Saving money is one of those life skills that I think every parent hopes to pass on to their kids. For me, it’s not just about the dollars and cents—it’s about teaching them responsibility, patience, and the ability to make thoughtful decisions. But let’s be honest: talking to kids about saving money can feel like trying to explain why they can’t have ice cream for dinner. It’s not always easy, but it’s definitely worth it.
When I first started discussing saving money with my kids, I quickly realized that the concept of “saving” can feel a bit abstract to young minds. They live in the moment—what’s the fun in putting away their birthday money instead of buying that new toy they’ve been eyeing? This is why I knew I had to make saving relatable and, well, fun.
The first thing I did was introduce the idea of goals. I asked my kids what they really wanted, something that felt big to them. One of my kids wanted a fancy remote-control car, while the other had her eye on a new pair of roller skates. These became their saving goals. Instead of framing it as “you can’t spend your money,” I framed it as “you’re working toward something you really want.” Once they had a clear goal in mind, saving started to make sense.
To make the process visual, I gave each of them a clear jar to use as their “savings bank.” Why a jar instead of a piggy bank? Because they could see the money piling up! There’s something satisfying about watching those coins and dollar bills grow over time. It made the act of saving feel real and tangible. Every time they added more money, they’d excitedly show me how the jar was filling up. It became a little celebration every time they were closer to their goal.
I also wanted to teach them the value of earning money, not just saving it. So, we got creative with chores and small tasks they could do to earn extra cash. My son started helping me wash the car, and my daughter created little cards she could sell to family members. It gave them a sense of pride knowing they were working toward their goals, and it made the money they earned feel more meaningful.
Of course, I also had to teach them about spending wisely. We talked about how not every purchase is worth it and how sometimes it’s better to wait. One of my favorite moments was when my son almost spent all his money on a cheap toy, but after thinking it over, he decided to save it for the car he really wanted. That was a proud parent moment for sure!
But it’s not just about the practical lessons—it’s also about showing them how saving can lead to freedom and opportunities. I shared stories from my own life, like how saving a little each month allowed me to take a family trip or cover an unexpected expense without stress. I wanted them to understand that saving isn’t about deprivation, it’s about creating choices for yourself.
Now, I’m not saying my kids are perfect savers. There’s still the occasional meltdown over wanting to spend their money immediately. But I’ve seen them start to think more critically about their choices, and that’s a win in my book.
Talking to your kids about saving money doesn’t have to be boring or overly formal. Make it relatable, set goals, and celebrate their progress. Trust me, those small lessons you teach now will stick with them for life—and who knows, they might even become better savers than you!
