How to Get Children to Save Money

If your child is always asking for money, and you are sick of it, here are some ways to get them to save their own money!

EditSteps

1
First of all, you may wish to talk with your children. Explain to them under what circumstances you will give them money. You may give them a weekly allowance, or give them a certain amount of money for doing all their chores, or reward them for excellent behavior or terrific grades.
2
Go to the store and buy a chore chart. Write what days each child does each chore.

If they do their chores every day of the week, give them an amount of money. You should keep it the same amount of money each week.
You may also wish to give them a certain amount of money each day for completing their chores.

1
To store their money, you might go to the store. Buy a wallet (cheap) and one of those large office water bottles (the kind that gives water out of a dispenser).Put bills in the wallet and coins in the bottle. You can have them count it every now and again. You might have them set a goal of how much money to get in the jar or the wallet. You might also explain bank accounts to them and keep the money in an account once their stash of cash is built up a little bit. If they are saving up for something in particular, have them find out each time they count their money how much they have, and how much they still need.
2
You can have your children do chores around the house for money if they are young. If they are older, you can have them go around the neighborhood to weed gardens, rake lawns for leaves, and shovel snow off sidewalks and driveways. You can also have them walk people's dogs for a little bit of cash.
3
Set a limit of how much money your children can spend each month. If they spread it out over the month, they can buy little things often. However, if they are saving up for camp or a new game or a bike, they can save the money for that month.
4
If your child wants to make a little money without working, you could have them lend money to their siblings and charge interest! This will teach them the lesson of "earn money, spend money, earn money again!"

Encourage them by practicing good financial sense and setting an example.
Don't force them to do jobs or chores. If they don't want to their part, no money for them!

Make sure the job is not dangerous in any way to the child or others.
Make sure to always keep an eye on your child. Make sure you meet anyone he/she goes and does a job for.