Tips for little ones on how to learn to save money in 2022

In order to buy what they want, children can save the allowance or money received from the family, but first they have to learn how. You're probably wondering what you can do to encourage your little ones to save their money. In the following lines, we will give you some tips on how to get them to save money, but also "business" ideas from which they can earn additional income.

Younger generations may learn about the importance of saving for the future perhaps earlier than you might expect, and in this case, small actions can often make a difference. Changes in the amount they save and/or spend could have a major impact on the child's ability to finance the lifestyle they want as an adult.

Here are some suggestions for your little one to learn about financial independence.

Talk to them early and often about financial responsibility

You can help little ones develop and improve their financial IQ by introducing basic concepts like evaluating needs versus wants, creating a budget, and saving for a long-term goal. Ideal times to broach these topics may be while shopping or paying bills.

Choose a clear goal to accomplish

Identify with your little one something they want (or maybe even a memorable experience) and need money for, and come up with a strategy together. Discuss and decide with your child how the allowance can be used, or you can find other ways to accumulate money, such as "gifts" from the Fairy Godmother or age-appropriate "jobs". Here are some ideas on how I can make extra money: 

• Online surveys

Everyone can take online surveys, even kids. There are some designed specifically for them. There are many sites where they can take surveys, watch videos and play games.

• They can sell online items created by them

This is another way a kid can make money online regardless of the season. Before starting this they need their parents' permission and help to create an account. If the little ones are passionate about handmade items, there are several platforms they can use to sell these items. If not, you can look together for less used or unwanted items or toys to sell.

• I can write story books

Little ones have a rich imagination! And if they are also good with words and have always wanted to write various stories, parents can help them edit their text and then list them on an online platform for sale. Who knows, this may be a good career start.

Be a good role model for children

Little ones are very attentive to gestures and things around them, and it is much harder to be persuasive against frivolous spending if the child grows up seeing that very behavior. Positive financial habits learned from childhood help children shape their future habits.

Make things fun and give them feedback 

Learning about responsibility and saving isn't always fun, so little ones can stay engaged and motivated by making things more enjoyable and talking about the behaviors you want them to repeat.