Youth Savings Tips

Hi parents! Teaching young kids to save money is a great way to build lifelong financial habits. Here are some simple and fun tips:

1. Use a Clear Jar for Savings

  • Instead of a piggy bank, use a transparent jar so kids can see their money growing. It makes saving more exciting!

2. Set a Savings Goal

  • Help them pick something they want to save for (a toy, game, or outing) and track their progress. Print this savings tracker worksheet to get started!

3. Give Them an Allowance

  • Provide a small, regular allowance and teach them to divide it into three categories: spend, save, and give.

4. Match Their Savings

  • Encourage saving by offering to match a portion of what they save. If they save $5, you add $5 to motivate them.

5. Teach Needs vs. Wants

  • Help kids understand the difference between things they need (food, clothes) and things they want (toys, candy). Download this worksheet for a learning activity! 

6. Make Saving a Game

  • Create challenges like "Save $10 this month and earn a small reward" to keep them engaged.

7. Let Them Make Small Spending Decisions

  • Allow kids to make their own choices and learn from mistakes (like buying a cheap toy that breaks quickly).

8. Encourage Earning Money

  • Give kids small jobs around the house or let them do tasks for neighbors to earn extra cash.

9. Open a Revity Credit Union Youth Account

10. Lead by Example

  • Show them that you save money too! Kids learn best by watching what their parents do.

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