OKFAMILIES

This obviously will make them understand and motivate them to save more money. This will have good effect for their future habit on money saving.

2. Once they know and able of saving the penny, bring the kids to the bank and make them saving account for their own. Most banks are offer account for the kids. Depend on the age group some bank offer some give such as CDs, DVD’s, computer games and so on. This, obviously make the kids happy and encourage the kids to save the money in the bank.

3. Most kids think that money grows from the three. Make them understand that you have to work hard in order to earn money. Whatever you whether you work hard to earn money or you inheritance large amount money, you should not encourage your children laziness. There are of course so many thing in the household like washing machines, cleaning the room, washing the dish etc Give your kids allowance to finish such job. You need also sometime to let your kids work for free to let them learn the .

4. As the kids get older there are of course some family members who like to give them as a give during birthday or some special occasion. Ask the kids to set aside 10 % of their money for saving. If they need to by something that relatively expensive ask the kid to save more. This may look small thing for the adult but this make this as a habits great thing for the children as they will understand how to earn and save money to buy what they need. if you are on your middle age now can you imagine how much would you save if you able to save you up to 10 percent for every penny that you have earn. Would be too much isn’t it?…to be continued in part IV.

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