How to teach a child to save?

[koleusdat]

Today I saw in the store how a child begged for chocolate, I don't know what is better when children have the opportunity or it is limited. Therefore, if you live well, then your children should live as well.

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[1715210041]

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[Qiubell5]

what little kids know is just eating and playing 😁. their minds are still very free. But, teaching them to save is a good thing.
Maybe this can help you,


https://hellosehat.com/parenting/anak-1-sampai-5-tahun/perkembangan-balita/7-cara-ajarkan-anak-menabung/

[Ucy]

They should simply be taught to use the money for things that benefit society/others and themselves. When it comes to spending on themselves, they should spend more on good things they need rather than what they don't need.

You could also teach them to gradually grow whatever amount/gift they recieve by investing them in profitable businesses they don't necessarily have to be involved in.

[Hydee06]

Easy way to me just to let him no that what you save today is what you are going to spend tomorrow. Always have a day to save your earning.

[durop77]

It's your nephew, not your child and his parents willing to give $100 to his child, it's none of your business

If you have a child, I feel bad with him because he can't enjoy what he want. It's really normal for a child to spend money without think about it since 8 years old kid still not have to learn about saving. Let him enjoy and use his money, maybe when he's already reach 12 years old, you can teach about good and bad things.

I spend a lot of time with him, and I know how parents try to work seven days a week so that he has everything. But he does not understand that it is necessary to take care of, for example, a tablet that he has broken several times, and it is even very expensive to understand the screen. His parents want him to feel comfortable on the street and be able to buy anything whenever he wants, but how justified is it from an early age to spend meaningfully on everything. He goes to school, they should also be told there that money does not come from heaven.

[durop77]

A good measure is to buy them a piggy bank, as well as explaining to them the importance of saving. Although I don't see much of a future for piggy banks due to the trend towards digitalisation of payments, but the child uses cash, so it could be useful for him.

From my country conversion rate that is about 74,400 Naira and is much to give for a 8 years old baby. It's an abuse of money...

It is not an abuse. You don't know where the child lives or the financial situation of the parents. The OP speaks in $, so if they live in the US, maybe their parents' household income is $100,000 or more, so it is not unusual in their environment for children to be given similar amounts. This would also explain why children do not worry about saving if they live in an environment of abundance.

Piggy banks used to somehow stimulate children not to squander money, but to save money in order to buy something good for themselves later. Now they have lost their popularity, I wonder who has them at all at a young age. By the way, I have a piggy bank, although there are only coins there. I put the change from buying coffee there without even thinking)

[peter0425]

My 8-year-old nephew spends a lot of pocket money, spends irrationally, for example, the other day he bought ice cream that cost $ 10, moreover, I told him that perhaps the taste was not the same for the beautiful packaging, which he spat on and bought, as a result I finished eating. They give him 100 dollars for a week, and of course he does not know where the money comes from and how, he has already gotten used to living from childhood spending on nonsense. How to teach children economic literacy?

its your nephew so why do you care if the parents isn't?

sometimes we are crossing the boundaries just to make our own problem , if the parents are capable of giving the child and if they wanted their children learn their ways so who are you to hinder them?

not unless the parent is asking you to help them then go your way, and besides seriously ? they are giving 100 dollars a week? then they must be rich then and capable of spending that much?

[kotajikikox]

My 8-year-old nephew spends a lot of pocket money, spends irrationally, for example, the other day he bought ice cream that cost $ 10, moreover, I told him that perhaps the taste was not the same for the beautiful packaging, which he spat on and bought, as a result I finished eating. They give him 100 dollars for a week, and of course he does not know where the money comes from and how, he has already gotten used to living from childhood spending on nonsense. How to teach children economic literacy?

be a good example mate, you must show tehm how important money is and how this will make his life problematic in the future.
i don't let my children has money if now necessary because i know that will not know how to handle this correctly.

[btc78]

My 8-year-old nephew spends a lot of pocket money, spends irrationally, for example, the other day he bought ice cream that cost $ 10, moreover, I told him that perhaps the taste was not the same for the beautiful packaging, which he spat on and bought, as a result I finished eating. They give him 100 dollars for a week, and of course he does not know where the money comes from and how, he has already gotten used to living from childhood spending on nonsense. How to teach children economic literacy?

its your nephew so why do you care if the parents isn't?

sometimes we are crossing the boundaries just to make our own problem , if the parents are capable of giving the child and if they wanted their children learn their ways so who are you to hinder them?

i agree even if we think our life values and beliefs are ‘better’ than other people’s, if this does not harm us in any way why should we interfere with other people’s way of living? i guess as a family member, op feels partially responsible since maybe they just don’t want their family to live like that or let their family be perceived by other people in a bad way

it’s very common for extended family members to have opinions about how their other family members teach their children but it’s something we should try to avoid different does not mean bad

[boyptc]

Wow, that kid is living the life and maybe his parents have that tough life before and they are doing that to see the better life with their kid.

Well, first don't meddle with other affairs so that you won't get scolded by the parents. Whether you're brothers or sisters to them, just talk to the parents and not to the kid.

Because whatever you give to the kid, they won't mind spending that to all the things they want. The discipline must come from the parents so talk to them.

[Natsuu]

Show your niece the ropes by being a good example. Share how you spend, save and budget in your own life. Children usually follow what they see from the adults right? Take him along for everyday money stuff, like grocery shopping and explain your choices. Keep it open and stress why making smart money moves is key, including saving up for what's ahead. Slowly you’ll see that theyll appreciate saving money too.

[rodskee]

A good measure is to buy them a piggy bank, as well as explaining to them the importance of saving. Although I don't see much of a future for piggy banks due to the trend towards digitalisation of payments, but the child uses cash, so it could be useful for him.

From my country conversion rate that is about 74,400 Naira and is much to give for a 8 years old baby. It's an abuse of money...

It is not an abuse. You don't know where the child lives or the financial situation of the parents. The OP speaks in $, so if they live in the US, maybe their parents' household income is $100,000 or more, so it is not unusual in their environment for children to be given similar amounts. This would also explain why children do not worry about saving if they live in an environment of abundance.

Piggy banks used to somehow stimulate children not to squander money, but to save money in order to buy something good for themselves later. Now they have lost their popularity, I wonder who has them at all at a young age. By the way, I have a piggy bank, although there are only coins there. I put the change from buying coffee there without even thinking)

I also have this attitude , that all of the coins i have in pocket when i got Home
will just put them all in a Display Jar and not counting them Until it is full , for how many years
that I have this , at least once every 2 years that it turns full and when I count them to bring
in Banks to exchange for paper bills? it contains 300-400 dollars depending in coins that i have
each day , not bad for the not counting funds.

and about your Niece? maybe better to talk to their parents mate , so you and
the parents will have a constant communication to help the young one, I believe that this kid
is closer to you.

[maisie53]

An eternal problem for parents, everything depends on upbringing, this thorny path is completely reflected in the child, any actions affect how he behaves. If parents are spenders and do not know how to save, then their children will behave in the same way in any case. There are many tips on how to raise a child without letting him get spoiled. Talk to him often about how difficult it is to get this money if you are having financial difficulties.

[johnsaributua]

Maybe your nephew is used to a luxurious style, the freedom and facilities provided are so sufficient and spare, I was at the age of 8 years old maybe my daily pocket money was only 1-2$ that was already included for lunch to school, although it is different in terms of exchange rate but not too far because this is a comparison with food that is not cheap, is he used to it? or are there other expenses besides the ice cream?

For me, saving money directly is easy especially getting daily money, give an understanding of the dreams he wants to achieve, the role of parents around is also very influential to educate his mentality and character building.

including the environment will bring the atmosphere, there is nothing wrong with starting to reflect new things so that the child adapts to his own, inferring the environment treats money well, I think there are children who can learn to infer by what they see if they continue with simple words they will be curious.

[kotajikikox]

An eternal problem for parents, everything depends on upbringing, this thorny path is completely reflected in the child, any actions affect how he behaves.

or the environment that teaches them what to become , the parents are at work so the sorounding will teach them how.

If parents are spenders and do not know how to save, then their children will behave in the same way in any case.

correct that is the problem if the parents are spending so much in front of their kids because they will surely learn how to act the same.

There are many tips on how to raise a child without letting him get spoiled. Talk to him often about how difficult it is to get this money if you are having financial difficulties.

and do not elt them have money on hand , let them work for it either from school or house chores .

[Captain50]

We must teach our children how to move forward with their lives, how to earn what they have in life and how to save it for their future.  We must teach them from childhood that they must make their own future.