Saving - a superpower that is learned in childhood

Financial literacy is ideally learned from childhood. Because, regardless of the professional path he will choose, the child will be struck by money and what it means. Therefore, it is our duty to provide him with this information. If his financial education is not sound, then his life will become a stress from this point of view.  

The concept of saving up it helps especially in the current context. The pandemic caused by the coronavirus represents the beginning of an economic crisis marked by important financial changes. More and more companies are sending their employees into technical unemployment, unpaid leave or making them redundant. There is, of course, the danger of running out of money in the savings account, which causes a psychological and financial imbalance in the life of any family.  

Spending is something natural, but saving is a skill that develops. 

How about when your five-year-old asks you for a certain toy or gadget, you tell him that he can only get what he wants if he contributes half the amount needed to purchase that item? Most likely, your child will learn, on this occasion, what saving means and will know the feeling of satisfaction of being able to buy a certain thing with the money set aside by him. Moreover, he will take an important step towards the independence and self-confidence so necessary in his development.

Saving is a behavior that only develops through sustained practice. Financial education is a lifelong process that combines various behaviors and attitudes.

The best way to teach your child about money is to encourage him to earn it, to make the connection between work and money, and then support him to manage it himself.

It's crucial to show children that money can play different roles in everyday life, whether it's spending or saving for later.

 Encourage little ones to set big goals, which they can then turn into savings goals. To remove the fear of "oh, I don't have money for such a thing" or "ahhh, it's too much for me".

If we want to raise young people to win financially, we must teach them to save. Learning how and why to save money is one of the fundamental financial disciplines.

It is a way to ensure your success. Knowing how to save, postpone pleasure, set goals and priorities, means emotional maturity. 

It is no surprise to anyone that the father is, apart from a mountain of love and devotion for the family, also the best manager of it. 

For these reasons, we, the parents, are practically the first "specialists" who familiarize the child with money and its importance, teaching him elementary notions about the area of finances.

You can start simple, with an exercise that the little one will surely understand. 

Place three jars, each with a label: "Savings", "Expenses", "To be shared". Every time the child receives money, whether it is received on his birthday or earned by doing chores around the house, divide the money equally between the three jars. Teach him to take money from the "Spending" jar for small purchases like candy or stickers. The money in the jar can go to someone in need or be donated to a friend's cause. The money in the savings jar should be spent on more expensive things.

It is important to explain to your child that money is not infinite and it is important to make wise choices because after you spend all the money you have, you will not have any more to spend.

Easy easy, involve your child in making financial decisions. For example, explain to him: "I chose this ordinary orange juice instead of the company one, because it is cheaper by 50 pennies and it seems to me that they taste the same." Or discuss discounts, such as buying common items in bulk, such as paper towels, to get a cheaper price per piece.

Then you can switch from short-term savings plans to long-term ones.