Learning how to save is a valuable lesson that children as young as preschool can begin to learn. In this clip from Sesame Street, Elmo shows kids how to divide their money into savings, spending money, and sharing money. But how do you motivate children to understand why they should save?
In this clip below, Cookie Monster demonstrates the value of waiting. Much like you want to wait for a tray of cookies to bake, waiting for savings to build will be worth it in the end when you can buy something special. This is a lesson that is great to teach kids when they want a specific toy, game, or article of clothing.
This lesson will also spill into other aspects of the child’s behavior. Learning how to save will teach your children good money management decisions like couponing and buying things on sale. Children will also learn how to be patient with more than just making purchases.
What are some of your favorite ways to teach children to be save? Share them in the comments below!