52 Week Challenge: Saving Money Tips- Teach Your Kids About Money
It’s another week in the 52 week challenge! How are you doing so far? Are you keeping up with putting the money in your jar or bank each week? If you need help with weekly reminders, then sign up for our 52 week challenge newsletter!
Here’s this week’s savings tip: Teach Your Kids About Money
It’s no secret that having children is an expensive venture to take on. They have so many needs and as they get older, quite a lot of wants as well. It can be draining on anyone’s income, no matter how much money you have. There are so many joys to parenthood, though. One of them is knowing you are teaching your children good lessons that they can take with them into adulthood to be well adjusted adults.
One of the most important lessons, in my opinion, is teaching your children to understand the importance of spending money wisely and living frugally. It is not only important for their growth and development into maturity, but also so your family can save money in any way possible.
One way to do this is to help your children understand needs vs. wants. With small children, and even teenagers, it can be hard for them to distinguish the difference. One way you can help them is to practice the waiting game. This can be hard for small children to do, as we know that they aren’t well-known for their ability to be patient, but it will pay off in the end.
Another way you can do this is through allowing your children to have opportunities to earn money for something they want. Children are often impulsive, but if they see that saving up takes time, they can learn that in reality, getting things you want takes work and time. Your children might even surprise you and decide that after saving up for a while, they don’t want the original item as much and instead want to buy something else.
If you can find ways to curb your children’s impulsive wants, you can ultimately save money in the long run.
Be sure to check out some of my other tips to help your kids save money and make it fun:
It’s not too late to join the 52 Week Money Challenge.
Why should You join the 52 week money savings challenge?
Most families are on the constant look out for ways to save more money. This challenge is easy and doesn’t require you to do a lot each week. It starts out with just saving a $1 on the first week. Or, if you’re doing the challenge in reverse, then $52 bucks.
It’s an easy way to save money and it does work if you apply just a little self-discipline and you are determined to save money. And having a goal is a good way reach your saving objective. Below are a few saving goal:
- You can use the money you saved to pay for your Christmas at the end of the year.
- Go on a vacation
- Jump-start a college fund
- Pay off debt
- Buy a car
- This could be your first time actually saving money in a bank account
The reasons for saving extra money are endless!But the key is getting started!
People tend to do better when faced with a challenge (of any kind).
- You will receive a weekly email reminder telling you to make your deposit into the bank or jar
- You will also receive a weekly savings tip on a way that you can save that week.
- You will receive inspiring stories and ways to save money each week!
- Many people and blogs start out doing this challenge within their communities. But by March, most have fallen off the band wagon. As you can see,by just looking at our 52 weekly challenge archive, you can see that we kept up with it each week.
- I’ve personally and successfully completed this money saving challenge two years in a row! I am doing this challenge right along with you and to encourage you along the way. And if you need to tweak it to fit your families needs, save more , etc. then I am here to help you with that too!
- You can find out more about the 52 Week Challenge HERE
So, let’s get started! Sign up today to start receiving the 52 week money saving challenge newsletter!