Saving and Helping your kids to understand money and its value.

This post was underwritten by BMO Harris Bank, which offers a matching $25 on a new savings account opened for your child through their Helpful Steps for Parents program. Learn more at

Saving and Helping your kids to understand money and its value

Let’s be honest, money is tough subject these days.
Especially when so many homes are down to one income.
Ours being one of those.

I do really well for a while on saving, couponing, budgeting, ect.

then I go through my pinterest boards and it’s like BAM
money vomit at Joann’s, Micheal’s, Hobby Lobby, and Goodwill.

Then next comes the talking to from the hubby, about my careless spending….

Today I want to share a few ways to teach your children to value money,
in hopes I will learn to stop spending so much again!
Learning how to be financially responsible will enable your children to have a lifetime of good financial health.

Before You Start:

  • Speak with your spouse or partner first so that you’ll both be on the same page when it’s time to talk to the kids about financial priorities.
  • Put yourself in your children’s shoes. Try to remember what your top financial concerns and priorities were at that age.
  • Next, ask them about their thoughts on money. It’ll show you’re interested in their opinion and make financial conversations more productive.

Now the Money talks can begin:

  • As soon as children can count, introduce them to money
  • Help children learn the differences between needs, wants, and wishes. This will prepare them for making good spending decisions in the future.
  • Setting goals is fundamental to learning the value of money and saving.Use regular shopping trips as opportunities to teach children the value of money.
  • Lead by example,  it goes without saying that children will learn from and pick up on your money habits.
  • Teach your children about borrowing by using examples from everyday life,example:talk to your children about the mortgage
  • Children need to learn about charity
  • Children also should learn to save money on their own
  • Teach them how your money can make money
  • When giving children an allowance or income, give the money in denominations that encourages saving. For example if the amount is $5, give out five $1 bills and encourage at least one be set aside in savings. (Just saving $5 a-week at six percent interest compounded quarterly will total about $266 in a-year, $1,503 in five years and $3,527 in ten years.) 
  • Whether it’s by babysitting, selling items online or a putting up a good old-fashioned lemonade stand, it’s important to encourage kids to find creative ways to earn money

Be sure to talk to you kids about the importance of money and it’s value
What about you? any tips you can share, for kids (or me!)
I struggle with compulsive spending do you?

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I was selected for this sponsorship by the Clever Girls Collective. To learn more about BMO Harris Bank, visit their website

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About Chrissy@thePEARLblog

Sinner turned saint. Lover of Jesus. DIY crafter. Mom of 3. Blogger. Friend. married to her high school sweetheart. I blogs to share about the things I love. My hope is that my love for crafting, Jesus, family, and food will inspire you to try something new. If you enjoy what you read, don’t forget to subscribe to my blog!

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