Investing in your child’s future – teaching them good spending habits | AD

*This is a collaborative guest post

Investing in your child’s future doesn’t just mean putting away cash for them to enjoy and utilise when they turn 18, it also means teaching them good spending habits and the importance of saving not just for a rainy day, but for their futures and for their own children too!

At school, we’re taught the value of coins and how to count them, but not how to spend wisely or save cleverly. So much so, that when we hit adulthood, many of us have to learn as we go, making several mistakes along the way.

Many parents and relatives take the sensible step of opening bank and saving accounts for their children and even investing in gold bars from Golden Eagle Coin and stocks and shares. But what can you do to help you child gain a good understanding of saving, now? Well, read on for some helpful ideas and a little inspiration.

Start with the obvious

You don’t have to confuse, bamboozle or bore your child with the ins and outs of savings accounts, taxable income or interest. Just make the idea of saving simple and fun. Start by getting your child a piggy bank. Something bright and colourful so every time they get some money, whether it’s as a gift of a few coins they found down the side of the sofa, they can enjoy filling up their piggy bank with it. Make sure they know that the challenge is to fill it up until it’s totally full and not to empty it until then. Once it’s full – go to the next step below!

A Bank Account

Yes. There’s nothing duller for a child then a bank. They’re such serious places, aren’t they? But, once that piggy bank is full, have them bring it along and open up a savings account with what’s inside. This way, they can truly understand the value of what they’ve been saving – they’ll probably get a free gift from the bank too. How exciting!

Saving jars

A bit like a piggy bank, but this has a more visual interpretation. Say your little one has their eye on a new toy, or game and they’re utterly desperate for it. You can tell them that they can have it, but they have to save for it themselves. Give them a jar to use to specifically save up for their purchase. If they have their eye on more than one thing, then give them another jar! They can then decide how to distribute their pocket money or commissions and watch the target get closer and closer. Try putting a picture of their goal on the jar so that they have a visual of what it is they’re saving for!


Instead of giving your child pocket money, why not give them commissions for helping out at home? Allowing them to do chores that ae relevant for their age range will help them to understand that in order to get what they want, they’ll have to work hard to achieve it.

Investing in your child’s future – teaching them good spending habits

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