What are some ways by which parents can teach children the importance of saving?

Team ParentCircle · 2021-04-01T15:27:33+08:00

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Anonymous

TaruMoney Apr 21, 2026

A few things that actually work:

Let them save for something they want. Not what you think they should want. When a kid is saving for a specific toy, they'll turn down ice cream without you saying a word.

Match whatever they save. "You put in ₹50, I'll add ₹50." It teaches them that saving gets rewarded — which, honestly, is how the real world works too.

Let them make one bad spend. Bought something cheap that broke in a day? That frustration teaches more than any lecture ever could.

Talk about money at the dinner table — not in a scary way, just normally. "We're skipping the restaurant this week so we can save for our trip." Kids absorb more than we think.

The goal isn't to raise a miser. It's to raise a kid who feels the difference between spending and saving — before the real world teaches them the hard way.

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Dharani saravanan Apr 5, 2021

Saving money is a habit that we parents can teach our children right from young age.. To begin the habit of saving , give them a piggy bank and ask them to fill it with coins by saving the money... ask them to set a goal , that can be a good motivation for them... help them reach the goal and reward them with surprises.. show them how the saved money can be helpful at the time is need... once children are at the age where they can understand better ,we can discuss about our earning, how we spend it and we save it... this helps them learn from us.. we can also open a saving minor bank account for them and make them save money in it... it helps them save money and also makes them understand that it is an investment when they get interest from that money... set a timeline for them to save the money , it will encourage them to reach the goal on time and know the value of saving money.. it will always be a trial and error method when v teach kids how to save money , but it will be an experience for them for their future...

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Jisha Varghese Apr 4, 2021

Give your kids one rupee per day for their supportive deeds.By month end ask them to buy a thing that they would love if parents had presented them.Take them out for shopping and let them know the prices.They will know to manage finances shortly.

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Saju Johnson Apr 3, 2021

Give them small perks in form of cash whenever they do something good.Ask them to set a goal to own a commodity that would be useful for them.Advice them to pool money from these perks and buy it.

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Meenakshi Apr 3, 2021

As parents we can give some nominal amount as pocket money and encourage them to save and the child can buy (books or basic stationery items, etc.) they want from it.

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