. Even though the money saved has not been collected enough to achieve its goals.
If the child is old enough, teach the child about the differences between needs and wants. This will help him learn to refrain from anything less important.
7. Sometimes help fill children's savings
Parents can occasionally participate in filling a child's piggy bank as a gift because he has achievements or is diligent in saving. You can enter the amount of money that will be given with the amount of money usually saved by the child.
This method of saving for school children quickly needs to be taught appropriately and adjusted to the child's age. Make this learning opportunity to save a fun habit. Avoid forcing him let alone to behave rudely.
The Importance of saving early
It is important for parents to teach how to save for school children so that they can appreciate money and learn to restrain themselves. There are several reasons it is important to save early, namely:
- Teach children to put more effort into getting what they want
- Make children more disciplined
- Teach children to plan and set goals
- Make children more independent
- Helping children differentiate between wants and needs
- Sharpen your child's delayed gratification skills
- Teach children to be frugal and not to waste money.
Sometimes, people question how to save up a lot for school children quickly. However, the most important thing is the child's routine in saving. Although a little by little, the child's savings will definitely increase if he saves regularly.