This way, the youngest will learn the importance of saving.
The time to start talking about money with children around 5 or 6 years, when they realize that money has a usefulness. A usual way to show them that if they save can get something is to give them occasionally a small penny to keep it (coming from the laps of shopping in shops or restaurants ...) in order to finally see that when they accumulate A few can buy something. These coins will be counted slowly and they themselves will decide what they can use ... leaving the door open so that if they wait a little longer if they save a little more, they can get something better.
What does it mean to "become saver?
- Be able to give value to what they have and the limits of expenses.
- Learn the meaning of money and the responsibility of managing it through daily activities
- Become aware that the money ends and is not unlimited
- Realize the value and the price of things
- Know the value of each thing, not only of toys but also of the accounts of the consumption of light, water, gas, food ...
- Teach to value money in the long term (piggy bank, periodic payment ...)
- Teach them to differentiate a whim from a real need
THE HUCHA:
Long before there were savings accounts in banks, and with the idea of saving coins for later use, children and not so children have used a closed vessel, traditionally made of clay, with a single slit in the upper part. where coins are thrown; we are referring to the piggy bankor piggy bank, which generally has the shape of a piglet and which is still the image of saving for children, which reminds them that if they now "renounce" to immediately enjoy what their money can report to them in the future, they may have something much better than they want For them, that "sacrifice" of today will have a reward in the future, but yes, they will have to be very clear about their decision since they will have to break the pig to take out the coins and use them for the purpose they have decided.
These piggy banks can be made of different materials (metal, plastic, porcelain ...) and have very different forms, (houses, simple boats, animals), and there are even some with a nice mechanism that introduces the coin in its background simulating in a funny way, for example, that a hippopotamus eats the coin or that a little train takes it to the bottom of a tunnel. In these cases it is not usually necessary to break them to take out the money saved, even the simplest plastic money boxes and other materials today incorporate a wheel or cap that can be removed to extract the coins. However, the underlying idea is the same, that is, the concept of savings for future enjoyment or investment or spending;
"Piggy Bank is a Classic"
The reason for this custom is that the pig is a symbol of abundance and prosperity, because it can be used in full.
For quite some time the poorest families in Europe reserved a pig to sell it if they were in need. This fact amounted to "save"; hence, the first moneyboxes took on the shape of this animal as a symbol of savings.
- THE PAYMENT:
Giving a small payment to children can be a useful tool for learning to manage money, the amount should be determined according to the expenses that the parents estimate that the child will have. The payment can be given by linking it to some special task that you do at home and/or as a gift, it must be taken into account that there are tasks within the home that are subject to your responsibility as a family member.
If the parents ask us we can tell them that the payment can be oriented in different ways. One part for your whims, another for the contributions in which the child participates (a gift for the grandmother or for the cousin when his birthday arrives), and the last part to save and get that toy that you want so much. They can use sachets to distribute it.
On many occasions the child's friends will exert pressure to make him feel like having certain toys , sometimes parents can buy them, sometimes not. The shortage of money, the fact of being a toy not recommended, the need to set limits ... whatever the reason, always the child must know the real reasons for the denial of their purchase. If it is a lack of money, it is convenient that you know that this money is needed for other things (to buy food, pay the bills ...). However you can satisfy your desire with effort and responsibility, the parents will suggest you save, they will give you the opportunity to do extra simple tasks to increase your savings, they will lend you a part of the money...
Tips to learn how to save
Since saving is not only grouping coins, but also spending less , we will insist on the need to turn off the tap when we brush our teeth (to save water) or close the light switch when we leave the room (to save money). electricity bill). You can explain to them that both water and light cost money and that not spending more than necessary, you save to have money for other things.
Tell them that they have opened a savings book in which each month a small amount is entered so that when they are older they can take a course abroad, for example.
Teach them an account statement where there is an expense made with them and explain that what was paid with the card (which looks like something for free) now appears written on the paper of the bank and is a money that is no longer. You can refer to a payment for a meal in a restaurant, or at the zoo, or at the amusement park ... something that you remember easily.
An idea to comment to families
"When we go shopping, children often ask us to buy something. Before leaving home you can decide if that particular day you can buy something or just look. When it's the day to buy, we'll take the money already stipulated so he can decide what he wants and when it's time to look, he'll realize that no matter what he asks for, he will not get anything.