Monday, 18 November, 2019

How to instill saving habits in children?


Inculcating savings habits in children guarantees us the formation of citizens with greater capacity to face the challenges of their adult life.

In this article we discuss this important issue, pointing out the strategies that as a father or mother, you can use for this purpose. This activity reinforces the relationship between saving and achieving the established goals.

Savings education in children should cover the following edges:

Need versus desire

Need versus desire

What are we not willing to do to please our children? But it is important for your well-being as adults, that we help you identify the difference between the products you need and those you want.

Understanding the difference between need and desire, they will learn to value things much more. And it will be easier in your adult life, to distinguish productive expenses from fruitless ones.

Programmed savings at home

Programmed savings at home

Without a doubt, the best way children learn is by example, so why not take advantage of this? Give your children a piggy bank, and encourage savings on it for a specific purpose.

Together set a goal: a toy, the entrance to the site that you like or any wish you have. This activity reinforces the relationship between saving and achieving the established goals.

Child savings account

Child savings account

Aware of the need to promote savings from an early age, some financial institutions offer suitable products for this purpose. Just imagine the excitement that will wake up in your children accompany you to the bank, and present your savings account book at the box office. Without a doubt, this is one of the best strategies to develop saving habits in children.

Among the available options are:

  • Children’s Deposit, Caja Cusco . For children from 0 to 17 years with their father, mother or guardian.
  • Kids account, from Scotiabank . For children from 0 to 17 years old with their father, mother or guardian.