Children learn about money long before they open a bank account β from watching how the family spends, saves and talks about it. A few simple habits at home can give them a head start.
Ages 3β5: Money is something you can see
At this age, children are learning that coins and notes have value. Let them drop coins into a piggy bank and count them with you. Seeing the bank fill up makes the idea of βsavingβ real.
Ages 6β8: Saving for a goal
Help your child choose something small they want β a book, a toy or a treat β and save for it. Write the goal down or stick a picture of it near their money box. Reaching the goal teaches patience and the joy of earning something.
Ages 9β10: Save, spend and share
Older children can start dividing their money into three parts: some to save, some to spend and some to share or give. Talking about these choices helps them understand that money is limited and every choice matters.
Simple ways to build the habit
- Give a small, regular amount β pocket money or a reward for extra jobs.
- Make saving visible with a see-through money bank.
- Let them make small mistakes β spending on something that disappoints is a valuable lesson.
- Talk about your own choices, like waiting for a sale or saving for a holiday.
- Celebrate milestones when they reach a saving goal.
A see-through wooden piggy bank lets children watch their savings grow, and our cube piggy bank has separate slots for coins and notes. Combine one with a reward chart so extra jobs around the house can earn a little towards their goal.