19 Ways to Teach Kids How to Save Money Responsibly at Any Age

“Teaching our kids to save sounds so obvious, yet if we looked in the mirror so many of us are guilty of not being able to save ourselves. One of the best ways to teach your kids is simply to set a good example. Parents who perpetually live in debt raise the risk of having kids who are comfortable with that lifestyle.”
Teaching Kids Save Money

According to a MarketWatch report, children between the ages of 4 and 14 received an average annual allowance of $471 in 2018. That’s about $9 per week, which isn’t a bad take for kids too young to join the workforce.

The report, on a study by chore-tracking app RoosterMoney, had even better news: Nearly half (42%) of children who receive an allowance save some of it. Although kids clearly don’t have the same financial obligations as their parents, that nevertheless bodes well for the next generation’s financial fitness…

 

Read more: https://www.moneycrashers.com/teaching-kids-save-money/

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