Saving money can be very rewarding for your tween but keeping it fun can take a little imagination. For some just watching the coins and bills add up in a mason jar can be enough of an incentive but what about the tweens that get easily discouraged? Poor pressure can be really rough at this age and keeping them on track with their savings can be a little tricky.
We as parents are here to help them learn tricks and tips on making and saving money. Sometimes it’s hard to figure out as parents how to keep them motivated. Here are some awesome ideas on making saving fun for your tween.
Set a good example- Let your tween hear you talking about saving money. Talk about what you are saving for and visually show them how your account is growing. Let them hear the excitement in your voice!! Kids learn by example and will pick up on your excitement and follow in your footsteps.
Make a Savings Chart-Do you remember those charts that look like a thermometer and as the goal gets met they color inside the thermometer in red? Take the same concept and turn it into a savings chart for your tween. It’s always nice to have a visual of saving money while trying to reach a goal. Have your child color it in every Friday and watch the savings add up!
Use the Envelope/Jar system- For short term and long term goals it’s nice to have a system. Some use jars but I find that an envelope system works best in our household. Have an envelope for each goal your child is trying to reach. Try to make sure there are short term and long term goals included. Label each envelope for the goal your child is trying to reach. Some ideas include a fast food trip, a night out at the movies, or a favorite game or book. Put the total goal amount your child is trying to reach on the outside of the envelope. As they add money to the envelope reflect the savings on the envelope so they can tell how much more they need to save to reach their goal.
Savings Match- Your job rewards you for saving in your savings program at work. Why not try matching your child’s contributions when they are saving? Trust me in saying that your child will LOVE this idea.
How do you make saving fun with your tween at your house?? Leave a comment and share all your tips with us. I would love to here from you.