It is possible to teach your preschooler to save. Everything is so much more fun at a preschool age, and I wish that carried on threw life. A savings plan is something that can carry on through life if taught and practiced at a young age.
Using play in the training will help them to WANT to try and save.
Growing up my dad taught me to save. I don’t even know how old I was, but I was saving money. My birthday and Christmas money all went into my savings account. As an adult, I don’t regret him making that a priority. We carry little to no debt and save money first. Being financially free is something that my husband and I both agree on in our marriage.
Making the idea fun and not a chore will be important.
Buy Them a Special Savings Bank
Picking out a special savings with one of their favorite characters is going to make them want to put money into it. If they know that each time the money goes into a “special bank” that will make earning it fun.
As a mom of four boys, I know they love to have their wallets and put their chore money in it. They used to save in the Mickey Mouse bank, but soon learned that dollars add up quicker. The Mickey Mouse bank belongs to the four-year-old now. At four, change is still cool.
Let Them Have Three Age Appropriate Chores
Choose three easy chores they can do around the house. Put together a play kit they can use to help clean or dust if that is on the chore list.
Chores like dust the window, help mommy with dishes, and put dirty clothes in the basket would be easy for them. Make a chart for them to track their progress each week.
Adding checkmarks or stickers will help them save to the goal.
Help Them Choose What To Save For
A savings account is not visual for a preschooler. Choosing a toy, mission, church offering, or gift will help them to have something tangible. Preschoolers have to see what they saved for so they will be excited to start a savings account. As they get older and progress they can lose the chart for a savings register.
The savings process has to be something consistent, not hit or miss. they will start to develop a consistency from us. As parents we model the behavior for the child. Consistency and discipline will be learned from us.
Beginning the process may seem like another chore, but it will pay off when you have raised a financially responsible adult.
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